Taylor Wimpey Share News (TW.)

(Sharecast News) - Taylor Wimpey posted its half-year results for the period ended 1 July on Tuesday, with group total completions falling to 6,497 homes from 6,648 a year ago, excluding joint ventures.The FTSE 100 housebuilder said it did see an Increase in the UK private average selling price to £295k from £287k year-on-year, and apparently achieved a 90% customer recommendation rate for the period, up from 88%.It said it had a "strong" UK order book as at 1 July representing 9,241 homes, up from 8,741 homes a year earlier, with a value of £2.18bn, rising from £2.11bn, excluding joint ventures.Adjusted operating profit was £344.3m, down from £350.5m, while its profit before tax rose to £301m from £205m.The company claimed to have contributed £192m in the first half to local communities via its planning obligations, and more than £1.8bn since the start of 2013.It made an exceptional provision of £30m to replace aluminium composite material (ACM) cladding, which the board said would provide support to customers on certain developments following a "detailed review".Its net cash increased to £525.1m as at 1 July, from £429m on 2 July last year.The board declared an interim ordinary dividend of 2.44p per share, up from 2.3p per share a year ago, to be paid in November, which would bring 2018 total dividends to around £500m, or 15.28p per share.Taylor Wimpey's directors also reconfirmed the planned enhanced returns to shareholders from 2019, with a special dividend of £350m, or 10.7p per share, to be paid in July 2019 subject to shareholder approval, after £340m and 10.4p per share was paid in July this year.From 2019, an increased ordinary dividend policy of approximately 7.5% of group net assets and at least £250m per annum through the cycle would be implemented, up from 5% and at least £150m per annum.That would bring 2019 total dividends to around £600m or 18.3p per share, up from £500m this yearBased on the board's current five-year expectations, and in current market conditions, Taylor Wimpey said it expected special dividend payments to remain comparable to the 2018 and 2019 payments."As employment prospects remain positive and mortgage availability is good, customer demand for our homes has been strong in spite of some wider macroeconomic uncertainty," said chief executive Pete Redfern."With a strong order book in place, we are confident in our prospects for the remainder of the year and looking further ahead."We have been very pleased to see further improvement in our customer satisfaction scores which is the result of our increased investment in this area over the last three years."Redfern said the company had a "great platform" in place as it rolled out its new strategy for customer-centred growth, which he said meant taking a "proactive approach" to every aspect of its operations and becoming a more agile, focused and innovative business."Improving the efficient use of our land, and improving all key processes over the next five years, will enable us to deliver more homes and a high-quality product and service to our customers and communities and increased value for shareholders."We remain on track to deliver the board's expectations for 2018."