Housebuilder Taylor Wimpey Plc announced a fresh special payout, promising investors about £1.3 billion over three years, underpinned by strong demand for property in the UK.

The company said it would pay a special dividend of £300 million pounds in July 2017 and bump up its ordinary dividend, so that a minimum of £150 million would be given to investors from 2017.

Taylor Wimpey also raised its financial targets for 2016-2018, saying it was well placed for the remainder of this year and beyond.

Reuters