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Housebuilder Berkeley has pledged to pay an additional 拢500m in dividends to shareholders over the next six years, after posting a solid set of half-year results for the six months to October 2015.

Berkeley has upped its dividend payment target from 拢13 per share to 拢16.34 per share by 2021.

With 拢4.34 per share having already been paid since the programme was introduced in 2011, the remaining 拢12 per share is planned to be paid in annual dividends of 拢2 per share over the next six years.

Over the half-year period Berkeley posted a small dip in pre-tax profit for 拢293.3m, down from 拢304.9m the previous year.

Berkeley said the dip was caused by the impact of exceptional ground rent sales, and with this stripped out, the firm achieved a 10.2% rise in adjusted pre-tax profit to 拢242.3m, up from 拢219.8m.

Berkeley chairman Tony Pidgley (pictured) welcomed 鈥渢he political support for the housebuilding sector in the Chancellor鈥檚 Autumn Statement鈥�, but said thje firm was 鈥渃oncerned that the continued changes to property taxation may well result in unintended consequences on the market and not lead to the level of housebuilding required to meet the underlying demand鈥�.

Berkeley confirmed the firm was appointed preferred bidder on the 27-acre redevelopment of Parcelforce鈥檚 site at Stephenson Street, West Ham, by the Greater London Authority.