Juridica Share Discussion Threads

[davebowler] 26/5/2016 15:43

O.K. thanks speedsgh

[speedsgh] 26/5/2016 12:24

dave/Ben - "payable on 24 June 2016 to shareholders on the Register at 27 May 2016".

The Record Date is 27/5 which means that XD date is today (26/5), hence the fall today.

[ben value] 26/5/2016 12:21

Does anyone know why the share price has dropped today?

[davebowler] 26/5/2016 12:20

Has it gone xd today?Judging by the announcement below, its tomorrow!?


Juridica, a leading provider of strategic capital for corporate legal claims to both businesses and the legal markets, is pleased to announce that the Board has approved a dividend of 8 pence per share (or approximately US$12,708,561 in aggregate), payable on 24 June 2016 to shareholders on the Register at 27 May 2016.

[speedsgh] 24/5/2016 14:48

Plenty of buys going through yet the price isn't budging which might suggest there is someone using the opportunity to offload a stake into the current strength?

[cockerhoop] 24/5/2016 14:25

It should be noted that 1 of the recent cases was a partial settlement and is ongoing so the remaining case NAV may not be written down by the full $55m suggested.

[guernseymoney] 24/5/2016 14:24

Brilliant, thanks paleje and/or Simon T.

[paleje] 24/5/2016 14:07

ST had these in his column today, his conclusion:-

To put this sum into perspective, the two cases accounted for $55m of the $126m net asset value of the company at the end of 2015. In other words, the company's cash and receivables are set to treble to 62.5p a share (before accounting for tax and other reserves), meaning that the current share price is fully backed by cash. And, given the board intends to distribute funds back to shareholders, expect another hefty interim dividend to be declared in the forthcoming half-year results.

Furthermore, all of Juridica's other 13 legal cases, which have a combined book value of 17p a share, are now in effect in the price for free. That's anomalous given that Juridica has so far generated cash proceeds of $222m (£156m) from two-thirds of the 30 investments made since its formation, of which half have been concluded, representing a return of 30 per cent-plus on its invested capital. Admittedly, there is no guarantee that the remaining cases will reap similar healthy returns, but equally it seems harsh to attribute zero possibility of a successful outcome on any of them as implied by the current valuation.

So although Juridica's shares are now up 42 per cent since I included them in this year's portfolio, given the substantial cash backing and deep discount to book value they still rate a decent buy.

[guernseymoney] 19/5/2016 20:42

Fair point about JIL being in run-off, which I agree with, but the dividends certainly de-risk it for me after a bumpy 12 months holding JIL.

GLTA.

[djderry] 19/5/2016 20:26

Of course I'm glad to get some cash back,it's worth several thousand pounds to me,but,really,I see it as more of a capital return.There will be no more new cases,we are in run-off here.From a tax perspective,although I'm no expert,the shares in my pension account are fine but,as regards those outside pension wrappers,the company should look at how they return value to shareholders.

[neilyb675] 19/5/2016 18:05

my reading is that the next interim dividend will be circa 20p region....

These guys don't mess about with distribution after winnings, very nice investment this one.

[cockerhoop] 19/5/2016 16:29

He's currently on holiday, so it won't be until after 25th May.

I don't see any reason though why the next dividend shouldn't be a substantial payout, perhaps (20-30p)

[speedsgh] 19/5/2016 16:20

Today's news will no doubt prompt an update from Simon Thompson (Investors Chronicle) in due course.

[guernseymoney] 19/5/2016 16:04

Very pleased - nice to wake up to just over £1k in dividends

8p/share = $12.8m [of the $27.3m reported on JIL's balance sheet a/a 31 Dec 15]

Does that mean if JIL receives the +/-$55m this year from the settlements per 11 April 2016 release, we could be looking at 20p and above for the next dividend?

Thoughts?

[neilyb675] 19/5/2016 08:34

that's a whopper !!!

[philjeans] 19/5/2016 07:26

Brilliant!

[nw99] 19/5/2016 07:16

8p div plus more to come from the payout nice

[nw99] 05/5/2016 07:06

Results soon

[speedsgh] 22/4/2016 12:49

Peel Hunt have upgraded Juridica to BUY. TP increased from 60p to 71p.

[neilyb675] 14/4/2016 16:18

Price will rise in anticipation - the market will know "how much" before its in black and white ...

[orchestralis] 14/4/2016 07:54

Which will be counteracted by a dropping share price.

[philjeans] 14/4/2016 07:05

Huge divi here later this year.

[nw99] 13/4/2016 18:43

Thanks much appreciated more to come then

[cockerhoop] 13/4/2016 13:42

Simon Thompson last para:

'Juridica’s shares rose sharply on the news, but at 53.5p are in effect still trading 15 per cent below proforma cash after receipt of the two settlements, and a hefty 33 per cent below historic book value even though the aforementioned case settlements could boost end 2015 net asset value. That’s anomalous and I continue to rate the shares a decent buy.'