Today we will talk about DDE, a company listed on WSE which delivers dividends weekly. The company, as declared in the IPO documents, runs 4 businesses: real estate, design, casinos and commercial prefabs. Outstanding shares consists of 1,000,001 stocks, 500,000 of which are available on the market (Float.)
It was listed on 16th march at 1L$ per share, which means a market capitalization of 1 million L$. Assets value are more then 4 million L$ (295,000 sqm in land), February earnings 320,000 L$ and a 20% payout. So market capitalization was only three times the monthly earnings. This has happened also on WSE!
DDE has regularly delivered dividends (5 times). In the last four weeks it has delivered more than 100,000 L$ dividends, or 20% of its earnings (500,000 L$).
Based on this amazing results, PB Asset Management has invested on the company. Now DDE is priced at 3.2 L$, but we think that the market has still to find a higher right value.
Pasha Boucher
Translation by Mr Jo Bleac
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