REG - Duke Royalty Limited - Dividend Declaration

Duke CapitalAnnouncement

17/06/2020 07:05

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 dukeroyalty@newgatecomms.com
 



 
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.
 
 


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