I’ve written a couple of backtest posting on Vicom and my last article (here) was about their Q3 results, so this will just be a brief updates on the full year results, growth and dividend payouts for future reference purpose.

The result was very much predicted with low topline and bottomline growth, though it is pretty evident that growth is somewhat slowing. Here is a quick look at the summary appended below.

Full year EPS came in at 34.01 cents fully diluted and EBITDA margin continued to generate strong returns at 38.5% compared to a year earlier at 37.9%. Dividends growth has increased by 20%, making the payout ratio at a current 79.1% for the first time so high, evidently increasing the rationale that the management looked somewhat unsure what to do with their huge cash amount in the balance sheet. I would like to …