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Negotiation. It's been a Tory fight for years. But houses need to be built. They will be built.

Just bought a little tranche of The Works from a nice little profit on Card Factory. Can see both of these shares improving over next year or two, but also hoping dividends being paid over next day or two will be partially reinvested (which I'm hoping will boost the sp).

Various bits of hopeful positives for retail property. Some protections for mortgages in latest 'budget' which should help reduce forced sales. Expectations of interest rates dropping again before too long. But also tracker mortgages available charging under 4% currently. It'll take a while but there's more money out there than our pathetic media would have you believe. House market for new builds will pick up in New Year as sense prevails, helpful offers from Persimmon and others and the realisation that higher rents are a total waste of money for those who can just about afford to buy. All IMHO.

HL has stopped trading for now. Price had been moving up quite well. Anyone know what's happening? If anything...

Hopefully prices won't drop that much. Firstly, rents are going up so mortgages are still reasonable value. Secondly, although interest rates will rise to claw back inflation, the ensuing recession and deflation will soon lead to falling interest rates. The highest rates will probably only last 9 months. Thirdly, mortgage companies will allow payment reductions as inflation and higher salaries reduce the load ratio of existing mortgages. Fourthly, Housebuilderd will offer incentives and cashbacks or similar to reduce the effect of higher mortgage payments to get people over the line. Fifthly, the Government will want to avoid a major house deflation as that is a huge bite loser, so will provide incentives to keep the property market moving. Stopping building for a year is not going to help, but of course will just lead to an ever bigger rise in house prices once demand returns. There are other paths, but I doubt the current hiatus will last for very long. Putin may, of course, have other ideas...

Agreed. I had lots of these but sold out a few months back. Been piling back in since immediately after the update a couple of days back. Some sort of dividend must be getting closer. I'd see this getting over £1 at that point. But plenty of upside even now in high 60s.

Good job Persimmon has such good margins. New houses will still sell and it won't be long before we have deflation and interest rates are heading down. In the meantime we should get some sort of dividend. Ups and downs of the markets. But hardly doom and gloom...

Ho Ho! Good one... Maybe he's got a job as a Santa Claus in a CF shop?

Yes. Nice to see some good news!

SP has leapt up? Something going on...

FTBs obviously took a deep breath when mortgage rates were shooting up, and it's a quiet time of year for new activity. But salaries are going up, inflation is hitting rents, and longer term now is always better to get on the housing ladder than a few years time with all that rent just wasted. And people want their own homes. Combine that with downsizing older folk wanting low maintenance and better energy efficiency and I believe you're talking things down rather than presenting a balanced view. Of course it's going to be tough for the next year or so, but share price is already very low, and cash returns of at least £1 can be expected during calendar year 23.

So about £1.20 for the calendar year (over 2 financial years). I'd expect the split to be skewed a bit more but the total should hopefully be in the same ballpark. Still about 9% of current price.

If cash is £700m at year end, it should climb a bit before the next div payment is made. That will be the distribution for FY22, declared in Mar 23 and payable April or May. I'm guessing that will be about £1 a share. That is the full distribution for FY22. But they also mention the introduction of an interim dividend for FY23 payable second half of 2023. I'm guessing this at about 35p per share. So they will bring forward the initial payment for FY23. Effectively this will reduce the hit of losing the special div. Haven't seen anyone else explain this year - of course the div is reducing but I anticipate the cash payment in calendar year 23 to be slightly better than others. The directors probably want the price to stay especially low as this is in their interests of they buy any of are granted shares based on value. The greedy beggars.

Thanks. Sounds reasonable ex and pretty 'straight'. Very interested in how you reached the 80p-120p annual div. Is that the dividend for the FY22 or does it include the interim div they mentioned that will be paid late in 2023? If the interim is on top I'd expect a total calendar year return of about 115-145p. This is still about 10% cash over next 12 months ish. Hardly terrible and makes this share a bit for me. Also for greedy private equity given the cash so I can't see it dropping much further and sp of at least £15 is easily achievable in 12 months or so.

Dividend payable in calendar year 2023 looks like being well over £1 and probably about £1.25-1.40. This is a yield based on today's price of about 10%. I've just bought some more, switching a bit out of Barratt that has dropped far less. Fingers crossed...

So, no special dividend in 2023. Expect div of about £1 per share paid in first half 2023 but there will now be an interim div for fy 23 paid in second half of calendar year 23. So during calendar year can expect a further div of, say, 35p to give a total cash amount of about £1.35 per share paid during 2023. Hopefully. The Government cladding provision is going to hurt a lot. Up to £350m!

Not at previous levels. No special div paid in 2023. Dividend will be 'well covered by net profits' and will be much lower than before due to extra Government taxes.

I use FTSE250 as more of a market indicator for Persimmon... Price dropping fast now. Wonder why...

Yes, we know you're suggesting a collapse. But the market isn't listening to you. Persimmon update tomorrow is anticipated and will be a great indicator so I'll read that.

The way the price is rising today (yes, market is up of course) suggests half decent expectations.