Juridica Share Discussion Threads

[orchestralis] 13/8/2013 08:36

good news 14p div gives me a yield of just over 10%. better than leaving it in the back.

[pyemckay] 13/8/2013 08:31

cant believe i got these at 92p in march. After using the advfn screener highlighting companies trading well under book value with a decent divi. this was the standout on fundamentals. Value getting harder to find now though.

[mikey62] 13/8/2013 07:46

This just gets better and better....quite a cash cow.
Jonwig....good call yesterday.

[lavalmy] 13/8/2013 07:45

Hi jonwig

13p 14p? Is this the beginning of a progressive and regular dividend policy? Not easy for them to manage, guven the type of business. But if they were to be able to invest on a regular basis, then I suppose why not? The continuation vote will more likely than not involve some sort restructuring. We can only wait and see.

One thing I don't like is the repeated lack of allocation of cost; everything always seems to be 'profit' and never a return of capital. Most unlikely and contrary to their accounting policies IMHO.

Regards

David

[m1das_touch] 13/8/2013 07:40

Yes, clearly this news leaked out to those 'in the know' and everyone else is left to buy in after the news is in the price - disappointing and frustrating, but it's the usual story for private investors!

Fortunately I topped up on these at 117p so have benefited from the recent rise and am already comfortable with the level of my exposure (6.3% of my SIPP in Juridica).

[jonwig] 13/8/2013 07:07

Here it is, then: another 4p dividend or so, from a USD12.5m return:



It's disappointing that the news leaked out a day early.

[oniabsta] 12/8/2013 12:38

Don't forget there may be a lot of buying as aim shares are now allowed into ISA's.

[orchestralis] 12/8/2013 11:32

Lord Brennan, Juridica's Chairman, said: "We are pleased that the portfolio continues to mature and deliver cash proceeds. The Board anticipates making dividend payments to shareholders over the next 12 months if the portfolio develops as expected; and will continue to pursue the Company's objectives of dividend income and NAV growth."

Note. Payments not payment. So could see interim, final and even a special. who knows.

[orchestralis] 12/8/2013 11:30

last years divi was 13p

[orchestralis] 12/8/2013 11:29

If others cases are settled, yes we could see an uplift in divi or a special divi.

[speedsgh] 12/8/2013 11:25

At current 134p offer, this is now yielding just 7.5% based on the already-announced 10p dividend to be paid at the start of 2014.

Thinking out loud, is the current share price purely down to yield compression driven by income-hungry investors or is there perhaps further news in the background driving this onto new all-time-highs? The rise is welcome all the same.

[jonwig] 12/8/2013 11:22

It's not known as a 'leaky' company, but it may be that there are further settlements to be announced. The 10p promised would appear to be from just a single case.

Whether the declared 10p will be increased, I can't say.

[orchestralis] 12/8/2013 10:17

Next leg up has started. 10p divi later in the year. good yield.

[m1das_touch] 16/7/2013 13:51

I agree that there's risk here, but not sure I would categorise this as 'very high risk.' I think management have proved themselves and clearly they only take on cases where they see a very high probability of a successful outcome.

What I love about this stock is that the risk has pretty much 0% correlation to other stocks and other asset classes. As a portfolio diversifier and for significant (albeit lumpy) dividend income, imo it's a great little company.

With dividends reinvested I'm sitting on an overall 25% gain (having bought my first tranche only last November). Happy to hold these in my SIPP for the long term.

As an aside, chart-wise, we appear to be in the process of breaking through to an all-time high, so as this gets picked up I expect it will draw in further buyers before the end of the year, i.e. before it goes ex-div.

[jonwig] 13/7/2013 09:50

110 ... I think they have 'lost' one case, or at least they've written its value down to zero. It's an unusual one, not their normal line of business, and you'll find some links to my digging earlier in this thread [post #20, say].

For a related company, maybe less volatile and 'safer', look at Burford Capital [BUR}.

[11023154] 13/7/2013 08:09

Thanks Jonwig, I have to say v interesting business, lots of positive, profits up, divs rising, seems slightly under the radar to me. Does anyone know a success ratio or percentage on cases they have? Couldn't find it on website...

[jonwig] 13/7/2013 07:59

110 ... they do only give one case resolution statement each year, if you look back. They are strongly constrained not to comment on progress in the cases they fund, hence the anonymous coding.

And yes, high risk. It would be silly to deny that. The enormous legal management fees are a comfort that they are doing a lot of due diligence before investing in a case. That might seem paradoxical, but it is so.

[11023154] 12/7/2013 22:46

cheap share for a reason imo

[11023154] 12/7/2013 22:45

very high risk company IMO, only one portfolio update so far this year...? 17m usd paid jan 2014, Half yearly reports will be interesting....

[djderry] 05/7/2013 13:14

You're not wrong,Midas Touch!

[wirralowl] 04/7/2013 13:38

thanks for the updates db. Very happy to hold these.

[m1das_touch] 04/7/2013 12:20

djderry - personally I'm happy that they've made a firm announcement now, as it provides some certainty and helps to support the share-price.

There's always the option for a special dividend should further cases be settled. In fact the statement confirms that "the board anticipates making dividend payments to shareholders over the next 12 months if the portfolio develops as expected"

I think this is a little gem of company - fat dividends plus potential share price upside to close the discount to NAV. What's not to like?!

[whilstev] 04/7/2013 12:06

Only recently got into this so very pleased to get an early return on my money and added confidence that it is a strong hold from here.

[djderry] 04/7/2013 11:29

All good.I hold these in my SIPP and private account.Of course it's nice to see cash coming in,it's what we're paying those expensive lawyers to do!Is it not a little early to announce the dividend,though,as they may win/settle a few more cases between now and the end of the year?