Dividend information

The Company currently pays an ordinary dividend, normally twice a year in May and November, and an annual special dividend. In each case, the payment is available either by cheque or direct to your bank or building society account; or through the CREST system. Alternatively, you can re-invest your dividends into Taylor Wimpey shares by joining the Dividend Re-Investment Plan (DRIP).

Dividend Policy

Our Dividend Policy, as an output of our strategy, is inherently linked to the cyclical market in which we operate. We continue to believe that our Dividend Policy should comprise a dividend to be paid throughout all stages of the housing cycle and additional significant surplus cash returns to be made at appropriate times in the cycle.

Ordinary Dividend Policy: The Company will pay an ordinary dividend of approximately 7.5% of Group net assets and which will be at least £250 million per annum. This is in line with our announced policy of paying an enhanced ordinary dividend from 2019 onwards and is intended to provide a minimum annual return to shareholders throughout the cycle, including through various planning scenarios based on a 'normal' downturn and including a scenario where average selling prices reduce by 20% and volumes reduce by 30%. This ordinary dividend will be paid equally as a final dividend (in May) and as an interim dividend (in November) each year and will be subject to shareholder approval at each Annual General Meeting.

Our Special Dividend Policy is to pay out to shareholders the free cash generated by the Group after land investment, all working capital, taxation and other cash requirements of the business in executing our strategy in the near term and the Group’s ordinary dividend have been met. The special dividend will continue to be paid in July of each year. We returned £300 million to shareholders in July 2017 (equating to 9.20 pence per ordinary share); £340 million in July 2018 (equating to 10.40 pence per ordinary share); and £350 million to shareholders in July 2019 (equating to 10.7 pence per ordinary share. We announced on 31 July 2019 that we intend to return £360 million to shareholders in July 2020, subject to shareholder approval at the 2020 Annual General Meeting. Future special dividends will be announced on an annual basis at the half year results and will be paid in the following July, subject to shareholder approval. 

The Board confirms its intention to keep the mechanics of how the Company will pay special dividends, including the merits of undertaking a share buyback at some point in the future should it become appropriate to do so, under regular review.

Latest dividend payments

The most recent dividend paid was the 2019 Special Dividend of 10.7 pence per share. It was paid on 12 July 2019 to shareholders on the register at close of business on 7 June 2019.

On 31 July 2019, we announced that an interim ordinary dividend of 3.84 pence per share will be paid on 8 November 2019 to shareholders on the register at close of business on 4 October 2019.

The Dividend Re-Investment Plan (DRIP) is/was available on all of the dividends listed below, save for the special dividend paid on 3 July 2014, as noted below.

 

Shares trade

ex-dividend

Dividend type

Dividend per share (pence)

Payment date

Record date

3 October 2019

Interim

3.84

8 November 2019**

4 October 2019

6 June

Special

10.70

12 July 2019

7 June 2019

4 April 2019

Final

3.80

17 May 2019

5 April 2019

4 October 2018

Interim

2.44

9 November 2018

5 October 2018

31 May 2018

Special

10.40

13 July 2018

1 June 2018

5 April 2018

Final

2.44

18 May 2018

6 April 2018

21 September 2017

Interim

2.30

3 November 2017

22 September 2017

1 June 2017

Special

9.20

14 July 2017

2 June 2017

13 April 2017

Final

2.29

19 May 2017

18 April 2017

25 August 2016

Interim

0.53

7 October 2016

26 August 2016

2 June 2016

Special

9.20

15 July 2016

3 June 2016

7 April 2016

Final

1.18

20 May 2016

8 April 2016

20 August 2015

Interim

0.49

2 October 2015

21 August 2015

21 May 2015

Special

7.68

3 July 2015

22 May 2015

9 April 2015

Final

1.32

20 May 2015

10 April 2015

20 August 2014

Interim

0.24

25 September 2014

22 August 2014

4 June 2014

Special

1.54

3 July 2014*

6 June 2014

9 April 2014

Final

0.47

21 May 2014

11 April 2014

21 August 2013

Interim

0.22

25 September 2013

23 August 2013

17 April 2013

Final

0.43

21 May 2013

19 April 2013

Key:

*DRIP not available

** Declared but not paid

Dividends paid direct to your bank or building society account

By having your dividends paid direct to your bank or building society account, you will avoid the risk of having your cheque lost in the post or having to present it to the bank.

You will receive your dividend in your account on the dividend payment day and dividend confirmation will be posted to your home address.

To set up a dividend mandate instruction, complete and return the form attached to your dividend cheque, contact Link for additional forms, or register your mandate at www.signalshares.com

Link Asset Services
The Registry 
34 Beckenham Road 
Beckenham 
Kent 
BR3 4TU 
E-mail:
enquiries@linkgroup.co.uk
UK enquiries: 0871 664 0300
Overseas enquiries: +44 371 664 0300

Calls cost 12p per minute plus your phone company's access charge. Calls outside the United Kingdom will be charged at the applicable international rate. Lines are open between 09:00 - 17:30, Monday to Friday excluding public holidays in England and Wales.

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