The delivery of the Board’s long term strategy enables the return of surplus cash to shareholders.
In light of the current uncertainty caused by the Covid-19 virus and its operational impact on UK economic activity, and in line with the Group's strategy of minimising the financial risk through the cycle, the Board believes that conserving cash and maximising financial flexibility is in the long term best interests of the business and all its stakeholders.
Accordingly, the Board of Persimmon has decided to: (i) cancel the proposed 125p per share interim dividend payment of surplus capital to shareholders on 2 April 2020; and (ii) to postpone the proposed annual, final dividend payment of 110p per share on 6 July 2020 and reassess it later in the calendar year when the effects of the virus will be clearer. Details of the announcement are available here. The schedule of payments made or planned to be made under the Capital Return Plan are as follows:
Original Plan | New Plan | Original Plan Pence Per Share | New Plan Pence Per Share |
|---|
28 June 2013 | 28 June 2013 | 75 | 75 paid▲ |
| 4 July 2014 | - | 70 paid▲ |
30 June 2015 | 2 April 2015 | 95 | 95 paid▲ |
| 1 April 2016 | - | 110 paid‡ |
| 31 March 2017 | - | 25 paid‡ |
30 June 2017 | 3 July 2017 | 110 | 110 paid‡ |
| 29 March 2018 2 July 2018 | - - | 125 paid‡ 110 paidΩ |
30 June 2019 | 29 March 2019 2 July 2019 | - 110 | 125 paid‡ 110 paidΩ |
30 June 2020 | 2 April 2020 - cancelled 6 July 2020 - postponed | - 115 | - 110* |
30 June 2021 | Late March 2021 Early July 2021 | - 115 | 110* 125* |
Total | - | 620 | 1300 |
* Current anticipated profile of payments.
▲ Paid by a B/C Share Issue.
‡ Paid as an Interim Dividend.
Ω Paid as a Final Dividend.