Taylor Wimpey shares climb on special payout plan

British housebuilder Taylor Wimpey promised investors larger payouts till 2018 than previously expected on Tuesday, underpinned by strong demand for property in the UK. 

Shares in Taylor Wimpey touched their highest in more than four months at 196.8 pence, making the stock the second-top percentage gainer on London’s blue chip Ftse index.

The company said it would pay shareholder £1.3bn (€1.65bn) by the end of 2018, which analysts at Jefferies said was higher than its previous dividend payout target of £1.13bn.