Burford Capital (BUR) Stock Price Up 9.6% Following Dividend Announcement

Burford Capital Limited (LON:BUR) rose 9.6% during mid-day trading on Wednesday after the company announced a dividend. The company traded as high as GBX 2,045 ($26.72) and last traded at GBX 1,992 ($26.03). Approximately 822,872 shares traded hands during trading, an increase of 39% from the average daily volume of 590,227 shares. The stock had previously closed at GBX 1,818 ($23.76).

The newly announced dividend which will be paid on Friday, June 14th. Stockholders of record on Thursday, May 23rd will be given a dividend of $0.09 per share. This is a boost from Burford Capital’s previous dividend of $0.04. The ex-dividend date is Thursday, May 23rd. This represents a dividend yield of 0.36%. Burford Capital’s dividend payout ratio (DPR) is presently 0.07%.

BUR has been the topic of several research analyst reports. Liberum Capital reaffirmed a “buy” rating and set a GBX 2,300 ($30.05) price target on shares of Burford Capital in a research report on Friday, January 25th. Canaccord Genuity reissued a “sell” rating and issued a GBX 1,543 ($20.16) target price on shares of Burford Capital in a report on Tuesday, February 19th. Berenberg Bank reissued a “buy” rating and issued a GBX 2,070 ($27.05) target price on shares of Burford Capital in a report on Wednesday. Finally, Numis Securities reissued a “buy” rating and issued a GBX 2,300 ($30.05) target price on shares of Burford Capital in a report on Wednesday. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of GBX 2,026 ($26.47).

The company has a debt-to-equity ratio of 68.55, a quick ratio of 6.55 and a current ratio of 6.58. The firm has a market capitalization of $4.09 billion and a PE ratio of 14.09.

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About Burford Capital (LON:BUR)

Burford Capital Limited is a global finance company focused on law. The Company provides investment capital, investment management, financing and risk solutions with a focus on the litigation and arbitration sector. The Company’s segments include provision of litigation investment, provision of litigation insurance, exploration of new initiatives related to application of capital to the litigation and arbitration sector until such time as those initiatives mature into full-fledged independent segments and investment management activities.

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