Welcome to our dedicated page for Burford Capital news (Ticker: BUR), a resource for investors and traders seeking the latest updates and insights on Burford Capital stock.
Burford Capital Limited (NYSE: BUR) generates a steady flow of news as a global finance and asset management firm focused on law. Company announcements repeatedly describe Burford’s businesses as including litigation finance and risk management, asset recovery and a wide range of legal finance and advisory activities, and its news coverage reflects these themes.
On this page, readers can follow Burford Capital news related to its legal finance portfolio, financing activities, dividends and corporate governance. Recent press releases, many of which are furnished on Form 8-K, have covered topics such as unaudited financial results for quarterly and year-to-date periods, interim dividend declarations on ordinary shares and detailed updates on significant legal matters like the YPF case involving the Republic of Argentina.
Burford’s news flow also includes capital markets activity, such as private offerings of senior notes by its indirect, wholly owned subsidiary Burford Capital Global Finance LLC, with guarantees provided on a senior unsecured basis by Burford Capital and certain subsidiaries. These releases explain the intended use of proceeds, including repayment or redemption of existing bonds and general corporate purposes.
In addition, Burford publishes thought leadership through its Burford Quarterly journal, which explores legal finance trends across sectors and jurisdictions. News items describe how legal finance is used to manage risk, unlock capital and support complex business disputes, highlighting Burford’s perspective on developments at the intersection of law and finance.
Investors and observers can use this news page to review Burford’s official communications, including earnings announcements, dividend decisions, updates on key legal matters and commentary on the evolving legal finance market, all drawn directly from the company’s own press releases and regulatory disclosures.
Burford Capital, a global finance and asset management firm focused on law, has published the latest issue of its journal, Burford Quarterly, on April 19, 2023. This edition features insights from industry leaders, including an interview with ACC President and CEO Veta T. Richardson discussing diversity challenges in legal practice. Key topics include a case study on how health insurers utilized legal finance for risk management, insights from Burford's 2022 Securities Litigation Symposium, and discussions on the role of legal finance in protecting patent rights for medical device companies. The publication emphasizes the importance of legal finance in offsetting economic downturns for law firms and offers perspectives from insolvency practitioners across the Asia-Pacific region.
Burford Capital Limited (NYSE: BUR) announced a favorable ruling from the U.S. District Court for the Southern District of New York regarding its litigation against Argentina over unfulfilled tender offers related to YPF shares. The court found Argentina liable for damages but dismissed YPF from the case. Burford anticipates substantial damages, with estimates ranging from $4.5 billion to $7.5 billion for Petersen and between $550 million to $900 million for Eton Park. The court will hold a hearing to resolve issues before calculating damages, while Burford's shares were briefly suspended on the NYSE following the ruling.
Burford Capital Limited provided an update on its 2022 business activity, highlighting over $300 million in cash receipts and a significant increase in portfolio activity as courts resumed operations. The company reported Burford-only capital provision-direct realizations up 33% to $350 million and a record $1.2 billion in new commitments. Notable outcomes included a $90 million settlement and a potential $400 million in proceeds from appellate resolutions. Despite strong performance, Burford is revising its fair value methodology, which could lead to material changes in its financial statements. An interim dividend of 6.25¢ per share is set for June 2023.
Burford Capital announced plans to purchase up to 400,000 ordinary shares to satisfy awards under its 2016 Long Term Incentive Plan. The expected market value of this purchase is approximately £2,804,000, based on the closing price on the London Stock Exchange's AIM as of December 7, 2022. The share buyback will be requested from the trustee of the Burford Capital Employee Benefit Trust and will occur on the open market by December 31, 2022. An announcement will follow upon completion of the purchase.
Burford Capital Limited has appointed Berenberg as its Joint Corporate Broker, effective immediately. This addition enhances Burford's advisory capabilities alongside existing brokers Numis Securities and Jefferies International. Burford Capital focuses on law-related finance and asset management, operating globally with offices in key financial centers. The appointment aims to strengthen Burford’s market presence and shareholder value.
Burford Capital Limited has announced its 2022 interim dividend of 6.25 US cents per share, set to be paid on December 1, 2022, for shareholders recorded by November 4, 2022. For those opting for Sterling, the dividend converts to 5.542254 pence per share, based on an exchange rate of £1 = US$1.1277. This highlights Burford's commitment to returning value to shareholders amidst its legal financing operations.
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Burford Capital has appointed Jordan Licht as its new Chief Financial Officer, transitioning from his role as COO at Caliber Home Loans. Licht's extensive experience includes significant positions at Morgan Stanley and consulting at Diamond Consulting. He aims to enhance Burford's finance function as the firm completes its transition to a full US SEC-registered issuer. Licht replaces Ken Brause, who will act as a Senior Advisor during the transition. CEO Christopher Bogart expressed confidence in Licht's capabilities to advance the company's finance structure.
Burford Capital Limited will disclose its interim results for the six months ended June 30, 2022, on August 9, 2022, at 7.00am EDT. A conference call for investors and analysts is scheduled for the same day at 10.00am EDT. Investors can pre-register for the call through the provided link to ensure dedicated access. An interim results presentation will be available on Burford's website on the same date. A replay facility will also be accessible until August 23, 2022.
Burford Capital announced that Andrea Muller, a non-executive director, purchased 10,000 ordinary shares between June 21 and June 23, 2022, for an average price of $8.88 per share on the New York Stock Exchange. This transaction follows the company's ongoing commitment to transparency in dealings by insiders. The notification is part of regulatory compliance for securities transactions by persons discharging managerial responsibilities.