Berkeley warns on profits; will stay pay dividend due in March

Writer,

Home builder Berkeley warned on profits as it suspended development work, though the company said it would still make a looming dividend payment.

Profits for the year through April were now seen in the region of £475m, Berkeley said.

A dividend of 99.32p per share announced in a 12 March trading update would be paid on 31 March.

Berkeley said it planned to make its next £140.1m shareholder return by 30 September via a combination of share buy-backs and dividend, though it would reassess its position when it announced its full-year results.

'We are suspending future guidance until there is greater clarity of the impact of Covid-19 on business and the wider economy beyond 30 April 2020,' the company said.

'Our priority is to maintain the dividend and deliver a pre-tax return on equity of 15% over the next six years, which the board believes is the appropriate risk-adjusted target return across the cycle for Berkeley.'

At 1:12pm: (LON:BKG) Berkeley Group Holdings The PLC share price was -102.5p at 3592.5p


Related content

Broker Forecast - Credit Suisse issues a broker note on Berkeley Group Holdings (The) PLC

Credit Suisse today reaffirms its neutral investment rating on Berkeley Group Holdings (The) PLC (LON:BKG) and cut its price target to 4888p (from 5630p).

Broker...

Thu, 07/05/2020 - 12:10


Broker Forecast - Jefferies International issues a broker note on Berkeley Group Holdings (The) PLC

Jefferies International today reaffirms its buy investment rating on Berkeley Group Holdings (The) PLC (LON:BKG) and cut its price target to 5727p (from 5779p).

Broker...

Tue, 21/04/2020 - 14:40


Broker Forecast - Liberum Capital issues a broker note on Berkeley Group Holdings (The) PLC

Liberum Capital today upgrades its investment rating on Berkeley Group Holdings (The) PLC (LON:BKG) to hold (from sell).

Broker Forecasts data provided by www.sharesmagazine.co.uk...

Fri, 17/04/2020 - 09:40


Broker Forecast - Deutsche Bank issues a broker note on Berkeley Group Holdings (The) PLC

Deutsche Bank today upgrades its investment rating on Berkeley Group Holdings (The) PLC (LON:BKG) to hold (from sell) and cut its price target to 3966p...

Wed, 08/04/2020 - 08:30


Broker Forecast - HSBC issues a broker note on Berkeley Group Holdings (The) PLC

HSBC today reaffirms its buy investment rating on Berkeley Group Holdings (The) PLC (LON:BKG) and cut its price target to 5940p (from 6620p).

Broker Forecasts...

Mon, 06/04/2020 - 14:20