No Tay dividend

TAY HOMES, the troubled Leeds-based house builder, yesterday told shareholders that they would receive no final dividend this year because of the cost of addressing a string of serious problems at the group.

Tay has removed all of its directors but one since March, when the Sunley Family, a rival builder with a 10 per cent stake, unsuccessfully sought to oust them at an egm. Sunley was supported by PDFM, the largest shareholder.