Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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I bought some at the last placing and glad I did. I think Duke will prove to be a great long term source of income and as the dividend increases each year the share price will ultimately follow.
Think you could have hit the nail on the head will not be surprised if we see a placing in the not so distant future Robbo . My other holding UKW and THRL both had share placing recently but I normally just buy on the dips down after announcement to lower my average price .Think DUKE has a lot of potential in the next year or so .
Does anyone worry that with the reported strong pipeline of potential royalty partners yet now approx only £30M in available funds most of which would be drawn down from the banking facility that we could see another fund raising at around 10% discount to share price
surely we should be over 50p now. Guess we'll get there when DUKE increase divi maybe
ST on hols till January, and he will have a lot to catch up on.
Expect him to follow up on this by end Jan, tho.
And just in time for the next dividend declaration!
Share your view on 50p, maybe more once Simon Thompson writes up his next report on the company which I am sure will be extremely bullish based on news this month.
My 'back of the fag packet' calculation is that free cash flow will improve by over £1.4m which improves earnings by around 15%. Liquidity down to £36m of which around £10m is in cash.
Should improve fair value to 50p.
Fossiebeer.
2020 div announced 9th Dec
2019 " " 16th Dec
2018 " " 04th Dec
2017 " " 19th Dec
Anyone know when they announce this quarter's dividend? The interim statement only mentions what has been paid in the past.
Duke, it is a good business still below the radar. I am pleased.
Cracking result. Definitely worth the boring money @metis. Now lets see how much the divi will increase by for next payment. With all the free cash left for deployment sp could move a bit further still I think.
No surprises; this is where some of my boring money sits quietly, collecting a decent dividend yield. A lot of cash waiting on the balance sheet waiting to invest, so expect a small up tick in earnings in due course provided they choose targets as well as they have done in the past. Seems fully priced though.
https://www.londonstockexchange.com/news-article/DUKE/interim-results/15235690
Neil Johnson, CEO of Duke Royalty, said:
"This has been a very successful half year, characterised by substantial cashflow growth and accelerating investment deployment. Cash revenue is up 78% from the prior period to £7.8 million, and we have delivered a 58% increase in free cashflow to £4.6 million. This positive performance has been driven mainly by our team's rapid execution of new royalty agreements which has seen us invest over £23 million into three new royalty partners during the period.
"This strong trading performance makes me confident that Duke will exceed the market's expectations for the 12 months ended 31 March 2022. Since the resumption of its cash dividend, Duke has increased its dividend payment from 0.50 pence per share to 0.55 pence per share, with the prospect of higher dividend payments for shareholders in the future. This growth will be supported by entering into new royalty agreements and I am pleased to report that our pipeline is the strongest in our history. We expect to announce a range of new deployments in the coming weeks and months."
General market drop because of new Covid strain in southern Africa, is my guess. Main markets all down about 3% at time of posting.
Lots of small trades today for 7 or 2 shares, MM signals?
Having watched the presentation again I see the directors say the dividend will be 85/90 % of the free cash flow. Also pleased to hear how the caravan spare parts business has really boomed & that they have a 24% equity stake in that business. I think the results next month & in just over six months time will be amazing.
Looking forward to December 1st interims. Existing royalties should perform very well compared to 2020. They have made £31 million of new or follow on investments since July 1st on top of the £100 million of existing ones. They also announced in mid September thy would be making £60 million of new investments. It was strongly recommended in Money Week magazine on 29th October. Amazing to see it has only 25 employees, so I think all these new royalty agreements flow almost straight through to the bottom line. The directors did state in an interview I watched that they hoped to pay I think it was 65% of earnings by way of dividend. I am very hopeful that in 2021/22 the dividend will increase substantially & have like Investor Meet topped up my holding this summer. Only trouble will be the 1.25% increase to 8.75% in the wretched dividend tax
75%
The ex-dividend date is 23 September 2021
https://www.lse.co.uk/rns/DUKE/interim-dividend-and-dividend-declaration-qi19qjm6q9yyfgx.html
The next dividend should be announced in December.
Does anyone know the exdividend date?
...just have to hope they don't dilute with another discount share placing as has happened several times before.
The presentation from last Friday is on YouTube - worth a watch / listen
https://www.youtube.com/watch?v=5bEiuJlFxcQ
Article also mention potential increase divi as well. So looking good
Tipped by SimonThompson in IC. Target price 55p. Expect some buying over next few trading days
and, of course, it is having to pay dividends to the new investors despite sitting on that cash.
I suppose maybe they have already identify further partners as they elude to in the RNS and we'll see more cash deployment soon