Barratts Homes boosts dividend amid 'good consumer demand' for new houses

The UK's largest housbuilder, which has homes for sale at seven sites across Kent, is rewarding shareholders with a big boost to their dividend amid "good consumer demand".

The company, which also sells under the David Wilson and Ward Homes brands, revealed it increased revenues to nearly £2 billion, up 10%, in the last six months of last year, with pre-tax profits up 7% to £343 million.

It completed 7,324 homes in the period, up 2%, and approved the purchase of £641.2m of land "reflecting confidence in the market, excellent land opportunities and commitment to disciplined volume growth".

One of the new homes at the Martello Lakes development in Hythe
One of the new homes at the Martello Lakes development in Hythe

As a result, it has opted to reward shareholders with a 17.8% increase in their interim dividend to 8.6p per share.

Chief executive David Thomas said: "With good consumer demand, a healthy forward order book and a robust balance sheet, overall we have had a strong first half and we continue to deliver against our operational and financial objectives.

"As the UK's largest housebuilder, we enter our 60th year increasing our housing output, creating jobs and supporting economic growth across the country.

"Having built more than 450,000 homes since 1958, Barratt remains focused on quality, design and industry-leading customer service while delivering homes the country needs."

Barratts has homes for sale in Kent on its developments at Saxon Place in Harrietsham, Martello Lakes in Hythe, Aylesham Village near Canterbury, Castle Hill in Ebbsfleet and Phoenix Quarter in Dartford.

David Wilson Homes is selling at Chestnut Grange in Ashford and Preston Grange near Canterbury, as well as Castle Hill in Ebbsfleet.

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