Pinned straw:
Dicker Data released a market update this morning. From their release:
Overall a good improvement compared to info they released towards the end of last FY. Gross margins improving back to above 9% having dropped below for the previous few quarters.
Dividend is expected to be 10c per share (down from 13c PCP). Most likely the decrease is related to an increase in share count given they did a raise last year. Dividend policy unchanged at paying out 100% of NPAT.
Will maintain my valuation for now until we get some more information but seems like the business is stabilising after a disappointing FY22.
Full Announcement here
I do also note that CEO Vlad Mitnovetski purchased 20000 shares last week.
Disc: Held IRL and on Strawman
I think the decrease in dividend is to also add a bit more conservatism into their quarterly payment cycle. Up until last year they would pay 3 equal dividend payments and then a balancing amount as final. This final payment previously was a bit higher than the other quarterly amounts. Last year was an exception when the last quarterly dividend was significantly lower. Share price tanked!
This more conservative amount will help with working capital and debt levels as well so I am hoping that previous payment rhythm returns.