Growth + Float = Delta money gameSET:DELTA is the best performing large-cap stock since Covid time - the stock is the thiry-bagger from end of 2019 to today (7 Nov 24) - generating massive return to its shareholders and executives.
>> Not a new kid on the block :
Pre-covid, Delta had decent financial performance. The company consistently achieved revenue and earnings growth and was profitable through cycles. It's also a reliable dividend payer - deliver 3%+ yield to its shareholders.
Single-digit growth and contistent dividend payout were Delta's characterictics back in the old days. As such, DELTA P/E had been in the mid-teens.
>> I want it all
In 2018, Delta announced the voluntary tender offer deltathailand.com at the price of 71 Baht/share (Bt 10 par). The company said the tender offer aimed to strengthen Delta's manufacturing capabilities and sales support in Southeast Asia.
Tender process concluded in mid 2019, reducing the free float from 37% to 22% .
