Otelco is directly following the playbook of another small wireline I like, Mario Gabelli's LICT. LICT has been 100% focused on debt reduction making its balance sheet much stronger. No dividend. No expensive acquisitions. Lean operation. Completely the opposite of the typical large dividend-paying wireline that relies on acquisitions for growth that makes their debt balance balloon.
One can see the positive effects of LICT's frugal strategy. In the past two years LICT's stock price has appreciated by 133.33%. Don't see why that can't happen here at some point.
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