15th Jun 2023 09:42
IP Group PLC - Oxford, England-based intellectual property commercialisation - Remains "well financed" in the first half of 2023, noting a gross cash and deposits of GBP260 million at June 14, up 7.7% from GBP241.5 million in 2022. Says this results from a GBP60 million debt drawdown. Adds it has invested a total of GBP51 million into its portfolio and cites "notable investments" into 10 existing portfolio companies. Realisations are in line with its expectations, totalling GBP31 million in the year to date. Holding annual general meeting on Thursday. Recommends a final dividend of 0.76 pence per share. If approved at AGM, this will bring the total dividend for 2022 to 1.26p per share, up 5.0% from 1.20p per share in 2021.
Current stock price: 53.25 pence, down 0.1% on Thursday
12-month change: down 29%
By Sabrina Penty, Alliance News reporter
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