Redrow dividend seems as safe as houses
Few companies divide investor opinion as strongly as the UK's housebuilders. Are the super-sized dividend yields on offer sustainable, or are they a sign that the market has peaked? The latest addition to our Income Boosters portfolio is a housebuilder which we think falls into the former category.
As we commented recently, we think there could be some value in housing. This week we're going to look at a housebuilder whose patient approach to rebuilding its dividend has resulted in a payout that might be the safest in the sector.
FTSE 250 firm Redrow (RDW) was founded by chairman Steve Morgan in North Wales, nearly 45 years ago. The firm originally specialised in drainage contracting, but by 1979 had moved into housebuilding. By 2006,…
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