The information disclosed in this section and elsewhere within the website is in accordance with Rule 26 of AIM Rules for Companies.

Duke Royalty Limited is a company limited by shares, incorporated in Guernsey under the Companies (Guernsey) Law, 2008.

Duke Royalty’s main country of operations is the United Kingdom.

Duke Royalty is subject to the City Code on Takeovers and Mergers.

Dividends
Dividend (pence per share)
Record Date Payment Date Quarterly Dividend
1 July 2022 12 July 2022 0.70p/share
25 March 2022 12 April 2022 0.70p/share
24 December 2021 12 January 2022 0.60p/share
24 September 2021 12 October 2021 0.55p/share
25 June 2021 12 July 2021 0.55p/share
26 March 2021 12 April 2021 0.55p/share
29 December 2020 12 January 2021 0.50p/share
25 September 2020 12 October 2020 0.50p/share (scrip dividend)
26 June 2020 10 July 2020 0.50p/share (scrip dividend)
27 March 2020 14 April 2020 0.75p/share
27 December 2019 14 January 2020 0.75p/share
27 September 2019 18 October 2019 0.75p/share
28 June 2019 12 July 2019 0.70p/share
5 April 2019 17 April 2019 0.70p/share
28 December 2018 11 January 2019 0.70p/share
28 September 2018 12 October 2018 0.70p/share
29 June 2018 12 July 2018 0.70p/share
3 April 2018 12 April 2018 0.60p/share
29 December 2017 12 January 2018 0.50p/share
29 September 2017 19 October 2017 0.50p/share
30 June 2017 27 July 2017 0.50p/share
Financial Calendar
31 March Year end
September Full Year results
30 September Half Year
December Interim results
Results, Reports & Presentations

20/04/22 – Investor Presentation – April 2022

27/04/22 – Business Development Presentation – April 2022

12/05/2022 Circular and EGM Notice – May 2022

01/04/21 – Circular and EGM notice – April 2021

15/11/21 – Investor Presentation – November 2021

16/09/21 – Financial Results Presentation – September 2021

20/09/21 – 2021 Annual Report

20/09/2021 – Notice of 2021 AGM

22/10/21 – Result of AGM 2021 – October 2021

07/12/21 – Interim Results Presentation

03/12/21 – Interim Report FY22

09/12/20 – Interim Report FY21

09/12/20 – Interim Results Presentation

17/09/20 – 2020 Annual Report

17/09/20 – Financial Results Presentation – September 2020

29/09/20 – Notice of 2020 AGM

18/09/19 – 2019 Annual Report – September 2019

18/09/19 – Notice of 2019 AGM – September 2019

08/10/19 – Circular and EGM notice – October 2019

16/10/19 – Result of AGM 2019 – October 2019

06/12/19 – 2019 Interim Report – December 2019

31/10/19 – Result of EGM – October 2019

04/12/18 – Interim Report

02/11/18 – Result of AGM 2018

24/09/18 – Annual Report and Audited Consolidated Financial Statements

16/07/18 – Circular and EGM notice

05/12/17 – Circular and EGM notice

14/11/17 – Interim Report and Unaudited Financial Statements

02/10/17 – Amended and Restated Articles of Incorporation

22/06/17 – Annual Report and Audited Consolidated Financial Statements

20/03/17 – Admission document March 2017

17/11/16 – Interim Report and Unaudited Financial Statements

24/08/16 – Annual General Meeting Proxy Form

25/07/16 – Annual Report and Audited Consolidated Financial Statements

23/11/15 – Interim Report and Unaudited Financial Statements

27/07/15 – Annual Report and Audited Consolidated Financial Statements

28/05/15 – Circular and EGM Notice

30/12/14 – Interim Report and Unaudited Condensed Consolidated Financial Statements

27/06/14 – Annual Report and Audited Consolidated Financial Statements

12/12/13 – Financial Report for the period 1 April 2013 to 30 September 2013 (Unaudited)

25/07/13 – Annual Report and Audited Consolidated Financial Statements 31 March 2013

25/07/13 – AGM Notice 2013

25/07/13 – AGM Proxy 2013

18/01/13 – Praetorian Summary January 2013

21/12/12 – Financial Report for the Period 22 February 2012 to 30 September 2012 (Unaudited)

08/10/12 – Shareholder Notification and Disclosure Requirements

04/07/12 – Admission Document

02/07/12 – Articles of Association

Analyst Coverage
Company Analyst Email
Cenkos Andrew Renton arenton@cenkos.com
Canaccord Genuity Portia Patel ppatel@cgf.com
Edison Research Pedro Fonseca financials@edisongroup.com
Shore Capital Markets Gary Greenwood Gary.Greenwood@shorecap.co.uk
Our Shareholders
Rights of Shareholders

Shareholder rights may be different to rights of shareholders in a UK incorporated company

Share capital in issue: 416,151,346 Ordinary Shares of no par value

There are no shares held in treasury.

Percentage of AIM Securities not in public hands: 5.47%

There are no restrictions on any of the Company’s AIM securities

Shareholders with an interest greater than 3% are as follows:

Hargreaves Lansdown, stockbrokers 41,398,582 9.95%
M&G Investments 37,704,230 9.07%
Interactive Investor 29,087,851 6.99%
BMO Global Asset Management (UK) 26,780,384 6.44%
Allianz Global Investors 23,325,000 5.61%
GLG Partners 23,133,685 5.56%
Canaccord Genuity Wealth Management 23,055,000 5.54%
Gresham House Asset Management 20,570,221 4.95%
AXA Framlington Investment Managers 17,756,714 4.27%
Premier Miton Investors 16,365,685 3.93%
Chelverton Asset Management 14,995,000 3.61%

 

The information above was last updated on 31 May 2022.

Constitutional Documents

Please click here for the Company’s Articles of Incorporation.

Investment Case

Income with value upside: Royalty businesses have been listed in North America since the 1980s and have been proven over market cycles to provide both income and capital gains to public shareholders due to the long-term predictable cash flows they deliver.

Resilient business model: The pandemic proved Duke’s resiliency. Duke Royalty has continued to deliver robust cash revenues and protection against downside for both investors and royalty partners despite the extraordinary conditions posed by the virus. In North America where royalty finance represents a £50 billion sector, royalty businesses have been proven to withstand economic cycles.

Diversified portfolio: Duke’s portfolio consists of an array of companies operating across a range of sectors. In addition, a significant number of its portfolio companies have acquisition opportunities which may result in follow-on financing from Duke, thereby mitigating the challenges faced by other SMEs.

Rising demand: Royalty finance has many attractive qualities in comparison to other funding solutions given its long-term, supportive and revenue-linked nature. Banks unwillingness to lend to SMEs has been increasing ever since the GFC and the pandemic has prompted many mature, profitable businesses to take on unsustainable levels of debt. Demand for more flexible, alternative sources of capital has been very strong in recent years and as a first mover and leader in the UK and European corporate royalty space, Duke has a significant opportunity to build and further diversify its portfolio.

Access to capital: Duke’s debt facility with highly reputable UK-based lender Pollen Street Capital enables it to complete multiple investments before having to raise additional equity in the public markets, while enabling current investors to achieve greater returns.

Experienced management: Duke’s management team and investment committee has more than 75 years of direct royalty investing experience and includes deal originators with deep local relationships as well as pioneers in the global royalty industry.

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