Global Undervalued Dividend Payers

Hu Lane Associate

Market Cap: NT$12.6b

Engages in the manufacture and sale of terminal parts for automotive and motorcycle electronics, terminal crimping machines, and industrial rubber and plastic products in Taiwan.

FRP Advisory Group

Market Cap: UK£285.7m

Provides business advisory services to companies, lenders, investors, individuals, and other stakeholders in the United Kingdom.

Padini Holdings Berhad

Market Cap: RM 1.5b

An investment holding company, engages in the retail of garments and ancillary products.

Insource

Market Cap: JP¥57.0b

Provides various lecturer dispatch type training, open lecture, and other services in Japan.

Route Mobile

Market Cap: ₹34.3b

Provides cloud-communication platform solutions to enterprises, over-the-top service providers, and mobile network operators in India and internationally.

Eternal Beauty Holdings

Market Cap: HK$2.8b

An investment holding company, engages in the retail, wholesale, and distribution of perfumes, skincare products, color cosmetics, personal care products, eyewear, and home fragrances in China, including Hong Kong and Macau.

Norcros

Market Cap: UK£254.3m

Designs and supplies bathroom and kitchen products in the United Kingdom, Ireland, and South Africa.

Ser Educacional

Market Cap: R$1.7b

Operates on-campus and distance-learning undergraduate, graduate, and professional training courses and other education-related areas in Brazil.

Compagnie d'Entreprises CFE

Market Cap: €280.7m

Engages in the real estate development, multitechnics, construction and renovation, and sustainable investment businesses in Belgium, Poland, Luxembourg, and internationally.

Next 15 Group

Market Cap: UK£241.2m

Next 15 Group plc, together with its subsidiaries, customer insight, customer delivery, customer engagement, and business transformation services in the United Kingdom, Africa, the United States, Europe, Middle East, and Africa.

On the Beach Group

Market Cap: UK£237.9m

Operates as an online retailer of short haul beach holidays under the On the Beach brand in the United Kingdom and Republic of Ireland.

Orsero

Market Cap: €274.6m

Imports and distributes fruits and vegetables in Europe, Latin America, and Central America.

Esprinet

Market Cap: €272.7m

Engages in the wholesale distribution of information technology (IT) products and consumer electronics in Italy, Spain, Portugal, and rest of Europe.

Duopharma Biotech Berhad

Market Cap: RM 1.3b

An investment holding company, researches, develops, manufactures, distributes, and imports pharmaceutical products and medicines in Malaysia and internationally.

CellaVision

Market Cap: SEK 2.9b

Develops and sells instruments, software, and reagents for blood and body fluids analysis in Sweden and internationally.

Gateway Distriparks

Market Cap: ₹29.6b

Provides integrated inter-modal logistics services in India.

Hansae

Market Cap: ₩457.2b

Manufactures and sells finished clothing products in Vietnam, Indonesia, Nicaragua, Guatemala, Myanmar, and Haiti.

Svedbergs Group

Market Cap: SEK 2.9b

Develops, manufactures, and markets bathroom products in the Nordic region, the United Kingdom, and the Netherlands.

Henry Boot

Market Cap: UK£221.5m

Engages in the property investment and development, land promotion, and construction activities in the United Kingdom.

SISB

Market Cap: ฿9.5b

Provides educational services in Thailand.

Infotel

Market Cap: €244.5m

Designs, develops, markets, and maintains software solutions in the areas of security, performance, and management in France, rest of Europe, and the United States.

Dharma Polimetal

Market Cap: Rp4.8t

Through its subsidiaries, manufactures and sells automotive components and metal finishing for motorcycles and cars in Indonesia.

en

Market Cap: JP¥41.2b

Provides human resources service in Japan and internationally.

Tristel

Market Cap: UK£194.1m

Develops, manufactures, and sells infection prevention products in the United Kingdom, Australia, Germany, Western Europe, and internationally.

Partron

Market Cap: ₩383.5b

Manufactures and sells electronic components South Korea and internationally.

BTG Consulting

Market Cap: UK£191.1m

Provides business recovery, financial advisory, and property services consultancy services in the United Kingdom.

Sarawak Plantation Berhad

Market Cap: RM 1.0b

An investment holding company, engages in the cultivation and processing of oil palm into crude palm oil and palm kernel in Malaysia.

SKY Network Television

Market Cap: NZ$435.1m

An entertainment company, provides sport and entertainment media services, and telecommunications services in New Zealand.

Beacon Lighting Group

Market Cap: AU$344.0m

Engages in the retail of lighting products in Australia and internationally.

Stelrad Group

Market Cap: UK£166.8m

Manufactures and distributes radiators in the United Kingdom, Ireland, Europe, Turkey, and internationally.

Italian Wine Brands

Market Cap: €185.4m

Produces and sells wine in Italy, rest of Europe, North America, South America and Islands, Asia, Oceania, and Africa.

Wasco Berhad

Market Cap: RM 836.3m

Provides energy solutions worldwide.

KginicisLtd

Market Cap: ₩305.6b

Provides electronic payment services in Korea, Asia, and internationally.

MJ Gleeson

Market Cap: UK£145.0m

Engages in house building, and land promotion and sale businesses in the United Kingdom.

Warpaint London

Market Cap: UK£143.0m

Produces and sells cosmetics.

dotdigital Group

Market Cap: UK£140.4m

Engages in the provision of intuitive software as a service (SaaS) and managed services to digital marketing professionals worldwide.