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Persimmon slashes dividend as sales slump

The housebuilder’s foundations do not look as solid as they did last year
March 1, 2023
  • Forward sales down
  • House prices falling fast

Faced with the prospect of receiving just a quarter of the dividends they received last year, investors promptly marked shares in Persimmon (PSN)9 per cent lower on the morning of its full-year results. The move shows the housebuilder is not particularly confidentabout the next 12 months, putting the cut down to “prevailing market conditions” and plans to reinvest the money into “future growth”.

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