Definitive Analysis | Institutional-Grade Financial Research
Definitive Analysis
Get Full Access
See Pricing Start Free Trial

Invesco High Income Trust II (VLT)

Company Dividend Discount ModelIndustry: Asset Management - IncomeSector: Financial Services

Valuation Snapshot

Stable Growth$9.75 - $13.16$11.49
Multi-Stage$19.54 - $21.51$20.51
Blended Fair Value$16.00
Current Price$11.15
Upside43.51%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2025202420232022202120202019201820172016
DPS-8.07%-6.76%0.800.760.760.841.001.221.281.271.341.44
YoY Growth--5.44%0.13%-9.55%-15.48%-18.65%-4.60%1.08%-5.05%-7.13%-11.06%
Dividend Yield--7.27%7.25%6.98%6.62%7.19%9.04%8.99%9.02%9.12%11.41%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)13.62
(-) Cash Dividends Paid (M)6.40
(=) Cash Retained (M)7.23
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)2.721.701.02
Cash Retained (M)7.237.237.23
(-) Cash Required (M)-2.72-1.70-1.02
(=) Excess Retained (M)4.505.526.20
(/) Shares Outstanding (M)6.496.496.49
(=) Excess Retained per Share0.690.850.96
LTM Dividend per Share0.990.990.99
(+) Excess Retained per Share0.690.850.96
(=) Adjusted Dividend1.681.841.94
WACC / Discount Rate9.08%9.08%9.08%
Growth Rate-6.95%-5.95%-4.95%
Fair Value$9.75$11.49$13.16
Upside / Downside-12.57%3.09%17.98%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)13.6212.8112.0511.3310.6610.0210.32
Payout Ratio46.97%55.57%64.18%72.79%81.39%90.00%92.50%
Projected Dividends (M)6.407.127.738.258.679.029.55

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.08%9.08%9.08%
Growth Rate-6.95%-5.95%-4.95%
Year 1 PV (M)6.466.536.60
Year 2 PV (M)6.366.506.64
Year 3 PV (M)6.156.366.56
Year 4 PV (M)5.876.136.39
Year 5 PV (M)5.545.846.16
PV of Terminal Value (M)96.41101.71107.23
Equity Value (M)126.80133.06139.58
Shares Outstanding (M)6.496.496.49
Fair Value$19.54$20.51$21.51
Upside / Downside75.28%83.93%92.95%

High-Yield Dividend Screener

Page 1 of 30 Next »
Ticker Company Dividend Yield % Dividend Per Share Payout Ratio %
ARDCAres Dynamic Credit Allocation Fund, Inc.19.91%$2.6577.10%
JGHNuveen Global High Income Fund19.71%$2.4870.08%
BSLBlackstone / GSO Senior Floating Rate Term Fund19.66%$2.6595.83%
RGTRoyce Global Value Trust, Inc.19.58%$2.5637.89%
AIKIAIkido Pharma Inc.19.55%$0.7010.85%
PFNPIMCO Income Strategy Fund II19.43%$1.4672.85%
JLSNuveen Mortgage and Income Fund19.40%$3.5384.31%
ACVVirtus Diversified Income & Convertible Fund19.28%$5.0772.66%
BGBBlackstone/GSO Strategic Credit Fund19.19%$2.2686.72%
PHKPIMCO High Income Fund19.11%$0.9386.61%
DTWDTE Energy Company JR SUB DB 2017 E19.03%$4.0887.19%
EMDWestern Asset Emerging Markets Debt Fund Inc.18.84%$2.0378.17%
SR-PASpire Inc.18.76%$4.5498.60%
SRVNXG Cushing Midstream Energy Fund18.74%$7.5366.75%
CIKCredit Suisse Asset Management Income Fund, Inc.18.41%$0.5282.82%
DHYCredit Suisse High Yield Bond Fund, Inc.18.39%$0.3788.67%
MNRMach Natural Resources LP18.30%$2.0689.28%
PFLPIMCO Income Strategy Fund18.22%$1.5484.57%
EADWells Fargo Advantage Funds - Allspring Income Opportunities Fund18.08%$1.2352.27%
SPESpecial Opportunities Fund, Inc.18.03%$2.6644.19%
AIFApollo Tactical Income Fund Inc.17.93%$2.6660.44%
GABThe Gabelli Equity Trust Inc.17.77%$1.0881.70%
HPFJohn Hancock Preferred Income Fund II17.73%$2.8678.50%
MPVBarings Participation Investors17.65%$2.9395.78%
GBABGuggenheim Taxable Municipal Bond & Investment Grade Debt Trust17.43%$2.5974.37%
TEITempleton Emerging Markets Income Fund17.42%$1.1464.65%
ISDPGIM High Yield Bond Fund, Inc.17.40%$2.5296.64%
HIXWestern Asset High Income Fund II Inc.17.39%$0.7396.11%
NXGNXG NextGen Infrastructure Income Fund17.31%$8.7983.58%
HPIJohn Hancock Preferred Income Fund17.11%$2.7976.40%
RCSPIMCO Strategic Income Fund, Inc.17.08%$1.0075.51%
DUKBDuke Energy Corporation 5.625%16.95%$4.1965.28%
FGBFirst Trust Specialty Finance and Financial Opportunities Fund16.75%$0.7050.91%
RQICohen & Steers Quality Income Realty Fund, Inc.16.75%$1.9287.08%
FPFFirst Trust Intermediate Duration Preferred & Income Fund16.57%$3.0970.83%
EVVEaton Vance Limited Duration Income Fund16.43%$1.6364.70%
AIZNAssurant, Inc. 5.25% Subordinat16.41%$3.2219.47%
NMLNeuberger Berman MLP and Energy Income Fund Inc.16.37%$1.4040.22%
PGPPIMCO Global StocksPLUS & Income Fund16.31%$1.5060.66%
CHWCalamos Global Dynamic Income Fund16.07%$1.2066.54%
BGYBlackRock Enhanced International Dividend Trust15.99%$0.9499.21%
GABBXGabelli Dividend Growth AAA15.98%$2.8540.22%
BDJBlackRock Enhanced Equity Dividend Trust15.90%$1.4972.30%
DSLDoubleLine Income Solutions Fund15.85%$1.7854.50%
PDTJohn Hancock Premium Dividend Fund15.76%$2.0162.66%
TSQTownsquare Media, Inc.15.55%$0.7970.58%
EODWells Fargo Advantage Funds - Allspring Global Dividend Opportunity Fund15.39%$0.9052.51%
LGILazard Global Total Return and Income Fund, Inc.15.37%$2.6882.52%
BSTZBlackRock Science and Technology Trust II15.35%$3.5465.39%
FPIFarmland Partners Inc.15.34%$1.4893.00%