Andrews Property Group has announced its largest dividend payment to shareholders since 2004. Between them, Andrews Charitable Trust (ACT) and Speaking Volumes will share a payment of £1 million.
Andrews Property Group is owned by these two charitable trusts, which benefit from the profit the business generates – reflecting the philanthropic work of its founder, Cecil Jackson Cole. Since 1985, the business has paid out over £10m.
Group Chief Executive, David Westgate said, “From day one, Andrews has ensured that the communities that we’re part of benefit from what we do. But we need to remain visionary and ensure that our work continues to be relevant and make a difference.
“Today’s dividend announcement shows the commitment and hard work of the entire Andrews’ family to ensuring that the foundations on which we were built remain relevant and life-changing.”
85 per cent of the dividend goes to Andrews Charitable Trust. A major focus for ACT is the innovative housing scheme that was launched as part of Andrews’ 70th anniversary celebrations in 2016. It aims to purchase 50 homes, in areas where Andrews has a presence, over the coming 50 years as a means of supporting young people leaving the care system.
Sian Edwards, Executive Director at ACT, said, “Access to safe, decent housing can be the foundation stone for so many other benefits and life improvements, and the work that is already being achieved through bears testament to this. The funds received from Andrews will move this programme forward.”