#2 CDW Holding Limited CDW is a Japanese-managed precision component manufacturer. It focuses on the production and supply of niche precision components for mobile communication equipment, gamebox entertainment equipment, consumer and information technology equipment, office equipment and electrical appliances. It has presence in Japan, Hong Kong, China, and Philippines. As its latest quarterly report, CDW’s revenue increased by 9.7% to USD 49.5 million. Its net profit increased by an admirable 124.4% to USD 0.46 million. Free cash flow came in at a negative USD 3.9 million. Cash balance of the company was a healthy level of USD 18.7 million. In FY 2019, CDW paid out a total dividend of USD 0.011 per share. This represents a dividend payout ratio of more than 100% as earnings from FY 2019 was negative. Dividend paid out has been stable in the range of USD 0.011 – 0.012 per share for the past...