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: From 2017, the Company will pay an ordinary dividend of approximately 5% of Group net assets and which will be at least £150 million per annum. This is intended to provide a minimum annual return to shareholders throughout the cycle, including through a ‘normal downturn’. 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. As previously announced in May 2016, we intend to return £300 million to shareholders in July 2017, equating to c.9.20 pence per ordinary share, subject to shareholder approval at the 2017 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 next update will therefore be at our 2017 half year results on 1 August 2017 for the 2018 special dividend.

These policies on ordinary and special dividends will apply for dividends paid from January 2017. 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 2016 interim dividend of 0.53 pence per share. It was paid on 7 October 2016 to shareholders on the register at close of business on 26 August 2016.

The dates for recent dividends are shown in the table below.

The 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
25 August 2016 Interim
0.53
7 October 2016 26 August 2016
2 June 2016 Special
9.2
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

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 Capita for additional forms, or register your mandate at www.capitashareportal.com

Capita Asset Services
The Registry 
34 Beckenham Road 
Beckenham 
Kent 
BR3 4TU 
E-mail: shareholderenquiries@capita.co.uk
Tel: UK - 0871 664 0300 calls cost 12p per minute plus your phone company's access charge. From overseas - +44 20 8639 3399 calls outside the United Kingdom will be charged at the applicable international rate. We are open between 9.00am - 5.30pm, Monday to Friday excluding public holidays in England and Wales.

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