Topic: How To Invest

Spinoffs & Takeovers Hotline – Friday, November 10, 2023

Article Excerpt

ADF GROUP INC., $5.27, symbol DRX on Toronto, designs and engineers connections, fabrication, heavy steel built-ups, and miscellaneous and architectural metalwork. It provides its services from a 630,000-square-foot fabrication plant in Quebec and a 100,000-square-foot fabrication plant in Montana. The company’s clients include general contractors, project owners, engineering firms and project architects, structural steel erectors, and other steel structure fabricators. Examples of its work include the 440-foot-tall spire at the top of the One World Trade Center tower in New York, and the three-dimensional trusses for Mercedes-Benz Stadium in Atlanta. ADF pays a semi-annual dividend of $0.01 a share in May and October. Its $0.02 annual payment yields 0.4%. On May 30, 2023, the company announced it had signed $142.0 million in new contracts. The largest of these contracts is for the first construction phase of a pharmaceutical company in the U.S. Midwest. In the second quarter, ended July 31, 2023, ADF’s revenue increased by 20.8%, to $80.2 million from $66.4 million a year…