Burford Capital Dividends - BUR

Burford Capital Dividends - BUR

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Stock Name Stock Symbol Market Stock Type Stock ISIN Stock Description
Burford Capital Limited BUR London Ordinary Share GG00BMGYLN96 ORD NPV (DI)
  Price Change Price Change % Stock Price Last Trade
36.50 5.03% 761.50 16:35:05
Close Price Low Price High Price Open Price Previous Close
761.50 723.40 772.00 732.40 725.00
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Industry Sector
EQUITY INVESTMENT INSTRUMENTS

Burford Capital BUR Dividends History

Announcement Date Type Currency Dividend Amount Period Start Period End Ex Date Record Date Payment Date Total Dividend Amount
25/07/2019InterimUSX4.1731/12/201831/12/201914/11/201915/11/201905/12/20194.17
13/03/2019FinalUSX8.8331/12/201731/12/201823/05/201924/05/201914/06/201912.5
25/07/2018InterimUSX3.6730/12/201730/06/201808/11/201809/11/201805/12/20180
14/03/2018FinalUSX7.9531/12/201631/12/201731/05/201801/06/201822/06/201811
27/07/2017InterimUSX3.0530/12/201630/06/201719/10/201720/10/201715/11/20170
14/03/2017FinalUSX6.4831/12/201531/12/201625/05/201726/05/201716/06/20179.15
27/07/2016InterimUSX2.6730/12/201530/06/201606/10/201607/10/201628/10/20160
23/03/2016FinalUSX5.6731/12/201431/12/201526/05/201627/05/201617/06/20168
28/07/2015InterimUSX2.3330/12/201430/06/201501/10/201502/10/201523/10/20150
18/03/2015FinalUSX731/12/201331/12/201407/05/201508/05/201501/06/20157
31/03/2014FinalUSX5.2331/12/201231/12/201321/05/201423/05/201416/06/20145.23
11/04/2013FinalUSX4.7631/12/201131/12/201222/05/201324/05/201317/06/20134.76
04/04/2012FinalUSX3.6631/12/201031/12/201118/04/201220/04/201223/05/20123.66
23/03/2011FinalUSX2.2231/12/200931/12/201006/04/201108/04/201117/05/20112.22

Top Dividend Posts

DateSubject
19/10/2020
15:51		alter ego: RNS just out says "Burford shares started trading on the NYSE at 9:30 AM ET today following the completion of the transition of its share register to the US, establishing the company's dual listing on the NYSE and London Stock Exchange AIM. In both listing venues, Burford shares are quoted under the stock ticker BUR with the new ISIN GG00BMGYLN96." HL are showing the stock under the ticker BURL not BUR. Confusing.
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19/10/2020
14:36		brexitplus: BURFORD CAPITAL BEGINS TRADING ON THE NEW YORK STOCK EXCHANGE NYSE-listing is a first for the growing legal finance market Burford Capital Limited ("Burford Capital" or "Burford" or "the Company"), the leading global finance and asset management firm focused on law, today announced that it has successfully listed on the New York Stock Exchange ("NYSE"), becoming the first ever legal finance firm to be publicly traded in the US and the first dual listed company in the legal finance industry. Burford's listing not only marks a milestone in its own history, it also brings increased visibility and accountability to the global commercial legal finance market. Legal finance is increasingly relevant given economic pressures that make businesses eager to contain costs, conserve cash and maximize profitability , and as commercial disputes typically rise following a downturn, the need for finance will increase. Since its launch in 2009, Burford has achieved notable success in identifying and monetizing legal claim assets-the core skillset of legal finance. It has worked with Fortune 500 companies as well as 93 of the AmLaw 100 and 89 of the 100 largest global law firms, providing financing for fees and expenses associated with commercial disputes as well as monetizing claims and awards, and has built a $4 billion portfolio. A recent example of Burford's activity is the $75 million monetization of a pending claim for a Fortune 100 company that enabled it to optimize cashflow and offload legal expense risk. Burford shares started trading on the NYSE at 9:30 AM ET today following the completion of the transition of its share register to the US, establishing the company's dual listing on the NYSE and London Stock Exchange AIM . In both listing venues, Burford shares are quoted under the stock ticker BUR with the new ISIN GG00BMGYLN96. Christopher Bogart, CEO of Burford, commented : "This is a proud moment for me, Burford's co-founder Jonathan Molot, and indeed for the whole Burford team. Our NYSE listing exemplifies our culture of excellence, innovation and providing solutions to clients as the leading global finance and asset management firm focused on law. We are, once again, at the forefront of our sector, and our listing is evidence that legal finance is a sophisticated tool that plays an important role in the legal landscape. Our new listing will increase the pool of investors able to invest in Burford's shares while more broadly raising our profile in the US capital markets, which may in time lower our cost of capital. For our clients, this listing gives them further proof that working with us means partnering with a gold standard finance firm that is open and transparent about its operations."
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19/10/2020
14:19		gusrezo: the broker DeGiro has performed a change of ISIN for Burford shares (if you own the shares in this broker, it has actually annotated a "sell" and "buy" operations, it has happened before with other companies with corporate events such a uplisting to a most senior market). If you look at the ISIN in the LSE page, the ISIN is GG00BMGYLN96 https://www.londonstockexchange.com/stock/BUR/burford-capital-limited/company-page but in morningstar or burford website (at listed in google search) is different: GG00B4L84979 . So probably your broker needs to perform some action.
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19/10/2020
08:53		stentorian: ii show my BUR holding and value at £7.25/share - but they have invalidated the "BUR" TIDM. ii issued a corporate action notice as follows: "Stock BURFORD CAPITAL LT ORD NPV Event Type Mandatory Conversion Description Mandatory Conversion Terms: 1 new Depository Interest (DI) in Burford Capital for each existing share held. Trading Blocked from: Close of business of 13th October 2020. Expected Effective Date: 19th October 2020 Burford Capital Limited is in the process of arranging for its shares to be listed for trading on the New York Stock Exchange (NYSE). As a result of this, in order to allow trading of your holding in Burford Capital Limited to continue on the Alternative Investment Market (AIM), we will elect on your behalf to convert your existing shares into Depositary Interests (DI's), on a 1-for-1 basis In order to facilitate this, we will block trading in Burford Capital Limited shares at close of business on 13th October 2020. This means you will not be able to sell or buy shares in Burford Capital Limited from that time until we receive the new DI's and credit them to customer accounts. The new DIs are expected to be issued on 19th October 2020 and accounts will be credited upon receipt of these from the UK Depository."
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15/10/2020
12:17		rar100: The following is Interactive Investors info on BUR in my p/folio. StockBURFORD CAPITAL LT ORD NPV Event TypeMandatory Conversion DescriptionMandatory Conversion Terms: 1 new Depository Interest (DI) in Burford Capital for each existing share held. Trading Blocked from: Close of business of 13th October 2020. Expected Effective Date: 19th October 2020 Burford Capital Limited is in the process of arranging for its shares to be listed for trading on the New York Stock Exchange (NYSE). As a result of this, in order to allow trading of your holding in Burford Capital Limited to continue on the Alternative Investment Market (AIM), we will elect on your behalf to convert your existing shares into Depositary Interests (DI's), on a 1-for-1 basis In order to facilitate this, we will block trading in Burford Capital Limited shares at close of business on 13th October 2020. This means you will not be able to sell or buy shares in Burford Capital Limited from that time until we receive the new DI's and credit them to customer accounts. The new DIs are expected to be issued on 19th October 2020 and accounts will be credited upon receipt of these from the UK Depository.
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14/10/2020
11:57		jeff h: Jefferies - What to look out for next year We stress that BUR is not just about the YPF-related assets, and the H1 2020 results show that clearly, but the Petersen and Eton Park cases are going to trial in June in the Southern District of New York and there is very considerable potential upside...... We would note though that our valuations do not include interest, which might be awarded by the court. We understand that US Federal courts typically apply interest of 9% to judgement debts, charged from the date of the plaintiff's loss. Burford's top-end outcome of $5.6bn is the same as our valuation on the highest YPF P/E ratio in the two years to 12 January 2012 with nine years of 9% interest applied (expropriation in 2012, judgement in 2021). It is definitely not impossible that BUR is awarded a sum about three times its current market cap next summer. Possible outcomes: Loss - If they lose the case and cannot appeal, BUR will write off $773m of its portfolio, crystallising a loss of $3.52 per share. The share price would likely fall even further. If that happens, we would still be buyers of the stock, because the loss of Petersen and Eton Park will not affect the rest of the portfolio, which would probably be undervalued by the market. We expect BUR would appeal if it lost. Win - If BUR does win, the defendants will appeal, probably all the way to the Supreme Court. We think it could take another two years for that process to play out. While we understand that there is a constituency within the company which would like to retain maximum exposure to the case, we think there is also an argument in favour of realising some more value from the asset before it concludes completely....
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13/10/2020
13:33		jeff h: Jefferies Burford Capital Ltd - A Big Year Ahead Key Takeaway The HY results supported our thesis that the large commitment vintages of 2016 and onwards should start to have a bigger impact on the P&L from now on. We have high conviction that the $262m receivable generated in the period will be collected, meaning BUR will emerge from the pandemic into a target-rich environment with plenty of firepower. We expect the US listing to be positive, and the YPF cases should go to trial in June. Our PT increases to 1,150p, Buy. Good contribution from recent vintages: H1 realisations of $308m from the direct portfolio included $266m from 18 related cases from three vintages (2016, 2017 and 2019). Although this means returns were fairly concentrated in the period, of the other $42m realised, the bulk came from the 2017 vintage ($39m). So the bigger, more recent vintages provided almost all the realisations, income and profit in the period. Collections will be strong in H2: The cases underlying the bulk of realisations concluded late in H1. They related to a North American Federal Statutory law case in the insurance sector; all avenues of appeal have been exhausted. The company's complete confidence in the creditworthiness of the defendant corresponds with the defendants in matters we can find which concluded before BUR's results on 28 April. We, therefore, expect the company to collect the receivable in full, and most of it this year. War chest building: We expect deployments to remain muted in H2, but slightly up on H1, and the same for commitments. This means our balance sheet cash forecast is $416m for the year-end, up from $316m reported as of 15 September. Assuming the pandemic recedes next year and legal and business processes begin to return to pre-Covid levels, 2021 could be a strong year for commitments, with deployments picking up after that. Investment case reinforced and doubts allayed: The H1 2020 earnings benefited from high returns on 2019 commitments, meaning that BUR has made a 200% ROIC or more on at least one asset from every vintage except 2012 and 2013, demonstrating that it can replicate past success. We also note the steady IRR of c.30% since 2015. The rigorous SEC registration process should put any doubts about BUR's accounting to rest, and the company is well funded, as noted above. YPF-related assets: BUR's investment case is really about consistent high returns, and we expect BUR to be able to average a 60% ROIC in the long term. However, the YPF assets are an outlier which we cannot ignore. If BUR loses at trial in June 2021, they will have made $236m on a $21m investment. If they win, it will likely be a multiple of that. The top end of their possible balance sheet recovery range is $5.6bn,or about 3x the market cap and c. 7x the carrying value of $773m. A trial win in June would not conclude the matter, but it would open up several options for BUR and would be a major event for the share price. What is it worth? We set the YPF assets aside at carrying value ($3.52/share) and value the rest of the business on a P/B multiple derived from a Gordon Growth Model. Our valuation of 1,150p ($14.91) implies the YPF assets are not in the current share price.
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13/10/2020
10:17		dagoberia: Hi DP may i ask how do you know Burford will benefit from this? Tried googling it but other articles came up. Burford seem to be involved in quite a few emission litigations. I think we saw earlier on that Burford was linked to the Daimler - Volvo truck cartel price fixing court case. Saw an other article on Daimler/Mercedes emissions court case but BUR was not mentioned.
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04/7/2020
10:00		lomax99: Paul Scott's comment yesterday on Manolete on Stockopedia mentioned Burford:Final Results - I've not come across this company before. It floated in Dec 2018, and seems to be involved in litigation financing. Graham outsourced coverage of it to subscriber abtan who wrote an interesting piece on it here on 21 Nov 2019. Reading that piece, it's clear that this share is not of interest to me, and I'm not interested in ploughing through loads of details on individual cases in order to work out what the shares might be worth.Having a quick skim of the results today FY 03/2020, the headline numbers look good - adjusted (for IPO costs) PBT up 40% to £9.5m.Final divi doubled to 3p (a very low yield though). Outlook statements reads positively.My main worry with this sector (as some readers have commented on below) is that short sellers attacked another, larger, litigation funding company, Burford Capital (LON:BUR) and the share price has never recovered - currently sitting at about 500p, still about 75% down from its peak. I remember listening to the conference call from Burford when it was fighting the shorting attack, and it struck me how many potential problems there are with estimating the outcomes of cases, realised/unrealised profits, selling fractions of cases just before the year end to establish a higher book value, etc. It sounded an absolute minefield. The more information Burford provided, the more questions it seemed to stimulate.According to the StockReport, Burford seems to currently sit at a Price to Tang.Book of about 1, which seems a sensible valuation to me. The equivalent metric for Manolete is 7.2. The latest balance sheet as at 31 Mar 2020 only has net assets of £34.9m, a P/NTAV of a very high 6.8 times. Looking at the list of its RNSs, I don't see anything that suggests it has done a placing since the year end, so the balance sheet would still be similar now.Clearly the business is being valued on a multiple of earnings, and net assets are largely being ignored. Whereas the short sellers smashed up that valuation basis for Burford, and hauled it down to a P/NTAV of only 1. What's to stop them doing the same thing with Manolete?My opinion - good luck with it, but this is not a sector I would want to invest in, given what happened to Burford.
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27/6/2020
14:51		375uv: Good feedback from all. Argentina will go to any extent before paying a single cent to those "hated vulture funds" (although Burford is far from being one). Believe it or not, Burford has a lot of support down here. Lots. Judge Preska is also the leading Judge in all of Argentina's debt litigations in the US. She is well known to us. Believe me when I say that she is pretty tired of the Petersen case and wants to move to the closing stages asap. However, if Argentina makes a compelling case that its Discovery plans should be considered, she will side with the Argies. Remember that the Forum of Non Conviniens was argued and settled in BUR's side on September 2016. Judge Preska agreed with BUR. However, Argentina made a compelling case as to why she should take the FNC argument once again and she did! So I wouldn't be surprised is she sides with Argentina once again when she publishes her upcoming Order. In any case, I agree with stentorian who said that Argentina should post a bond. BUR has plenty of argument to convince a US Court to do so. We are undergoing a debt restructuring process and our net foreign reserves barely reach $10bn. There is no guarantee that our government will pay BUR when and if this case is settled. I anticipate embargoes, liens or anything of the sort to force Argentina to pay BUR. Remember, this same government failed to obey now deceased Judge Griesa's Order to pay Paul Singer a monetary award of $2bn. The Judge ordered an injunction on all Argentina's interest payments. It took a new government to finally settled the case. So, if the Petersen case is over by 2H201, collection of any monetary award will no be easy. One final note, expect important news on the Eton case on July 10. Cheers.
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