Duke Capital Share Discussion Threads

[melloteam] 29/3/2022 11:30

Just to let shareholders and prospective investors know that The Property Franchise Group PLC, Adept PLC and Duke Royalty PLC will be presenting at MelloMonday, the Mello Events webinar on Monday 11th April at 6pm.

There will be over 500 investors attending and these are very popular shows with company presentations, fund manager and investor interviews, and panel sessions.

Tickets are still available and if you would like one at half price then enter the code MMTADVFN50.

[bend1pa] 18/3/2022 16:03

Yes, the big interim div increase can't fail to please. Topped up 12 days ago at 35p. Could well see 50p before this year is out, unless mad-dog Putin decides to ignite WW3 (still possible).

[btgman] 17/3/2022 08:07

Currently over 7% return reinvested and compounding is a very powerful investment results should be interesting with the Royalty kickers too

AIMHO
GLA
BTG

[cwa1] 17/3/2022 07:19

17 March 2022

Duke Royalty Limited

("Duke Royalty", "Duke" or the "Company")

Increased Interim Dividend and Dividend Declaration

Duke Royalty Limited (AIM: DUKE), a provider of alternative capital solutions to a diversified range of profitable and long-established businesses in Europe and North America, is pleased to announce that the Board has approved an interim dividend of 0.70 pence (sterling) per share, a 17% quarter-on-quarter increase of 0.10 pence.

This increase, which equates to an annualised dividend of 2.8 pence per share, reflects the Company's strong trading performance during the financial year to 31 March 2022 driven by a record GBP45.2 million of deployments during H2 2022 to date.

Duke Royalty CEO Neil Johnson said:

" We are pleased to be able to continue raising the dividend, enabling our investors to benefit from the operational leverage in our business model following a period of record deployments. Normalised monthly cash revenues are at record levels and, with a largely fixed operating cost base, this is driving both a material increase in our operating margin and historically low payout ratios. The deal pipeline remains robust, and I look forward to updating the market with news of further deployments in due course."

The ex-dividend date is 24 March 2022, the record date is 25 March 2022 and the payment date is 12 April 2022.

[mikkydhu] 02/3/2022 12:50

Piedro,

I agree that spreading risk is desirable. I suppose that when a partner acquires a new business, that is a form of risk-spreading, albeit within a partner.

"Adjustments" at 6% either way is very vague and not helpful, I agree.

[piedro] 02/3/2022 11:58

mikkydhu,
I would prefer to have new partnerships to spread the risk.

They do not tell us what the 'adjustments' are which would give
us an indication of how the companies are doing.

[mikkydhu] 02/3/2022 10:09

Each time they make a follow-on investment into an existing partner, I gain confidence in Duke. This is because it implies that they have examined that partner thoroughly, decided that it is a good business and decided to invest further.

[piedro] 26/2/2022 07:32

carcosa,

Thank you for the confirmation.
As suggested, I have written to DUKE.

[carcosa] 26/2/2022 05:41

Conversations by PrimaryBid: The rise of royalty financing. Duke is featured

[carcosa] 26/2/2022 04:15

Piedro,

Your list appears accurate and complete.

Either there is a mistake in the last RNS

or

A follow on investment of 0.5m was made but due to the small amount did not require an RNS.

I also note that they still have 13.5m (not 13m) listed here: hxxps://www.dukeroyalty.com/partners

I suggest you seek clarification from Duke.

[piedro] 25/2/2022 09:32

Can someone please correct me.

The RNS says total loans so far of £15.0m

From my notes I have only £14.5m as follows ...

06/10/2017 - 4.5m
13/11/2017 - 2.5m
26/04/2018 - 2.0m
28/09/2018 - 1.0m
01/11/2019 - 2.0m
16/03/2020 - 1.0m
25/02/2022 - 1.5m

[senttothegallows] 25/2/2022 09:21

Forecast yield over 7.4% very attractive at current levels IMHO

[egrid1] 14/2/2022 09:21

I see Duke has made yet another investment into what appears to be a startup investment holding company that invests in other companies.
I was concerned about the original investment in August last year, I sold out on the second investment in September, and wonder how much Duke is prepared to invest in this way, following the third.
I fear that there may be a couple of years of good returns (interest payments) on these loans, followed by problems. Meanwhile, Duke seems to be exposing itself to larger and larger investments.
Investing in Duke relies on trusting Duke managements own due diligence of the accounts of the company they themselves were investing in...
Now it relies on a third party company, InTecs own accounts, which has I would suspect, the greater chance of missing problems in individual companies within InTecs portfolio, and so early warning of bigger problems for InTec may be hidden.
This pattern of investment seems to go away from what I thought was the original intention of Duke, when I first invested, and does not give me the confidence to buy back in.

[kadvfn1] 01/2/2022 14:58

so what do we think the next upgrade of divi will go to? 0.75?

[cwa1] 01/2/2022 07:20

Trading Update:-



Neil Johnson, CEO of Duke Royalty, said:

"I am delighted to report that normalised cash revenue continued to grow to record levels in Q3 FY22. I expect this growth to continue into Q4 FY22 on the back of substantial new deployments made into both new and existing royalty partners.

"Duke's differentiated, long dated product offering is increasingly gaining traction in the marketplace. Our capital perfectly suits those companies wishing to minimise their refinancing risk and spend their time focussing on running, and expanding, their businesses."

[rogerrail] 10/1/2022 09:38

It is indeed 0.6p leading to prospective yeild of 6%.

[weaverbeever] 10/1/2022 08:15

Or I may be wrong. Investors chronicle says 0.6

[weaverbeever] 10/1/2022 08:14

6p per share dividend is paid on Wednesday

[piedro] 08/1/2022 08:51

CWA1,

from my records ...



HTH.

[piedro] 08/1/2022 08:45

... REPLACED to show all records

[cwa1] 07/1/2022 16:16

Joined your merry(or not so merry, as the case may be!) crew with a few at 40p and some shrapnel, good fortune all.

Seems to be loads of stock about as all the buys don't seem to be scaring the MMs higher.

I see Premier Miton issued a holding reduction RNS in December, does anyone know if they or anyone else is known to be reducing?

[senttothegallows] 06/1/2022 15:52

Getting close to a 6% dividend yield starting to look extremely good value

[btgman] 02/1/2022 15:54

Interesting to see comments around selling and views on Miriad I do question what you are looking at and basing your view on. I suspect Miriad products will have had an absolutely incredible year to 31.12.21 I wouldn't be surprised to see ebitda in excess of £8m. If that is the case Duke's 30% holding could potentially be worth £24m plus the £18m. Miriad float/takeover shouldnt be ruled out. Each to their own but Duke is significantly undervalued and I will be adding further this month. The value of their respective equity stakes and Royalty uplifts are currently not being taken in to account in the market cap.
AIMHO
GLA
BTG

[podgyted] 02/1/2022 15:24

Looking at this myself the investment has gone into Slake Bidco (described as "Loans" and secured by fixed and floating charges over the whole group) and until recently the 30% equity stake was in Slake Holdings Limited - is probably now in Slake Topco after the recent additional investment.

Dukes investment is being used as venture capital in transfers of ownership/ moping-up of acquisition debt.

Duke probably refers to "Miriad" as Miriad Products Limited is the only active trading company within the group - if you want to do your own research then you have to decide whether Miriad Products can support the Duke investment. However, if you're invested in Duke, surely the presumption is that Duke will have done thorough due-diligence. (Also they have a seat on the board of the ultimate holding companies)

Looking at Miriad Products, if it continues to progress as it has, my personal opinion is that it looks like a good investment - BWDIK.

Anyway, I'm looking forward to Simon Thompson coming back from holiday on 5th Jan to
see what he says about a constituent of his 2021 bargain shares portfolio. As far as I can see Duke have delivered faster than expected on his article of 16 Sept, but we'll see.

[joe say] 24/12/2021 11:11

Cheers SteMis - your post prompted me to delve as well (not just Slake) and I see what you mean

As a result I've taken my money off the table but wish holders good luck - time will tell if that was sensible or not