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Is CDW potentially trading below net cash? Div?
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ChowAhBeng
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08-May-2013 09:57
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So back to the question... are they potentially trading below net cash? 1. The third party loans made out last year at 10% interest has a term of 12months.  Upon repayment sometime in 3 Quarter this year. They will receive (plus interest) S$6.2m (US$5.2m).  Giving a boost to net cash. 2. The  confirmed sale of their Suzhou factory to the Chinese Government in a land acquisition  deal.    CDW is set to receive compensation of S$12.8m (RMB 63.9m).  Payable in 3 tranches.    Jun 2013, Dec 2013 and Dec2014.  This too is set to boost net cash. These, together will current net cash levels of $52m, would give a combine total of S$71 million in NET CASH ALONE! Market capitalization at the current share price of 14.8cents is S$69.4 million. |
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ChowAhBeng
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07-May-2013 09:34
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NET CASH CDW  presently has 469 million shares outstanding.  At current share price of 14.5cents, it has a market capitalization of  S$68 million. As at latest audited results the company records a NET CASH (cash  minus all borrowings) of S$52 million (US$41.9m). This is despite the fact  of them having  made out a third party loan last year of US$4.9m  (S$6m) so as to generate better interest income.  On top of which, the accounts also shows held to maturity investments and held for sale investments totaling US$1.7m (S$2.1m).   |
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ChowAhBeng
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06-May-2013 13:23
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So, to sum up on dividend. 6.48% per annum on average historical dividend yield. 10.33% per annum on most recent financial yr. Of which 6.03% or us$0.7 cents have yet to be paid. But before u run out and buy, let me state that now is still not a good time yet.    Hopefully the right time  to buy would be a 1week window between when  they announce 1st Quarter and 20th May, which is ex-dividend date. Next up, their financial accounts.... |
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ChowAhBeng
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30-Apr-2013 12:17
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So what about historical Dividend trends and yield? Well, since listing in early 2005, mgmt. has been extremely fair to shareholders in that they have consistently, without fail, paid dividend EVERY half year.  That's a pretty good feat considering they  continued to paid dividend thru the sub-prime crisis of 2007 -2009. Since listing approximately 8 years ago, they have and will pay  a combined dividend of US$6.023 cents or S$7.47cents.  That works to an average historical annual yield of 6.48%! Seriously, that's not too bad considering there are some similar " currently hotly traded" Tech companies such as FuYu that haven't paid a single cent in dividend over the last 7 financial years.  lol   |
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ChowAhBeng
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30-Apr-2013 11:09
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Nobody? Well, in that case, let me start.  Let's talk about Dividend first. For FY2012, CDW has and is paying a total Dividend of US$1.2cents or S1.488cents. US$0.5cents paid  for half yr and US$0.7cents recently declared for full yr. At current share price of 14.4cents, That works to an annual yield of 10.33%! Not to bad mah     |
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ChowAhBeng
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29-Apr-2013 08:49
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With their current net cash, the third party loans they made out due 3Q this yr, and sales proceeds from the soon to be completed sale of Suzhou factory? Can anyone tell me if they are potentially trading below NET CASH? Also, are they a good dividend yielding stock?        |
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