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Burford hikes divi as operating profits rise

By BFN News | 07:34 AM | Wednesday 18 March, 2015


Burford Capital's operating profit rose to $60.7m in the year to the end of December - up from $42.5m in 2013 - and represented a 17% return on equity. A 34% dividend increase is proposed to 7.00�¢ per share (2013: 5.23�¢), composed of 1.74�¢ interim dividend paid in December 2014 and final dividend of 5.26�¢ to be paid in June. Burford's income for the year rose by 35% to $82.0m. Chief executive Christopher Bogart said: "We are very pleased with 2014's results. It was an excellent year for Burford with growth in revenue and profits across all areas of the Company. As Burford enters its sixth year, we have continued to generate strong investment returns and continue to see growing, evolving and diversifying demand for the litigation finance solutions we provide." Chairman Sir Peter Middleton added: "We are pleased to report another successful year of significant growth and progress for Burford. As a result, the Board recommends a 34% increase in the dividend. We are proud to have assembled what is clearly the leading and most experienced team in the litigation finance industry and we look forward to our future progress in this rapidly evolving sector. " Story provided by StockMarketWire.com

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