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Bellway chairman to retire

John Watson will retire as Bellway PLC's nonexecutive chairman at the U.K. homebuilder's annual general meeting on Dec. 12.

The company tapped Audit Committee Chair Paul Hampden Smith to replace Watson, effective the same day.

Bellway said its EPS for the year ended July 31 rose 14.2% year over year to a record 423.4 pence, thanks to strong trading performance and ongoing focus on growth.

The company's board is proposing to increase the total dividend for the year ended July 31 by 17.2% to 143.0 pence per share.