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Barratt Developments Suspends Interim Dividend, Outlook

Barratt Developments (BDEV.L) said that it has cancelled the interim dividend of 9.8 pence per share, and suspended all existing financial guidance, citing the uncertainties caused by the impact of COVID-19.

The Board continues to closely monitor Government guidance in respect of COVID-19. The company said it is too early to make a reliable forecast about the duration or impact of the pandemic. The Board expects it to have a significant impact on both construction output and reservations.

The group said it started the calendar year well with good customer demand for high quality new homes across the country and, until the past week, trading performance was in line with expectations.

The Group delivered 10,364 home completions in the period ended 22 March 2020, compared to 9,437 home completions in 2019.

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