15th May 2018 09:09
LONDON (Alliance News) - Taylor Wimpey PLC said Tuesday it plans to increase its dividend in 2019 as it released new five-year goals to 2023.
In trading update coinciding with a capital markets day, the FTSE 100 housebuilder said that from 2019 it will increase its dividend to 7.5% of the group net assets up from 5%.
For 2017, Taylor Wimpey paid a dividend of 13.79 pence per share, while for 2018 it plans to pay 15.3p.
Taylor Wimpey said its goals for the next five years include maintaining operating margins at around 21-22% and increasing return on net operating assets to 35%.
Market conditions and current trading were in line with management's expectations, the company said.
"The UK new-build housing market remains stable across our geographies. Consumer demand remains high with good customer confidence, supported by very low interest rates and mortgages at competitive rates," Taylor Wimpey said.
Sales remained "at healthy levels" with average private sales at 0.85 per outlet per week.
Shares in Taylor Wimpey were trading at 200.20 pence up 2.6%.
Related Shares:
Taylor Wimpey