1 ASX dividend stock down 60% to buy right now
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KMD Brands Ltd (ASX: KMD) has experienced a significant decline in its share price, down 13% this year, 36% in the last year, and 60% since October 2021. The company reported a trading update in December 2023, stating that group sales were down 12.5% YoY due to ongoing weakness in consumer sentiment. Despite the decline, the author believes that KMD Brands could potentially offer significant dividends in the future. The company's group underlying earnings before interest, tax, depreciation, and amortization (EBITDA) for FY24 to date was $16 million lower than last year. However, the overall gross profit margin improved, and the group working capital decreased 10.2% YoY. The author suggests that if KMD's earnings rebound in FY25 and beyond, the ASX dividend stock could deliver strong outperformance.

#Asx #DividendStock #KmdBrandsLtd

https://www.fool.com.au/2024/02/12/1-asx-dividend-stock-down-60-to-buy-right-now/