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Duke Royalty Limited - Dividend Declaration

RNS Number : 1597Q
Duke Royalty Limited
17 June 2020
 

17 June 2020

 

Duke Royalty Limited

("Duke Royalty", "Duke" or the "Company")

Dividend Declaration

 

Duke Royalty Limited (AIM: DUKE), a provider of alternative capital solutions to a diversified range of profitable and long-established businesses in Europe and abroad, is pleased to announce the payment of 0.5p per share to shareholders by way of a scrip dividend, further to its announcement on 14 May 2020 in which the Company stated its intention to pay a scrip dividend for the upcoming June quarter.

 

As previously announced, in light of the effect of COVID-19, the Company deems it prudent to retain as much cash as possible in order to support its portfolio, whilst still offering shareholders returns through dividends via scrip.

 

Since implementing its dividend in 2017, Duke has paid out more than £12.7 million in cash dividends and intends to revert to the payment of cash dividends when a more normalised trading environment returns.

 

Shareholders will receive their dividends for the June quarter in the form of new ordinary shares in Duke Royalty and the entitlements will be rounded down to the nearest whole share.

Shareholders are paid based on the following formula:

(Number of ordinary shares held at the record date X 0.5p) ÷ (scrip dividend reference price)

There is no requirement for shareholders to make an election to receive the Scrip Dividend as there is no option to elect for a cash dividend. The scrip dividend reference price will be calculated as the average of the Company's closing middle market price, as derived from the London Stock Exchange's Daily Official List, calculated as the five-day mid-market price from 25 June to 1 July inclusive. A further announcement will be made on 2 July with details of the number of new ordinary shares to be issued.

A timetable for the key dates is set out below:

25 June 2020

Ex-dividend date

26 June 2020

Record date

2 July 2020

Scrip reference price announced

10 July2020

New ordinary shares admitted to trading on AIM
Scrip dividend pay date
CREST accounts credited
Despatch of Scrip certificates and statements

 

 

***ENDS***

 

For further information, please contact www.dukeroyalty.com, or contact:

 

Duke Royalty Limited

Neil Johnson / Charlie Cannon Brookes / Hugo Evans

 

+44 (0) 1481 741 240

Cenkos Securities plc 

(Nominated Adviser and Broker)

 

Stephen Keys / Callum Davidson / Julian Morse / Michael Johnson

 

+44 (0) 207 397 8900

Newgate Communications (PR)

Elisabeth Cowell/ Ian Silvera/ Megan Kovach

+ +44 (0) 20 3757 6880 [email protected]

 

 

About Duke Royalty

 

Duke Royalty Limited provides alternative capital solutions to a diversified range of profitable and long-established businesses in Europe and abroad. Duke Royalty's experienced team provide financing solutions to private companies that are in need of capital but whose owners wish to maintain equity control of their business. Duke Royalty's royalty investments are intended to provide robust, stable, long term returns to its shareholders. Duke Royalty is listed on the AIM market under the ticker DUKE and is headquartered in Guernsey.

 

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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Quick facts: Duke Royalty Ltd

Price: 27.75

Market: AIM
Market Cap: £68.44 m
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