payout ratio

Hi Guys.
I'm currently not a holder in DTL, however I do like the company and am considering taking a long term position in it. However there are a couple of things I'm interested in hearing some opinions on.

First is the low margin nature of the business. It wouldn't take too much in the way of adverse cost blowout or writeoff for the company to make a loss give the very low margins being produced. How does everyone else feel about this? Is it simply a case of competition for business meaning DTL are forced to lower their "price"? My major concern is that low margin business's are often business's with low barriers to entry and high competition, meaning less of a competitive advantage for DTL.

Secondly and somewhat confusing for me is the high payout ratio the management team employ. I'm all for high payout ratios if the company believes they cannot re-employ our capital at a high ROE, however historically it appears DTL has both grown very quickly, but maintained a high ROE which is something I particularly look for as a big positive.

In my opinion, management are actually doing shareholders a dis-service by paying out such a high proportion of earnings as dividends...I'd much rather see them re-employ that capital at the very high ROE they have continuously achieved. That compounding high ROE can lead to serious wealth creation. What's everyones opinion on this topic?

DTL ticks some big boxes which is why I like them. Very low debt, little to no history of cap raisings, continuous growth and consistently high ROE. The above are my two major concerns with the company. Obviously the payout ratio is not a showstopper but the low margins certainly concern me.