Someone with more knowledge than I can you please explain to me these two lines on the cash flow statement?
Dividends paid to the holders of the Company’s common stock
Dividends paid to the non-controlling interest holders
On the first line, there was no dividend paid this quarter, right? The total payout between these two was about $1,000,000 this quarter. Not too much I know, but that's still over 10% of the net income for the quarter.
So they had $130MM, give or take, to do other things, which is simply incredible for a stock that is valued at less than $800MM. It looks like a big chunk of cash went to pay off payables($230MM) and receivables rose a bit as well($50MM), which accounts for much of the cash. Thus the balance sheet was improved and the book value rose by nearly 8% even after paying their 6% dividend this year.
Combining all cash flow you are receiving with the fact that you are buying the stock for 70% of its book value, makes this stock a strong buy in my opinion. Why it doesn't get more attention is beyond me.