Juridica (JIL), which specialises in providing funding for civil corporate litigation, has secured further partial settlements of $12.5m (£8.1m) from some of the cases in its portfolio, with the cash proceeds expected to be delivered at the end of this year. Accordingly, the company will consider paying a further dividend of not less than 4p a share. This follows a 10p-a-share dividend announced in July, and the two together equate to a dividend yield of 10 per cent.
Since its formation in 2007, the company has accumulated gross proceeds of $117m, of which $64m has been returned to shareholders through dividends ($54m) and a share buyback scheme ($10m). Further realisations can be expected later this year, although with each legal case running to a different timetable (some are settled out of court at the last minute), the timing of any future payouts is hard to predict. Of the cases remaining in the portfolio, investment is fairly evenly divided between antitrust, commercial and patents and while each case delivers a different return, the internal rate of return on completed investments stood at just under 82 per cent when the company last reported financial results in March.
