Detroit Bear
Deep value, special situations, long-term horizon, value

Hickory Tech: A Solid Dividend With Rebounding Cash Flow

When I think of Hickory, a few things come to mind: trees and Andrew Jackson. President Jackson leads to many other thoughts, but the point remains, that I do not quickly associate Hickory with technology. However, a little upper Midwest cable, Internet, and telecom equipment company by the name of Hickory Tech (OTCPK:HTCO) has caught my attention-partly because it has changed its name from Hickory Tech to Enventis. The firm sports a 4.3% dividend yield, and though it trades at a fairly rich earnings multiple, I think it can provide investors with a reasonable return going forward.


Enventis has a lineage over 100 years old and tracing back to the Mankato Citizen's Telephone Company. The firm...

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