14 November 2016 – trading update
The housebuilder has issued a positive trading update revealing that trading has been strong going into the autumn selling season with good levels of demand underpinned by a wide range of mortgage products. Although there is clearly some uncertainty following the vote to leave the EU trading so far has remained resilient and the group has a strong order book for the rest of 2016 and going into 2017. Net cash at the year end is expected to be around £360m and the group remains committed to the total dividend payment of £450m for 2017. This represents total payments for 2017 of 13.8p or a yield of some 9.5%. The shares remain a BUY.