Confident Bovis to resume divi

BUILDER Bovis became the latest company to say it intends to resume paying dividends after a solid first-half in which it splashed out on more land.

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The group bought 1,900 plots with planning consent in the first half - more than its entire investment last year. It also agreed to buy a further 2,500 plots.

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Analysts at Panmure Gordon noted that 80pc of the 1,900 plots are in the south of England, where the housing market recovery is likely to be strongest.

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Bovis chief David Ritchie said: 'Given the clear confidence we have in the medium term ... we should be bold enough to make our intent on dividend clear."

He said the dividend would be resumed, but at a lower level than the 35p a share last offered by the group before the Christian louboutin shoes housing market collapsed.

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Hornby and Travis Perkins are also ready to return to the dividend list.

Bovis (up 4.2p at 353p) completed 803 homes in the first-half, up 6pc on a year ago, while the price of private homes sold rose by 2pc to [pounds sterling]163,500.

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