Persimmon give massive payout to shareholders

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Persimmon have done well in the new boom in construction and are rewarding their shareholders with bumper dividends which would be enough to knock-off £23,195 from the price of every home completed by the company last year.

Th full results for the full year to December 31 2015 show Persimmon completed 14,572 homes during the period with an average selling price of £199,127.

Shareholders will receive the increased £1.10 dividend in April as part of a wider programme to return £2.76bn to shareholders.

Persimmon made an underlying pre-tax profit up 34% during the year to £637.8m on turnover up 13% to £2.9bn.

Persimmon commented saying : “The two key challenges for the industry in growing output remain opening new sites as swiftly as possible and resourcing sites with the appropriate level of skilled labour.

“To mitigate some of the pressures resulting from the desire to increase build rates on site the Group has continued to strengthen the management of its construction programmes to target productivity gains and efficiency improvements.”