Burford Capital Limited (BUR) to Issue Semi-annual Dividend of $0.06 on December 4th

Burford Capital Limited (NYSE:BUR) announced a semi-annual dividend on Monday, September 29th. Investors of record on Friday, October 31st will be given a dividend of 0.0625 per share on Thursday, December 4th. This represents a dividend yield of 103.0%. The ex-dividend date is Friday, October 31st.

Burford Capital has a payout ratio of 13.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Burford Capital to earn $1.71 per share next year, which means the company should continue to be able to cover its $0.25 annual dividend with an expected future payout ratio of 14.6%.

Burford Capital Stock Performance

NYSE:BUR opened at $11.96 on Wednesday. The company has a current ratio of 10.09, a quick ratio of 10.09 and a debt-to-equity ratio of 0.55. Burford Capital has a 12-month low of $10.70 and a 12-month high of $15.73. The stock has a 50-day moving average price of $13.17 and a 200 day moving average price of $13.25. The stock has a market capitalization of $2.62 billion, a P/E ratio of 11.07 and a beta of 0.66.

Burford Capital (NYSE:BUR) last released its earnings results on Thursday, August 7th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.06. Burford Capital had a return on equity of 7.48% and a net margin of 37.08%.The firm had revenue of $191.29 million during the quarter, compared to analysts’ expectations of $159.02 million. Equities research analysts forecast that Burford Capital will post 1.28 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CIO Jonathan Todd Molot sold 210,000 shares of the company’s stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $14.60, for a total transaction of $3,066,000.00. Following the transaction, the executive directly owned 3,406,625 shares of the company’s stock, valued at $49,736,725. This represents a 5.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Christopher P. Bogart sold 210,000 shares of the company’s stock in a transaction dated Wednesday, July 9th. The shares were sold at an average price of $14.60, for a total value of $3,066,000.00. Following the transaction, the chief executive officer directly owned 278,862 shares in the company, valued at $4,071,385.20. This represents a 42.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 444,500 shares of company stock valued at $6,489,700. 8.90% of the stock is currently owned by insiders.

Institutional Trading of Burford Capital

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Greenlea Lane Capital Management LLC lifted its position in shares of Burford Capital by 325.4% in the second quarter. Greenlea Lane Capital Management LLC now owns 3,362,322 shares of the company’s stock valued at $45,724,000 after acquiring an additional 2,571,917 shares in the last quarter. Contrarian Capital Management L.L.C. purchased a new position in shares of Burford Capital in the first quarter valued at approximately $32,586,000. Aberdeen Group plc purchased a new position in shares of Burford Capital in the second quarter valued at approximately $29,208,000. Cooke & Bieler LP purchased a new position in shares of Burford Capital in the first quarter valued at approximately $24,761,000. Finally, Bank of Montreal Can lifted its position in shares of Burford Capital by 58.1% in the second quarter. Bank of Montreal Can now owns 4,976,941 shares of the company’s stock valued at $71,594,000 after acquiring an additional 1,829,585 shares in the last quarter.

Burford Capital Company Profile

Burford Capital Limited provides legal finance products and services worldwide. The company operates through two segments, Capital Provision, and Asset Management and Other Provision. The Capital Provision segment provides capital to the legal industry or in connection with legal matters directly and through investment in private funds; legal risk management services; lower risk legal finance business focusing on pre-settlement litigation matters with lower risk and lower expected returns; post-settlement finance; and complex strategies in which it acts as a principal and acquires assets that are mispriced.