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Taylor Wimpey to return at least 250 mln stg to shareholders

Reuters - UK Focus

LONDON, Feb 26 (Reuters) - Taylor Wimpey (LSE: TW.L - news) said it would return 250 million pounds to shareholders over the next two years after Britain's recovering housing market helped the housebuilder post an almost 50 percent jump in full year pretax profit.

The company said on Wednesday it planned to pay shareholders 50 million pounds in 2014 and 200 million pounds in 2015, with plans for further significant annual payments from 2016. It proposed a final dividend of 0.47 pence per share, giving the total for the year of 0.69 pence.

The housebuilder said its profit before tax and exceptional items for the year to Dec. 31 rose 47.6 percent to 268.4 million pounds as revenue increased 13.7 percent to 2.3 billion pounds. The company's order book at Feb. 23 stood at 1.49 billion pounds.