Trading in the royalty partner portfolio over Q1/21 shows a material rebound from May, which has been sustained to date, as the portfolio as a whole returns to more normalised trading. Consequently, Duke's cash receipts, while down 20% YoY currently, are set to step up in H2/21 as forbearance measures largely expire and deferred royalties realised. This bodes well for a rebound in earnings and a return to cash paid dividends. A share price down over 55% since Feb 20, standing at p/book of 0.56x ....

06 Aug 2020
Cenkos: Duke Royalty Ltd -- Restoring the royalties

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Cenkos: Duke Royalty Ltd -- Restoring the royalties
Duke Capital Limited (DUKE:LON) | 29.0 0.1 0.9% | Mkt Cap: 123.1m
- Published:
06 Aug 2020 -
Author:
Cavendish Research -
Pages:
7 -
Trading in the royalty partner portfolio over Q1/21 shows a material rebound from May, which has been sustained to date, as the portfolio as a whole returns to more normalised trading. Consequently, Duke's cash receipts, while down 20% YoY currently, are set to step up in H2/21 as forbearance measures largely expire and deferred royalties realised. This bodes well for a rebound in earnings and a return to cash paid dividends. A share price down over 55% since Feb 20, standing at p/book of 0.56x ....