York-based housebuilder Persimmon said in a trading update its total forward sales revenue was currently £2.56 billion, up 11% on last year.

“We have 8,928 new homes sold forward into the private ownership market with an average selling price of c. £229,500, an increase of 4.1% over the prior year,” said Persimmon.

The company said its operational performance continued to be excellent supported by the resilience of the UK economy.

It added: “Exercising capital discipline through the cycle whilst growing the business as market conditions allow are key features of the group’s strategy launched in early 2012.

“Our Capital Return Plan to return surplus capital to shareholders over the ten year period to 2021 continues to be a fundamental element of this capital discipline.

“As announced on 27 February 2017, an additional payment under the Capital Return Plan of 25p per share, or £77 million, was paid to shareholders as a dividend on 31 March 2017.

“At the same time the board confirmed that the scheduled return of 110p per share, or £338 million, will be paid to shareholders on 3 July 2017 also as a dividend.

“These payments will bring the total value of surplus capital returned to shareholders at that date to £1,488 million, or £4.85 per share.

“This total is £629 million greater than that originally planned at launch in 2012.  

“The successful trading performance of Persimmon has enabled the board to increase the value of the original Capital Return Plan by 49%, or c. £937 million.

“The total value of the Capital Return Plan is now c. £2.85 billion, or £9.25 per share.”