Spend £1,000 on Persimmon shares at their present level and you will get back about £400 over the next five years under the capital return plan put in place in 2012 and increased this year.
Persimmon is our second-biggest housebuilder and is focused on the first-time buyer, with nothing in London. It is throwing off huge amounts of cash and is one of those in the sector returning it to investors, about £1 billion into a £2.76 billion cash return plan. This equates to another 550p a share by 2021. The shares, which at one stage after the referendum vote had virtually halved, fell 103p to £13.32 yesterday.
There is almost nothing, short of an asteroid strike on the planet, that would seem to prevent