ITRN - Ituran: Solid Business With 4% Dividend Yields

• Ituran which primarily provides advanced location and protection services for vehicles is also diversified into insurance and is opening a new segment for financing companies.
• It has a recurring revenue model consisting mostly of subscriptions and has been able to consistently grow subscriber numbers since 2004, with this period including the great financial crisis.
• The company should be impacted by higher costs due to supply chain issues emanating from China's lockdowns.
• However, it is expanding sales operations in a profitable manner and exhibits a strong cash position with no debt.
• With investors focusing on big names like Apple, small names like Ituran which pay dividend yields of 4% seem to be ignored.

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