Having taken a plunge many house builders are now possibly on the up again.

Buy on the bad News / Dips....still a good dividend...Sector is rising, Houses still in demand....keep buying a few & average out.....Management certainly tightening their belts.....looks a fair punt to me & with a possible "take-over"

expect a decent jump in sp in the morning with Redrow now being firmly in the picture - see ST front page biz section
Berkeley Homes were approached to make an offer several weeks ago

one way or another, it looks that BVS's days as a separate entity are numbered ..... phew, puffs my sipp holding :-)

BBC Business News reports thar Redrow rejected out of hand, Galliford Tty also rejected but talks will continue

rejection is expected, but that now looks like 3 are in the ring and i'ld be surprised if BVS have either the firepower or the support of their institutional investors to stay independent

StockMarketWire.com
Bovis Homes Group has rejected an approach by Galliford Try but appointed its former chairman and chief executive, Greg Fitzgerald, as the group's new CEO.

Fitzgerald spent more than 30 years of his career Galliford Try increasing the scale of the housebuilding business and improving profitability.

Bovis said Fitzgerald's appointment as CEO would take place with effect from 18 April when Earl Sibley would resume his role as group finance director.

Bovis also said that its board had reviewed Galliford Try's merger proposal and concluded that it failed to reflect the underlying value of the Bovis business.

It said the board had decided to reject the proposal as it believed that an independent strategy under Fitzgerald's leadership would deliver greater value for shareholders.

This seems out of interest:

Yield and promises.

Headline DJ Bovis Homes Declares Special Dividend Despite Profit Fall
Date/Time Thu Mar 01 20187:59:14
By Ian Walker
Bovis Homes Group PLC (BVS.LN) on Thursday declared its first special dividend and raised its payout target, despite reporting a 26% fall in 2017 pretax profit as it sold fewer houses.

The house builder made a pretax profit for the year of 114 million pounds ($156.8 million) compared with GBP154.7 million a year earlier, on revenue that fell to GBP1.03 billion from GBP1.05 billion.

It sold 3,645 houses in the year at an average price of GBP272,400 compared with 3,977 houses in 2016 at GBP254,900.

The board declared a special dividend of 45 pence a share, which it expects to be paid toward the end of the year. It also declared a final dividend of 32.5 pence a share compared with 30.0 pence a year earlier, taking the total payout for 2017 to 47.5 pence.

The board plans to pay special dividends of GBP180 million--or 134 pence a share--over the three years to 2020. It said the company plans to declare dividends of 57 pence for 2018, and move progressively towards payouts that are twice covered by earnings in 2020.

Bovis said it has started 2018 with a strong sales position and that more than 40% of consensus 2018 revenues have been secured.

Average site visits during the first eight weeks were 14% higher than the same period last year, it said.

Headline DJ Bovis Homes Declares Special Dividend Despite Profit Fall
Date/Time Thu Mar 01 20187:59:14
By Ian Walker
Bovis Homes Group PLC (BVS.LN) on Thursday declared its first special dividend and raised its payout target, despite reporting a 26% fall in 2017 pretax profit as it sold fewer houses.

The house builder made a pretax profit for the year of 114 million pounds ($156.8 million) compared with GBP154.7 million a year earlier, on revenue that fell to GBP1.03 billion from GBP1.05 billion.

It sold 3,645 houses in the year at an average price of GBP272,400 compared with 3,977 houses in 2016 at GBP254,900.

The board declared a special dividend of 45 pence a share, which it expects to be paid toward the end of the year. It also declared a final dividend of 32.5 pence a share compared with 30.0 pence a year earlier, taking the total payout for 2017 to 47.5 pence.

The board plans to pay special dividends of GBP180 million--or 134 pence a share--over the three years to 2020. It said the company plans to declare dividends of 57 pence for 2018, and move progressively towards payouts that are twice covered by earnings in 2020.

Bovis said it has started 2018 with a strong sales position and that more than 40% of consensus 2018 revenues have been secured.

Average site visits during the first eight weeks were 14% higher than the same period last year, it said.




wSS