The new chairman of Persimmon’s remuneration committee has sought to draw a line under the housebuilder’s bonus scandal as she confirmed three executives had been paid bonuses in excess of £100m last year.

In its annual report, Persimmon also confirmed that should shareholders approve a £1.10 dividend payment at the annual meeting in July, thereby reaching a long-term capital return plan target, a further bonus of £51m will be paid out to the executive team as part of the group’s 2012 long-term incentive plan. This is 50% what would have been paid after 50% was waived when the scale of payments became public. As part of this agreement the second tranche of the payouts must be held as shares for longer.

In 2017, chief executive Jeff Fairburn was paid a total of £47m, finance director Mike Killoran received £37m and managing director David Jenkinson received £20m.

Writing in the annual report, Marion Sears said: “Under the agreement, the top three executives are legally entitled to receive these payments and legal advice re-confirmed that the remuneration committee had no discretion to modify them.”

A number of measures have been put in place by Persimmon to reduce executive entitlement to shares and cap bonuses.