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Definitive Analysis

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Page: Dividend Discount Model

Barings Participation Investors

Ticker: MPV | Industry: Asset Management | Sector: Financial Services
$19.50 +0.22 (1.14%)
As of: 2026-01-23

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Dividend Discount Models Snapshot

ModelRangeSelected
Stable Growth DDM$51.66 - $88.83$66.56
Multi-Stage DDM$20.71 - $22.66$21.67
Blended Fair Value$44.11
Stock Price$19.57

Dividend History (Last 10 Years)

Metric2024202320222021202020192018201720162015
DPS1.4431.1800.8200.8000.8701.0811.0891.0811.0761.078
YoY %22.33%43.90%2.50%-8.01%-19.57%-0.71%0.70%0.48%-0.19%0.18%
Yield7.376%6.030%4.190%4.088%4.444%5.525%5.564%5.525%5.499%5.510%

CAGRValue
5 Year5.95%
10 Year2.98%

Discounted Dividend Model - Stable Growth

MetricRangeSelected
LT Growth3.90% to 5.90%4.90%
WACC9.40%9.40%
Fair Value$51.66 - $88.83$66.56

Calculation Details (Millions)

MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(*) Adjusted Net Income17.2517.2517.25
(=) Cash Required3.452.161.29
Cash Retained17.2517.2517.25
(-) Cash Required-3.45-2.16-1.29
(=) Excess Retained13.8015.0915.95
(/) Shares Outstanding10,680,00010,680,00010,680,000
(=) Excess Retained per Share1.291.411.49
LTM Dividend per Share1.4431.4431.443
(+) Excess Retained per Share1.291.411.49
(=) Adjusted Dividend2.7352.8562.937

Multi-Stage Projections (BASE Case - Millions)

MetricTTMYear 1Year 2Year 3Year 4Year 5
Net Income17.2518.0918.9819.9120.8821.91
Payout Ratio89.4%25.0%41.0%57.0%73.0%90.0%
Projected Dividends15.424.527.7811.3515.2419.71

Multi-Stage Valuation (Millions)

Present ValuesLOWBASEHIGH
Year 1 PV4.284.324.37
Year 2 PV6.676.806.93
Year 3 PV8.819.069.33
Year 4 PV10.7111.1311.56
Year 5 PV12.5413.1613.80
TV PV178.16186.91195.99
Equity Value221.18231.38241.97
Fair Value$20.71$21.67$22.66
Stock Price$19.57$19.57$19.57

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SPE Special Opportunities Fund, Inc. 18.03% $2.66 44.19%
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NXG NXG NextGen Infrastructure Income Fund 17.31% $8.79 83.58%
HPI John Hancock Preferred Income Fund 17.11% $2.79 76.40%
RCS PIMCO Strategic Income Fund, Inc. 17.08% $1.00 75.51%
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FGB First Trust Specialty Finance and Financial Opportunities Fund 16.75% $0.70 50.91%
RQI Cohen & Steers Quality Income Realty Fund, Inc. 16.75% $1.92 87.08%
FPF First Trust Intermediate Duration Preferred & Income Fund 16.57% $3.09 70.83%
EVV Eaton Vance Limited Duration Income Fund 16.43% $1.63 64.70%
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NML Neuberger Berman MLP and Energy Income Fund Inc. 16.37% $1.40 40.22%
PGP PIMCO Global StocksPLUS & Income Fund 16.31% $1.50 60.66%
CHW Calamos Global Dynamic Income Fund 16.07% $1.20 66.54%
BGY BlackRock Enhanced International Dividend Trust 15.99% $0.94 99.21%
GABBX Gabelli Dividend Growth AAA 15.98% $2.85 40.22%
BDJ BlackRock Enhanced Equity Dividend Trust 15.90% $1.49 72.30%
DSL DoubleLine Income Solutions Fund 15.85% $1.78 54.50%
PDT John Hancock Premium Dividend Fund 15.76% $2.01 62.66%
TSQ Townsquare Media, Inc. 15.55% $0.79 70.58%
EOD Wells Fargo Advantage Funds - Allspring Global Dividend Opportunity Fund 15.39% $0.90 52.51%
LGI Lazard Global Total Return and Income Fund, Inc. 15.37% $2.68 82.52%
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