Monday’s News: Duke Royalty dividend announcement

Duke Royalty (DUKE.L, Market Cap Ā£114m, 47.5p, 5.3% of JIC Portfolio and 8.8% of JIC Top 10)

Duke has announced that it will pay an interim dividend of 0.75p per share.

The ex-dividend date will be 24thĀ December and payment date 14thĀ January.

Conclusion: The total dividend for the current year ending March 2020 is forecast at 3.05p, rising to 3.65p the following year to March 2021. That gives a prospective dividend yield of 6.4% rising to 7.7%, which is one of the reasons I like the stock so much. A decent dividend income and the prospect of capital growth. If the share price appreciated so that the prospective dividend yield dropped to 5.0%, (which seems sensible to me), that would mean a share price of 61p, or 28% higher. I have it as Medium Risk/High Return. Happy with that and if I didnā€™t already have a 5.3% position, I would buy more.

Screenshot 2019-12-16 at 08.01.28