Litigation Capital Management, an Australia-based provider of dispute-financing solutions, has announced that it expects to achieve its strongest performance to date for fiscal 2023. The company attributes this projection to the significant number of resolutions in the second half of the year. To reward its shareholders, Litigation Capital Management will be paying a dividend of 2.25 pence per share. However, the exact distribution timeline will be confirmed alongside the full-year results.
Chief Executive, Patrick Moloney, expressed his satisfaction with the company’s financial performance, stating that it is the best in LCM’s history. As a result, the board has decided to approve the payment of a dividend. Litigation Capital Management ended the fiscal year on a high note with over 80 million Australian dollars ($54.5 million) in cash reserves as of June 30th. This strong financial position has put the company in a favorable position for the upcoming year.
In line with its peers, Litigation Capital Management has made the decision to transition to fair value accounting. As a result, the company expects to report its results under both the existing and newly adopted accounting policies.