Persimmon's cautious optimism about the rest of 2020 has allowed it to restore dividend payments, albeit at a “modest” 40p a share. Further dividend payments will be reviewed later this year.
A proposed 125p per share return of surplus capital due to be paid on 2 April was cancelled earlier this year, with an annual final dividend of 110p per share due in July also postponed.
The company did not use the government's furlough scheme during the period it had to close sites. CEO Dave Jenkinson, who leaves the group at the end of this year, said build rates had returned to pre-Covid levels by the end of June.
He added that long-term housing market fundamentals remained strong, although the company is wary about the risks to demand from Covid-19, rising unemployment and Brexit.
