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 GG00B4L84979 ORD NPV
  Price Change Price Change % Stock Price High Price Low Price Open Price Close Price Last Trade
  2.50 0.32% 790.00 802.50 771.00 779.00 787.50 16:35:05
more quote information »
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
25/07/2019InterimUSX4.1730/12/201830/06/201914/11/201915/11/201905/12/20190
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
03/9/2019
03:40
ronchong: Not sure why everyone on this board is so fixated on the daily share price of Bur. Ben Graham once said "In the short run, the market is a voting machine but in the long run, it is a weighing machine." Over the short term, the market is driven by sentiments and current sentiments for burford are not great.There appears to also be more at play here & it is not hard to understand why given its nature of business. If you look at the volume data for burford for the past week, the data shows sell orders that are multiples higher than the average day volume near the close on the day of 27/08, 28/08, 30/08, 02/09 artificially keeping the closing price low even tho most of muddy waters claims have been dismissed. Burford is bound to have made some enemies along the way & it should not be surprising that someone is taking the chance to bring them down. The shorts have brought up some compelling arguments and gave all of us interesting insights into Burford operations. However so far, it seems like none of them has held up and I would like to thank them for the long overdue changes they have effected. For the longs that have done their due diligence, this gives you an opportunity to obtain part ownership at in a wonderful business for only 1.5x the book value. For anyone that has ever been to a litigation finance conference, you would know how highly respected Burford is, even by their closest competitors. Specialty Fin thrives on superior underwriting and It is telling when none of the other litigation funders have not come out to capitalize on this but cleared burford of any wrongdoings (LCM). Sure, Argentina is a wild card but the last remembered, bonds were still trading even at the very worst, a 70% discount to par when Argentina defaulted. At 30% ROE compounded, Burford is a steal at the current price and like all longs would, I have never been happier for a price like this. Continue taking the long term view and filter out the noise & trolls on this board. You will be a lot wiser and richer in 10 years time. Ron
15/8/2019
23:11
sweet karolina2: winsome, Do you have a link to the Viceroy report on Burford? I would be very happy to do a side by side review of Viceroy and Burford. Obviously the purpose of the Viceroy report on Burford was to inform the client who paid them for it as to whether or not they should make a bid for Burford - they decided not to, and the purpose of the MW report was to create a shock correction in Burford's share price. As for the other company you mention, I have no knowledge of it or interest in it. However frauds and dogs exhibit many common characteristics. These are colloquially know as red flags (see post 10888 in the header for some examples), individually they do not prove much, but when there are a lot of them, then it is definitely worth avoiding a company. Whether they make it worth launching a short attack is more debatable. But in every analysis of a company that is not worth taking the risk of buying or taking the much greater risk of shorting (something I have not done for over a decade) there will almost certainly be many of the same red flags, hence I think your charge of plagiarism would be hard to substantiate but feel free to have a go yourself, just remember to avoid confirmation bias in your analysis. Burford has more red flags than May Day in Moscow, today's RNS was the first step in removing some of them. As I have said before, still a very long way to go, but every long journey has to start somewhere. Anyway looking forward to you providing the link to the Viceroy report on Burford, do let us know if you also stumble across a link to the 2013 case which Napo won and could credibly have provided a $15.8m return to BUR.
15/8/2019
12:40
galatea99: Mr Bearbull of Investors Chronicle on Burford. Quite a long commentary that starts: "It should be obvious why I am writing about companies that run a mismatch between profits and cash flow. It’s to do with the fun and games at litigation financier Burford Capital (BUR). It wouldn’t surprise me if Burford is a can of worms. Yet the point isn’t to pass judgement on it. That’s why a PDF of the Muddy Waters research sits unread on my desktop, lest it influence me. Rather, the aim is to draw investors’ attentions to the type of company that Burford might be, or Aero Inventory was. That said, the ‘safety’ spreadsheet could have been written with Burford in mind. The company may set records for the gap between accounting profits and cash flow (see table). While operating profits rose almost eight times in the four years to end 2018, cash flow resolutely went in the opposite direction. As a result, over the five years 2014-18, $363m (£295m) of cash left the group before interest and taxes while the income statement simultaneously totted up $863m of operating profit. And in the most recent year – 2018 – the gap between profit and cash flow is a mind-boggling $543m." ........................ "These are the sort of shares that I would only consider buying at a steep discount to net assets, whose value – almost by definition – is tentative. In Burford’s case, the latest net asset figure is 573p a share. So, even at the current 808p (down 60 per cent from its 12-month high), the share price would have to halve, then drop some more before I would take an interest. Even then there is the issue of its corporate governance – idiosyncratic or risible? Has anyone noticed that next month all four of its four-man board solely comprising non-executive directors will cease to be independent? Still, as I say, it’s not really about Burford." Https://www.investorschronicle.co.uk/comment/2019/08/15/against-the-flow/ "It wouldn’t surprise me if Burford is a can of worms"! This is one of IC's flagship columns.
14/8/2019
19:10
sweet karolina2: dgdg, The pressure is intense to report bigger and bigger profits each year, especially when more money has been put in. MW was certainly right to question why the uplift on a lost case. But if $15.8m is just the lost arbitration which probably cost around $800k and the 2014 uplift is the lost Napo case for an outlay of $6.6m this is an incredible way to treat clients. We fund your litigation and win or lose we take what we would have got had you won! Does that really make sense as a good deal? The conversion of "investment" in the court cases converted into debt in Napo 10 Oct 14 according to MW - I am not sure where he got that date from. "Burford restructured its financing arrangements with Napo to become entitled to certain fixed payments and to give Napo greater flexibility to reorganize its business" this was moving the debt into payments that actually came from the IPO and into shares all well down the line. I doubt the IPO could have happened with such a large debt already in place. What do you make of Miriam's departure some time before 3 Nov 14 ie after the debt conversion and after the bond issue? The RNS announcing she had left (not was leaving) is here: Https://uk.advfn.com/stock-market/london/burford-capital-BUR/share-news/Burford-Capital-Operating-Management-Update/64257912 but the bit about Miriam is: Miriam Connole, Burford's CFO, has left Burford to pursue other opportunities. Her current deputies, Mr. Jamie Knowles, Burford's UK-based Group Financial Controller, and Ms. Christina Yue, Burford's US-based Vice President Finance, have been given expanded role accountabilities and, together with the forthcoming hiring of a tax manager, will run Burford's finance function and report to Mr. Garber, who will assume responsibility for the overall function subject to the supervision of the relevant entity boards of directors. Both Mr. Knowles and Ms. Yue are qualified accountants; Mr. Knowles, who also has a law degree, was most recently a financial controller at RSA Group, and Ms. Yue was most recently a manager at Ernst & Young. Mr. Rowles-Davies will succeed Ms. Connole as a director of Burford Capital PLC, the issuer of Burford's retail bonds and a wholly owned subsidiary of BCHUKL. Do you think it is strange that the notification to the market is after she had gone and also there was no thanks and best wishes blah that normally appears when someone senior who has been there for so long goes. Also Jefferies believes Liz was really in the role from when Miriam left, but certainly no mention of that here. What do you then make of the Hogwarts defence against the dark arts professoresque procession of replacement CFOs leaving? You are getting the hang of looking at individual bits in more detail, but it is putting them all together to make the picture which should inform your opinion and therefore your investing decisions.
09/8/2019
12:31
sweet karolina2: "SweetKarolina, I think your comments about growth of the share price are very misleading. If you look at the Net Assets/Total Assets/Book Value of IMF Bentham it is AUD 368m (page 63 of their annual report). Their market capitalisation is AUD 665m. Hence 1.8x book value (665m/368m)." Book value at IMF is what they have put in at BUR it is fair value guess work. That is the point. Has BUR really been growing as quickly as its accounts suggest? Surely IMF would have gone down the same path 10 years ago. If IMF was just a grown up version of BUR that had stopped growing and using lumpy accounting it would report profits of $500m one year and $100m the next not $10s of M in a good year and a loss in bad year. Hence there is something fundamentally different between the businesses and not just accounting methods, or BUR's accounting methods allow them to report bogus profits and NAV and nobody can tell - it would be very hard for IMF to cook the books. If BUR really want to clear their name they should get IMF's accountants to produce accounts from the raw data, verifying each bit of data and see how the picture looks - it should just be a more lumpy version of what BUR reported in terms of historic profits. IMF also report specific cases which have completed in the year. BUR now only produce a summary by cohort so it is not easy to see where values of specific cases have changes (BUR used to, which is why MW were able to catch them out on Napo - BUR just put a different (not particularly convincing IMHO) spin on it, but confirmed the raw facts)
08/8/2019
01:22
stevoc1964: From this mornings Telegraph:-LEAD STORY'Bear raid' on Burford piles further woes on WoodfordEmbattled fund manager is caught up by attack on one of his major investments, which sees its shares slump     By Harriet Russell? and Michael O'DwyerNEIL WOODFORD suffered a fresh blow yesterday when one of his most successful investments, litigation funder Burford Capital, came under attack from short seller Muddy Waters, which accused the company of "egregiously misrepresenting" its returns.Burford Capital was a top 10 holding in Mr Woodford's now-suspended equity income fund. According to the latest available data, his funds still own more than 7pc of Burford.Muddy Waters claimed in a note published yesterday that Burford "is a perfect storm for an accounting fiasco" and that its "governance strictures are laughter-inducing".As a litigation funder, Burford puts up the cash to help costly legal cases proceed. Investors, such as hedge funds, agree to invest in exchange for attractive returns if the cases are won.The short seller also hit out at Invesco, Burford's largest shareholder and Mr Woodford's ex-employer, for what it called "unethical behaviour"."We also see Invesco fund manager Mark Barnett as having been equally complicit in ways reminiscent of some of the highly aggressive marking value techniques he and Neil Woodford have employed together," the report stated.It highlighted Invesco's relationship with Napo Pharmaceuticals, which was backed by Burford in a legal case.Invesco said: "We categorically refute any accusation of improper or unethical behaviour on behalf of Invesco or fund manager Mark Barnett."Invesco has been a long-term shareholder of Burford Capital and held investments in Napo since 2006. These investments were made and overseen in line with our robust investment and independent oversight processes. Invesco's legal advisers are reviewing the accusations and we expect we will be able to make a broader statement in due course." Woodford Investment Management declined to comment.Muddy Waters asserted that Burford relied on "a very small number of cases" for its returns.Responding to the note, Burford said its board "takes note of the short attack report by Muddy Waters, a firm known for such tactics, and believes that the report's criticisms are without merit". It added: "Burford will issue a detailed response to the report as soon as practicable and, following that detailed response, will also convene an investor conference call ... in due course."It said that directors would buy more Burford shares once a response to the Muddy Waters' report was published.Burford issued a stock exchange statement earlier yesterday, prior to the Muddy Waters' note, after its share price fell by almost a fifth on Tuesday on speculation that it was the subject of a cryptic Muddy Waters tweet.Yesterday, the company's shares halved in value to 561p. Analysts at Jefferies said they thought Burford should "seek longer-term remedies" by issuing more market updates.The fallout threatened to engulf the wider litigation funding industry.Shares in Litigation Capital Management fell as much as 28pc before recovering to be 5pc lower, while Manolete Partners fell as much as 21pc before ending 13pc down. There is no suggestion of any misconduct at either firm.LCM boss Patrick Moloney said: "LCM has consistently prepared its accounts and its return metrics on a conservative cash accounting basis. There is no fair value accounting in our numbers. We are committed to providing investors with the disclosure and transparency needed to assess the underlying basis of our returns and performance."
07/8/2019
10:06
terry barnett: Released : 07 August 2019 RNS Number : 2085I Burford Capital Limited 07 August 2019 7 August 2019 STATEMENT RE SHARE PRICE MOVEMENT The Board of Directors of Burford Capital Limited ("Burford Capital" or "Burford" or the "Company") notes the decline in the Company's share price yesterday and confirms that it knows of no operational or corporate reason for the price movement. Burford just reported the best results in its history and highlights the following: • Burford's cash position and access to liquidity is strong. To be sure, Burford will need to take on additional external capital to continue its growth as it has done successfully throughout its history, but this is a cause for celebration, not for alarm, because it means the business is growing rapidly. We have discussed our capital structure at length in the past. Burford has a wide variety of capital sources available to it and significant ability to manage its cash outflows, and has over $400 million of cash and cash equivalents on hand as of 5 August 2019. • Burford's returns are robust. In fact, our litigation finance returns rose to their highest-ever levels as of 30 June 2019. • Burford uses the same IFRS accounting that is used widely across the financial services industry and has used consistent accounting policies for many years. Burford has been audited by Ernst & Young since 2010 with clean audit opinions every year. • In addition to our audited IFRS reporting, Burford provides cash-based investment reporting in extraordinary detail, including providing line-by-line investment detail about every litigation finance investment we have ever made. We just put the latest installment of that reporting on our website yesterday. We are transparent about how we analyse and report on that data; our approach has been consistent for many years. Burford believes that yesterday's share price movement relates to a rumour of a potential "short attack" or "bear raid", a tactic where short sellers take on a short position in a company's stock and then engage in claims about the company in an effort to alarm investors, depress a company's stock and profit from the decline. Burford also believes that some of its prior recent share price volatility is related to such activity. There is a clear line between appropriate commentary and market manipulation, and Burford is investigating, with the assistance of market experts and experienced outside litigation counsel, the market activities here and will take appropriate legal action should we discover actionable misconduct. We are strongly suspicious that yesterday's significant fall in the share price was based on such actionable misconduct. Short sellers of this ilk are not long-term investors. Rather, their goal is to panic investors into selling their holdings and thereby to drive down the share price. If investors oblige them, then the attack succeeds, long-term investors are harmed and the short sellers pocket a quick payday. Companies are largely powerless to intervene in this dynamic other than by continuing to perform, just as Burford has been; the way to thwart the attacks is for investors to recognize manipulation for what it is and not behave as the short sellers hope. Burford will continue to focus on business performance in our growing market and its long-term goals. For further information, please contact: Burford Capital Limited Elizabeth O'Connell, CFA, Chief Financial Officer +1 212 235 6825 Macquarie Capital (Europe) Limited - NOMAD and Joint Broker +44 (0)20 3037 2000 Jonny Allison Alex Reynolds Liberum Capital Limited - Joint Broker +44 (0)20 3100 2222 Richard Crawley Jamie Richards Numis Securities Limited - Joint Broker +44 (0)20 7260 1000 Charlie Farquhar Jonathan Abbott Montfort Communications Limited - Financial Communications +44 (0)20 3770 7908 Robert Bailhache - email About Burford Capital Burford Capital is the leading global finance and investment management firm focused on law. Its businesses include litigation finance and risk management, asset recovery and a wide range of legal finance and advisory activities. Burford is publicly traded on the London Stock Exchange, and it works with law firms and clients around the world from its principal offices in New York, London, Chicago, Washington, Singapore and Sydney. For more information about Burford: www.burfordcapital.com This release does not constitute an offer of any Burford fund. Burford Capital Investment Management LLC ("BCIM"), which acts as the fund manager of all Burford funds, is registered as an investment adviser with the U.S. Securities and Exchange Commission. The information provided herein is for informational purposes only. Past performance is not indicative of future results. The information contained herein is not, and should not be construed as, an offer to sell or the solicitation of an offer to buy any securities (including, without limitation, interests or shares in the funds). Any such offer or solicitation may be made only by means of a final confidential Private Placement Memorandum and other offering documents. This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com. END
07/8/2019
07:11
lomax99: RNS Number : 2085IBurford Capital Limited07 August 20197 August 2019STATEMENT RE SHARE PRICE MOVEMENTThe Board of Directors of Burford Capital Limited ("Burford Capital" or "Burford" or the "Company") notes the decline in the Company's share price yesterday and confirms that it knows of no operational or corporate reason for the price movement.Burford just reported the best results in its history and highlights the following:-- Burford's cash position and access to liquidity is strong. To be sure, Burford will need to take on additional external capital to continue its growth as it has done successfully throughout its history, but this is a cause for celebration, not for alarm, because it means the business is growing rapidly. We have discussed our capital structure at length in the past. Burford has a wide variety of capital sources available to it and significant ability to manage its cash outflows, and has over $400 million of cash and cash equivalents on hand as of 5 August 2019.-- Burford's returns are robust. In fact, our litigation finance returns rose to their highest-ever levels as of 30 June 2019.-- Burford uses the same IFRS accounting that is used widely across the financial services industry and has used consistent accounting policies for many years. Burford has been audited by Ernst & Young since 2010 with clean audit opinions every year.-- In addition to our audited IFRS reporting, Burford provides cash-based investment reporting in extraordinary detail, including providing line-by-line investment detail about every litigation finance investment we have ever made. We just put the latest installment of that reporting on our website yesterday. We are transparent about how we analyse and report on that data; our approach has been consistent for many years.Burford believes that yesterday's share price movement relates to a rumour of a potential "short attack" or "bear raid", a tactic where short sellers take on a short position in a company's stock and then engage in claims about the company in an effort to alarm investors, depress a company's stock and profit from the decline. Burford also believes that some of its prior recent share price volatility is related to such activity.There is a clear line between appropriate commentary and market manipulation, and Burford is investigating, with the assistance of market experts and experienced outside litigation counsel, the market activities here and will take appropriate legal action should we discover actionable misconduct. We are strongly suspicious that yesterday's significant fall in the share price was based on such actionable misconduct.Short sellers of this ilk are not long-term investors. Rather, their goal is to panic investors into selling their holdings and thereby to drive down the share price. If investors oblige them, then the attack succeeds, long-term investors are harmed and the short sellers pocket a quick payday.Companies are largely powerless to intervene in this dynamic other than by continuing to perform, just as Burford has been; the way to thwart the attacks is for investors to recognize manipulation for what it is and not behave as the short sellers hope.Burford will continue to focus on business performance in our growing market and its long-term goals.
07/8/2019
07:03
edmondj: 7 August 2019 STATEMENT RE SHARE PRICE MOVEMENT The Board of Directors of Burford Capital Limited ("Burford Capital" or "Burford" or the "Company") notes the decline in the Company's share price yesterday and confirms that it knows of no operational or corporate reason for the price movement. Burford just reported the best results in its history and highlights the following: • Burford's cash position and access to liquidity is strong. To be sure, Burford will need to take on additional external capital to continue its growth as it has done successfully throughout its history, but this is a cause for celebration, not for alarm, because it means the business is growing rapidly. We have discussed our capital structure at length in the past. Burford has a wide variety of capital sources available to it and significant ability to manage its cash outflows, and has over $400 million of cash and cash equivalents on hand as of 5 August 2019. • Burford's returns are robust. In fact, our litigation finance returns rose to their highest-ever levels as of 30 June 2019. • Burford uses the same IFRS accounting that is used widely across the financial services industry and has used consistent accounting policies for many years. Burford has been audited by Ernst & Young since 2010 with clean audit opinions every year. • In addition to our audited IFRS reporting, Burford provides cash-based investment reporting in extraordinary detail, including providing line-by-line investment detail about every litigation finance investment we have ever made. We just put the latest installment of that reporting on our website yesterday. We are transparent about how we analyse and report on that data; our approach has been consistent for many years. Burford believes that yesterday's share price movement relates to a rumour of a potential "short attack" or "bear raid", a tactic where short sellers take on a short position in a company's stock and then engage in claims about the company in an effort to alarm investors, depress a company's stock and profit from the decline. Burford also believes that some of its prior recent share price volatility is related to such activity. There is a clear line between appropriate commentary and market manipulation, and Burford is investigating, with the assistance of market experts and experienced outside litigation counsel, the market activities here and will take appropriate legal action should we discover actionable misconduct. We are strongly suspicious that yesterday's significant fall in the share price was based on such actionable misconduct. Short sellers of this ilk are not long-term investors. Rather, their goal is to panic investors into selling their holdings and thereby to drive down the share price. If investors oblige them, then the attack succeeds, long-term investors are harmed and the short sellers pocket a quick payday. Companies are largely powerless to intervene in this dynamic other than by continuing to perform, just as Burford has been; the way to thwart the attacks is for investors to recognize manipulation for what it is and not behave as the short sellers hope. Burford will continue to focus on business performance in our growing market and its long-term goals.
25/7/2019
18:32
galatea99: Bloomberg Law article: "Burford Capital’s share price fell as much as 9% on Thursday after the litigation finance company reported a record first half for profit and commitments to invest in new lawsuits but a research firm questioned its cash balance. Burford said its adjusted pretax profit rose 41% from the prior first-half period to $231 million as its total assets rose 37% to $2.3 billion. Its core litigation finance business—investing in standalone disputes and portfolios of lawsuits—allocated $381 million to new investments in the first half of the year. That was up 47% from the prior year period, and driven in large part by a new agreement to finance $130 million of an unnamed company’s portfolio of cases. The amount Burford actually spent in the period to back new investments grew at a more tepid 8% to $448 million. That figure includes business lines outside of core litigation finance such as asset recovery, post-settlement financing and legal risk management. Research and fund management firm Shadowfall said in a Tweet it has a short position in Burford due to its belief that “Burford has a pretty strong inverse relationship between its profitability and cash flow.” Burford CEO Chris Bogart in an interview said that criticism was “a little naïve” when applied to a fast-growing business that relies on investing its capital. He said Burford had used debt and capital fundraising to fuel its growth because of the long-term nature of investing in lawsuits. “There are two choices: To grow much more slowly, in which case we are generating enough cash” to cover new investments, Bogart said. “And the other is to grow more quickly, in which case we need to rely on the availability of external capital as well. And that has always been our approach.” Bogart attributed the share-price dip to investors taking profits on the firm’s good news. While the shares have risen to nearly 17 times its 2009 IPO level, they have fallen roughly 5% year-to-date, lagging the broader market. More broadly, Bogart said Burford’s first-half results showed “considerable” growth in the business driven by “the growing ubiquity of capital” in the legal industry. Burford will celebrate its 10th anniversary in October. “We have gone from this being an esoteric, remarkable thing to being business as usual,” Bogart said. “It’s that concept of this being business as usual that drives a fair bit of our growth.” Https://biglawbusiness.com/burford-capital-reports-record-first-half-shares-drop
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