360 DigiTech: Cheap Shares And Now A 5.6% Dividend Yield To Boot

  • The company keeps on growing and shifting its business model to platform services where it doesn’t incur credit risk nor need for capital reserves.
  • The company also remains remarkably profitable and generates excess cash, which affords them to start paying a dividend with a pretty lofty 5.6% yield.
  • There are still important regulatory risks that are hard to assess.
  • The shares remain remarkably cheap on any metric so much regulatory headwind is priced in already, but it could get worse.
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