I invested in CDW Holding in March 2015, with an initial investment of 400,000 shares at around $0.18. Since then, the company has distributed generous dividends of 1.2 US cents annually. Which is a nice yield of around 9% or so.

CDW Holding is in the business of manufacturing light guide panels which are used mainly in smartphones, laptops and notebook computers. It also has a smaller division manufacturing precision parts for office equipment and electrical appliances. Most recently, it branched out into F&B, acquiring a ramen business in Japan.

CDW is what I’d describe as a “unique situation” investment – these are defined by me as situations where the valuation may not be the absolute key. Rather, the key to whether the investment is successful in the short to mid term depends on a certain factor or catalyst.

Earnings

Here is CDW’s multi year income statement:

The …