Ann: Annual Report to shareholders, page-2

The chairman summery

“DWS will continue to look for suitable acquisitions and in the absence of M&A activity or other appropriate investments, DWS will continue to focus on shareholder returns and further paying down debt with surplus cash generated.”

Interesting to note that CEO and founder D Wallis, holds 56 m shares, which is around 43% of total shares.
his salary is very reasonable, adding up 10 c' DIV per share makes a nice top up bonus.
I was hoping to read about share buyback.

DWS can easily reduce DIV to 6 c' a year and use surplus cash to reduce shares on the registry.
OCL ( objective cop) another IT comp did that few years ago, with CEO holding majority of shares.

At $ 1.32 PS I am a net buyer, great DIV yield above 7% and low PE of x10.

DWS with its high cash flow and high-profit margins has tremendous firepower with its ability to improve shareholder value.
acquisition of complementary businesses is one option.