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Yes
Has anyone received their dividend payment?
Duke interim results out on Wednesday 09 Dec 2020; then a presentation the following day.
Most of the ratios are in the minus, are we still operating at a loss or are we expecting positive end year results March 2021?
Thanks for the heads up
"Hugo Evans, Finance Director, will deliver a live presentation via the Investor Meet Company platform on 10 December 2020 at 2:00 pm."
I have used this platform for a couple of other shares - recommended.
Not surprised you sold out RN, the dust is still settling in and a transition from covid times to non covid times with an interim in between - hard to guess how things will pan out with investee companies. Overall though I am positive in the long run, short and medium term..mmm....I have some reservations.
Scoobydoo,
Yes, Simon Thompson may be right I am not sure Investor's Champion position is correct.
I was a direct holder of Duke, but reduced my exposure to them on Investor's Champion article.
I remain an indirect holder of Duke as I hold Downing Strategic Micro I.T. which has a holding in Duke.
RN
Thank you Nomlungu.
Hi RedNinja
Simon Thompson stated today -
Duke has taken 30 per cent equity stakes in three partners in lieu of foregone cash revenue: independent glass merchant United Glass Group; coatings and paint company Trimite; and private education company Step. All have now resumed making cash royalty payments. Also, the equity stakes are held at nil value in the accounts, thus offering valuation upside to Duke’s last reported NAV of £74m (29.3p a share).
Therefore, DUKE has already accounted for the write down of these royalty partners.
Of course, as stated earlier, once past covid19, and these partners get back on their feet, management will "revalue" these equity stakes accordingly.
It as not been announced yet; the RNS stated:
"The Board will provide further updates in relation to its dividend in December, in line with the usual schedule."
Last year's December dividend notification stated:
"...with the ex-dividend date being 24 December 2019, the record date being 27 December 2019 and a payment date of 14 January 2020."
https://www.lse.co.uk/rns/DUKE/trading-update-and-reinstatement-of-cash-dividend-l02e77jv6ym4725.html
https://www.lse.co.uk/rns/DUKE/dividend-declaration-ewb8ac639iv9s5n.html
Is the next dividend date 24/12/20?
Investor's Champion gave DUKE bad press, they think several royalty partners are weak and are in need of finance.
Whilst I don't think Investor's Champion are idiots, are they really accurate in giving Duke a verbal drubbing.
However, several equity houses like Downing seem strong backers. Who is right ?
adv
Yes, Fat Fimgers.....28p.
this will remain below 30p but I'm happy to keep buying more on the dips. It's a good business model with geographical spread. I don't mind scrip divis. Great for income seekers.
Putting it into perspective, 0.5p now currently offers (assuming 2p p.a. and no more nasty scrip divies) = div yield of 7.8%. So whilst waiting for econ recovery + CG, can earn divies on the side. Not bad at all.
Per https://www.investorschronicle.co.uk/comment/2020/09/21/companies-on-the-rebound/
which funnily enough is freely available (usually behind paywall)
Simon Thompson says - " ...head of finance Hugo Evans says he was “brutal” in the fair value assessment of the portfolio."
and
"scope for further upside driven by portfolio revaluations as Covid-19 induced write-downs are reversed".
Thus, as economy improves, the assets will need to be "revalued" to reflect the change in economic activity. Therefore, I expect as gradual increase in NAV + SP
Many thanks adv11 this is a very interesting company, I don't know much about royalty but it's market cap and net assets looked good.
They are going back to cash dividends, but it's not fully reinstated because it was .75p, and we are now on .5p. They have only commented on the dividend to be announced next month.
I can't see the share price getting to 50p in the near future. Our NAV was only 30.9p for the year ending 31st.March and must have gone down a fair bit since.
But hats off to Genghis15 for exiting at 258p. I can only dream of being such a great investor.
Happy to hold, maybe add a few when I can afford it, but there is a long way to go for those of us who stuck with the company through Covid.
Has the dividend been fully reinstated or will it just be for this quarter?
though interestingly they now seem to own 3 x river boats in Europe they are hoping to rent out when demand returns........anyone fancy a holiday!
As a side biz, Duke can always organise river cruises on the Rhine pumping Pearl and Dean advertising music - baa baa baa baa baa. Zits wunderbar ya!!!
This share was 50p in January, and by Jan 2022 it will be 50p again, imv. I exited at 258p some time ago but will be back in soon. Great update, much better than it might have been.
Anyone have contrary views?
A lot of people had a pessimistic view of LLOY + other major UK banks; VTY, BDEV, RR, EZJ etc - the doom and gloom etc.
However, what people do not account for - is the current SP. Look at what's happened to their SP in the past 10 days. Therefore, I'd say one key point is entry price. Today's price, DUKE still presents an excellent opp to get your head in early for a juicy div + a lot of upside.
As far as the NAV is concerned of 30p-ish, as far as I am aware was determined by management who according to Simon Thompson (I believe), Investors' Chronicle, were brutally prudent. Of course, hopefully, with are on the advent of a new economic cycle. Thus, the NAV will naturally improve as the economic situation improves.
Interesting to see quite a some people taking profit. Whilst that is understandable in a bear market, it's rather stange at this present situation where I believe, we are on the cusp of a bull run provided the news of the Pfizer vaccine holds up. If Pfizer does not hold up, Plan B is all the other potential vaccines in the race.
though interestingly they now seem to own 3 x river boats in Europe they are hoping to rent out when demand returns........anyone fancy a holiday!
I can only agree - the resumption of dividends is extremely positive. At 2p a year it is a solid 7% with growth prospects. It is not a sexy Covid or Oil / Gold share but I prefer boring and steady shares for my SIPP.