Persimmon 2017 final results new capital return plan
The Group's continued outperformance and generation of surplus capital in 2017 has enabled a further increase in the Capital Return Plan to be announced today:
Additional Capital Return payments of 125 pence per share to be made each year for the next three years ending in 2020, increasing the total value of the Plan by 375 pence per share to £13.00 per share
These new additional returns will be paid as an interim dividend in late March/early April each year. The first of these additional payments will be made on 29 March 2018 as an interim dividend in respect of the financial year ended 31 December 2017, totalling c. £390m
In addition, the Board is pleased to confirm that the scheduled capital return of 110 pence per share, or c. £340m, will be paid, subject to shareholder approval, on 2 July 2018 as a final dividend in respect of the financial year ended 31 December 2017
Following this further improvement of the payment schedule the total value of the Capital Return Plan is estimated to be c. £4.1 billion or £13.00 per share, over double the original plan value of £6.20 per share
