Caribbean Virgin: Unique Investment Deals In The Caribbean

Thank you for joining Caribbean Virgin: The Podcast on Unique Investment Deals in the Caribbean. I am your host, Neal Nixon. This is episode number 1. For this inaugural piece, we are going to take a snoop at Domlec, a utility company in the tiny island of Dominica. The company is the only utility concern on the island with a durability of advantage, a wide sustainable moat and a perennial rewarder of dividends. We are going dissect the company's 2015 annual report and go beyond the mathematical elegance of betas and alphas and highlight the figures that matter to investors. But first a little background: The company was started in 1949 by the Colonial Development Corporation. In 1976 the government of Dominica purchased 49% of the shares of the company and in 1983 acquired the remaining shares. Subsequently, In 1987, Government sold 60% of the shares to the general public. Further, in 1997, the Commonwealth Development Corporation (CDC) purchased 73% of the shares from the government. In May 2004 WRB E