Global Undervalued Dividend Payers

Barco

Market Cap: €744.3m

Develops visualization solutions, and collaboration and networking technologies for the entertainment, enterprise, and healthcare markets in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific.

Autoneum Holding

Market Cap: CHF 673.4m

Develops and manufactures acoustic and thermal management solutions for light and commercial vehicles.

Elecom

Market Cap: JP¥134.1b

Engages in the development, manufacturing, and sale of personal computers and digital equipment related products in Japan and internationally.

Sharda Cropchem

Market Cap: ₹80.6b

A crop protection chemical company, provides various formulations and generic active ingredients worldwide.

Petrovietnam Camau Fertilizer

Market Cap: ₫22.0t

Engages in the production and trading of fertilizers in Vietnam and internationally.

Guoquan Food (Shanghai)

Market Cap: HK$6.6b

Operates as a home meal products company in Mainland China.

Camden National

Market Cap: US$834.2m

Operates as the bank holding company for Camden National Bank that provides various commercial and consumer banking products and services for consumer, institutional, municipal, non-profit, and commercial customers in the United States.

Azzas 2154

Market Cap: R$4.2b

Engages in the development and marketing of women's, men's and children's footwear, handbags, accessories, and clothing in Brazil and internationally.

Morgan Advanced Materials

Market Cap: UK£615.1m

Manufactures and sells various carbon and ceramic products.

Zee Entertainment Enterprises

Market Cap: ₹78.9b

Engages in broadcasting satellite television channels and digital media in India and internationally.

Grupa Pracuj

Market Cap: zł3.0b

Operates HR technology platform in Poland, Ukraine, and Germany.

Pason Systems

Market Cap: CA$1.1b

Provides instrumentation and data management systems for oil and gas drilling in Canada, the United States, and internationally.

Itoki

Market Cap: JP¥129.7b

Plans, designs, manufactures, and sells office furniture in Japan and internationally.

Synsam

Market Cap: SEK 7.6b

Operates in the optical retail and eye health sector in the Nordic Region.

Security Bank

Market Cap: ₱49.7b

Provides banking and financial products and services to wholesale and retail clients in the Philippines.

CEWE Stiftung KGaA

Market Cap: €692.5m

Operates as a photo service and online printing provider in Germany and internationally.

AGF Management

Market Cap: CA$1.1b

AGF Management Limited is one of Canada’s premier investment management companies with offices across Canada and subsidiaries around the world.

Hangzhou Huawang New Material TechnologyLtd

Market Cap: CN¥5.1b

Hangzhou Huawang New Material Technology Co.,Ltd.

Gushengtang Holdings

Market Cap: HK$5.9b

An investment holding company, provides healthcare services in the People’s Republic of China.

Construtora Tenda

Market Cap: R$3.7b

Operates as a construction company for homes in Brazil.

Arjo

Market Cap: SEK 6.9b

Develops and sells medical devices and solutions for patients for clinical and financial outcomes for healthcare in Europe, Asia, Latin America, Africa, and the Pacific.

Zignago Vetro

Market Cap: €635.5m

Produces, markets, and sells glass containers in Italy, Europe, and internationally.

Mega First Corporation Berhad

Market Cap: RM 2.9b

Engages in renewable energy, resources, and packaging businesses in Malaysia, Lao PDR, other ASEAN countries, India, Bangladesh, Papua New Guinea, the United States, Australia, New Zealand, and internationally.

Shanghai Bolex Food Technology

Market Cap: CN¥4.9b

Engages in the research, development, production, and sales of condiments and pre-cooked food in China and internationally.

Orrstown Financial Services

Market Cap: US$719.3m

Operates as the financial holding company for Orrstown Bank that provides commercial banking and financial advisory services to retail, commercial, non-profit, and government clients in the United States.

Ridley

Market Cap: AU$1.0b

Engages in the provision of animal nutrition solutions in Australia the United States, New Zealand, and Thailand.

Jinzai Food GroupLtd

Market Cap: CN¥4.8b

Engages in the research, development, production, and sale of snack foods in China and internationally.

Independent Bank

Market Cap: US$698.5m

Operates as the bank holding company for Independent Bank that provides banking services in the United States.

AZ-COM MARUWA Holdings

Market Cap: JP¥110.8b

Provides logistics services in Japan.

Hansen Technologies

Market Cap: AU$967.4m

Engages in the development, integration, and support of billing and customer information systems.

Ciputra Development

Market Cap: Rp12.1t

Develops and sells real estate properties in Indonesia.

Hilton Food Group

Market Cap: UK£501.5m

Engages in the multi-protein food business.

Ligao FoodsLtd

Market Cap: CN¥4.5b

Engages in the research and development, production, and selling of baked food raw material and frozen baked foods in China.

LX Semicon

Market Cap: ₩1.0t

Operates as a semiconductor company in South Korea, China, Vietnam, Taiwan, Japan, and internationally.

Craneware

Market Cap: UK£493.9m

Develops, licenses, and supports computer software for the healthcare industry in the United States.

GFT Technologies

Market Cap: €570.1m

Provides digital transformation services.