Share Name Share Symbol Market Type Share ISIN Share Description
Duke Royalty LSE:DUKE London Ordinary Share GG00BYZSSY63 ORDS NPV
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 42.00p 41.00p 43.00p 42.00p 42.00p 42.00p 0 08:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Financial 0.0 -1.4 -0.2 - 19.06

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DateSubject
11/12/2017
08:20
Duke Royalty Daily Update: Duke Royalty is listed in the General Financial sector of the London Stock Exchange with ticker DUKE. The last closing price for Duke Royalty was 42p.
Duke Royalty has a 4 week average price of 39.50p and a 12 week average price of 35.50p.
The 1 year high share price is 47.50p while the 1 year low share price is currently 35.50p.
There are currently 45,377,459 shares in issue and the average daily traded volume is 7,507 shares. The market capitalisation of Duke Royalty is £19,058,532.78.
05/12/2017
11:05
otherwys: Hi Specto, Yes I too have suffered from dilution and in general don't like it. However I think this is a different circumstance. Normally there's a single asset producing revenue, and when more shares get issued that revenue gets split between more shares, so every share has less. In this case, the extra funds will be used to add assets (new royalties) which will be earning revenue; and as the cost base for this type of business is low and pretty much fixed, the dilution is actually in how much of those fixed costs get attributed to each share, so the value per share increases. Simplistic example: £10m asset earning 10% revenue with costs of £0.5m, split between 10m shares: revenue = £1m, costs = £0.5m, profit attributable per share = £0.50. Add £10m shares at £1 each and invest in further assets earning 10%. Then you have £20m assets earning £2m with costs of £0.5m; profit attributable to each share = (£2m-£0.5m)/20m shares = £0.75. This is the beauty of Duke's model; this fundraising will allow an uplift in dividends, which then drives share price up, which then allows the next fundraising to be less dilutive, and so on. It's a virtuous circle. Look at Artemis (Canadian royalty company - share price history, dividend history, fundraising history - it's a proven model. Needless to say, I love it; but of course DYOR! GLA Otherwys
20/11/2017
13:23
otherwys: I agree they'll be looking for cash; but I'm expecting a dividend increase to be announced by end December first. The maiden divi was announced off the back of their first deal, which gave them £900k in income. They now have almost twice that, and their business model seems to be: raise funds do deals increase div watch share price rise raise more funds at higher share price etc At least that's what Artemis have done successfully in Canada, and Duke seem to be modelling themselves on them. Very happy to be invested here. GLA, and DYOR! Otherwys PS new to ADVFN but I use the same name on iii and LSE
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