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Definitive Analysis

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Page: Dividend Discount Model

Guggenheim Taxable Municipal Bond & Investment Grade Debt Trust

Ticker: GBAB | Industry: Asset Management - Bonds | Sector: Financial Services
$15.34 +0.23 (1.52%)
As of: 2026-01-15

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Dividend Discount Models Snapshot

ModelRangeSelected
Stable Growth DDM$7.65 - $8.93$8.30
Multi-Stage DDM$4.60 - $5.12$4.86
Blended Fair Value$6.58
Stock Price$15.17

Dividend History (Last 10 Years)

Metric2025202420232022202120202019201820172016
DPS1.5891.4711.4111.3871.3541.4031.5001.5051.7441.790
YoY %8.01%4.26%1.74%2.39%-3.47%-6.46%-0.33%-13.73%-2.54%0.00%
Yield10.472%9.696%9.300%9.141%8.927%9.248%9.886%9.919%11.498%11.797%

CAGRValue
5 Year2.52%
10 Year0.00%

Discounted Dividend Model - Stable Growth

MetricRangeSelected
LT Growth-16.40% to -14.40%-15.40%
WACC9.00%9.00%
Fair Value$7.65 - $8.93$8.30

Calculation Details (Millions)

MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(*) Adjusted Net Income21.6321.6321.63
(=) Cash Required4.332.701.62
Cash Retained21.6321.6321.63
(-) Cash Required-4.33-2.70-1.62
(=) Excess Retained17.3018.9220.01
(/) Shares Outstanding23,508,66723,508,66723,508,667
(=) Excess Retained per Share0.740.810.85
LTM Dividend per Share1.5891.5891.589
(+) Excess Retained per Share0.740.810.85
(=) Adjusted Dividend2.3252.3942.440

Multi-Stage Projections (BASE Case - Millions)

MetricTTMYear 1Year 2Year 3Year 4Year 5
Net Income21.6318.3015.4813.1011.089.37
Payout Ratio172.7%25.0%41.0%57.0%73.0%90.0%
Projected Dividends37.354.576.357.478.098.44

Multi-Stage Valuation (Millions)

Present ValuesLOWBASEHIGH
Year 1 PV4.334.384.43
Year 2 PV5.455.585.71
Year 3 PV5.816.026.23
Year 4 PV5.705.986.27
Year 5 PV5.395.726.07
TV PV81.4886.4791.70
Equity Value108.16114.16120.42
Fair Value$4.60$4.86$5.12
Stock Price$15.17$15.17$15.17

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