Growth is not everything when it comes to assessing an investment. Even a business where profit is flat can be attractive at the right price. This is particularly true if it is able to pay an attractive and well-covered dividend.
A strong market position with long-term contracts provides some security for revenues even if the company’s market is on the decline. Investors understand this and will discount the share price and give the shares a low rating. However, sometimes this pessimism can be overdone by investors and that provides an opportunity.
This is true of the newspaper a...
