CYOU - Changyou.com's High Free Cash Flow Offers Attractive Yield Opportunities
(TLBB Gameplay; source: CYOU annual report)
After distributing a $503 million special dividend to its investors earlier this month, people may wonder how much more is left in Changyou.com (CYOU). After all this dividend represented more than half of CYOU's market cap the day prior to its disbursement. Investor skepticism has been further compounded by the company's inability to grow revenues in the past three years. While CYOU offers little value for growth investors, it is still a fairly safe income play at least for the next couple of years.
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