Burford Capital
Website:
Burford Capital
Index:
AIM
EPIC: BUR
Supersector:
Financial Services
Sector:
Financial Services
Subsector:
Specialty Finance
Market Cap:
£696.89M
Payout Frequency: Semi-Annual
Burford Capital Dividend Analysis and Summary
Key Dividend Details
- Type: Final dividend (FY25)
- Amount: $0.0625 per ordinary share
- Currency: USD
- Ex-dividend date: 21/05/2026 (derived from record date)
- Record date: 22/05/2026
- Payment date: 12/06/2026
- Condition: Subject to shareholder approval at the 2026 AGM
- Yield: Not stated in the RNS (depends on share price at/around ex-date)
Context from the Results
- Management highlights a strong year for new business: new definitive commitments up 39%.
- Portfolio modeled realizations increased by $700m to $5.2bn at year-end.
- Reported results were impacted by extended case durations and other unrealized fair value adjustments, despite substantial cash inflows.
Analysis: Sustainability and Growth
- Sustainability: The dividend is modest in absolute terms, consistent with Burford’s historically conservative payout approach given inherently lumpy cash flows in litigation finance. The company cites “substantial” cash generation in 2025, which supports the small final dividend, but timing variability in case realizations remains a key constraint.
- Growth trajectory: No explicit guidance on a progressive dividend policy. Given the emphasis on portfolio growth (39% increase in commitments) and reinvestment, dividend growth is likely to remain cautious and secondary to capital deployment opportunities.
- Coverage/support: While detailed earnings and cash metrics aren’t provided here, the combination of increased modeled realizations and cash inflows suggests coverage for a small payout. However, extended case durations and fair value volatility could affect near-term distributable profits and cash timing.
Structural or Policy Factors
- No structural changes (e.g., M&A, demerger, share consolidation) announced that would directly affect dividend policy.
- Dividend remains subject to shareholder approval at the 2026 AGM.
- USD-denominated dividend; non-USD investors face FX translation effects on income.
Risks/Flags to Dividend Stability
- Cash flow lumpiness: Litigation outcomes and timing are unpredictable; extended case durations were specifically noted as impacting results.
- Fair value volatility: Unrealized adjustments can swing reported earnings, influencing board confidence in distributions.
- Capital allocation priority: Strong pipeline growth may lead management to prioritize reinvestment over dividend increases.
- AGM approval risk: While typically procedural, the payout is contingent on shareholder approval.
Read more
Burford Capital Annual Dividend Yield - 2.88%
Dividends Used in Calculation:
| Ex-Dividend Date |
Payment Date |
Type |
Amount |
Currency |
| 22/05/2025 |
13/06/2025 |
Final |
6.25¢ |
USX |
| 30/10/2025 |
04/12/2025 |
Interim |
6.25¢ |
USX |
Total (Annual Dividends Per Share):
9.38p
(Using exchange rate on 11/06/2026
$ = £0.75030)
Dividend Yield =
Annual Dividends Per Share (9.38p)
÷ Share Price (326p)
= 2.88%
Burford Capital Dividend History
| Ex Dividend Date |
Payment Date |
Type |
Amount |
Currency |
| 21/05/2026 |
12/06/2026 |
Final |
6.25¢ |
USX |
| 30/10/2025 |
04/12/2025 |
Interim |
6.25¢ |
USX |
| 22/05/2025 |
13/06/2025 |
Final |
6.25¢ |
USX |
| 31/10/2024 |
05/12/2024 |
Interim |
6.25¢ |
USX |
| 23/05/2024 |
14/06/2024 |
Final |
6.25¢ |
USX |
| 09/11/2023 |
07/12/2023 |
Interim |
6.25¢ |
USX |
| 25/05/2023 |
16/06/2023 |
2nd Interim |
6.25¢ |
USX |
| 03/11/2022 |
01/12/2022 |
Interim |
6.25¢ |
USX |
| 26/05/2022 |
17/06/2022 |
Final |
6.25¢ |
USX |
| 11/11/2021 |
02/12/2021 |
Interim |
6.25¢ |
USX |
| 27/05/2021 |
18/06/2021 |
Final |
12.50¢ |
USX |
| 14/11/2019 |
05/12/2019 |
Interim |
4.17¢ |
USX |
| 23/05/2019 |
14/06/2019 |
Final |
8.83¢ |
USX |
| 08/11/2018 |
05/12/2018 |
Interim |
3.67¢ |
USX |
| 31/05/2018 |
22/06/2018 |
Final |
7.95¢ |
USX |
| 19/10/2017 |
15/11/2017 |
Interim |
3.05¢ |
USX |
| 25/05/2017 |
16/06/2017 |
Final |
6.48¢ |
USX |
| 06/10/2016 |
28/10/2016 |
Interim |
2.67¢ |
USX |
| 26/05/2016 |
17/06/2016 |
Final |
5.67¢ |
USX |
| 01/10/2015 |
23/10/2015 |
Interim |
2.33¢ |
USX |
| 14/05/2015 |
05/06/2015 |
Final |
5.26¢ |
USX |
| 13/11/2014 |
10/12/2014 |
Interim |
1.74¢ |
USX |
| 21/05/2014 |
16/06/2014 |
Final |
5.23¢ |
USX |
| Year |
Interim |
Final |
Currency |
Total |
Change |
| 2024 |
6.250 |
6.250 |
USX |
12.500 |
0.000 |
| 2023 |
6.250 |
|
USX |
12.500 |
0.000 |
| 2022 |
6.250 |
6.250 |
USX |
12.500 |
-33.330 |
| 2021 |
6.250 |
12.500 |
USX |
18.750 |
44.230 |
| 2019 |
4.170 |
8.830 |
USX |
13.000 |
11.870 |
| 2018 |
3.670 |
7.950 |
USX |
11.620 |
21.930 |
| 2017 |
3.050 |
6.480 |
USX |
9.530 |
14.260 |
| 2016 |
2.670 |
5.670 |
USX |
8.340 |
9.880 |
| 2015 |
2.330 |
5.260 |
USX |
7.590 |
8.890 |
| 2014 |
1.740 |
5.230 |
USX |
6.970 |
|
Burford Capital Dividend Calculator
Burford Capital Dividend Growth
| Dividend Growth (1Y) |
-0.32%
|
| Dividend CAGR (5Y) |
1.37%
|
| Years of Growth |
–
|
| Payout Ratio |
–
|
| Buyback Yield |
2.34%
|
| Shareholder Yield |
5.23%
|
| P/E Ratio (TTM) | – |
|---|
| Forward P/E | – |
|---|
| P/FCF | – |
|---|
| Earnings Yield | -173.92% |
|---|
| FCF Yield | -34.9% |
|---|
| ROE | -68.37% |
|---|
| ROCE | -34.61% |
|---|
| Profit Margin | – |
|---|
| Operating Margin | 99.31% |
|---|
| Gross Margin | – |
|---|