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BlackRock Enhanced Global Dividend Trust (BOE)

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

Valuation Snapshot

Stable Growth$17.47 - $25.16$21.22
Multi-Stage$29.89 - $32.74$31.29
Blended Fair Value$26.25
Current Price$11.35
Upside131.31%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS-1.44%-5.77%0.790.790.810.810.820.851.032.601.231.36
YoY Growth---0.04%-1.89%-0.62%-1.49%-3.13%-17.31%-60.34%111.91%-9.77%-5.41%
Dividend Yield--7.35%7.99%8.45%6.67%7.56%7.75%10.99%20.36%10.59%10.64%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)147.12
(-) Cash Dividends Paid (M)98.97
(=) Cash Retained (M)48.14
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)29.4218.3911.03
Cash Retained (M)48.1448.1448.14
(-) Cash Required (M)-29.42-18.39-11.03
(=) Excess Retained (M)18.7229.7537.11
(/) Shares Outstanding (M)59.5859.5859.58
(=) Excess Retained per Share0.310.500.62
LTM Dividend per Share1.661.661.66
(+) Excess Retained per Share0.310.500.62
(=) Adjusted Dividend1.982.162.28
WACC / Discount Rate9.08%9.08%9.08%
Growth Rate-2.00%-1.00%0.00%
Fair Value$17.47$21.22$25.16
Upside / Downside53.94%86.97%121.63%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)147.12145.64144.19142.75141.32139.91144.10
Payout Ratio67.28%71.82%76.37%80.91%85.46%90.00%92.50%
Projected Dividends (M)98.97104.60110.11115.50120.76125.91133.29

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.08%9.08%9.08%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)94.9395.8996.86
Year 2 PV (M)90.6892.5494.42
Year 3 PV (M)86.3288.9991.71
Year 4 PV (M)81.9185.3088.80
Year 5 PV (M)77.5081.5485.74
PV of Terminal Value (M)1,349.391,419.661,492.82
Equity Value (M)1,780.731,863.921,950.36
Shares Outstanding (M)59.5859.5859.58
Fair Value$29.89$31.29$32.74
Upside / Downside163.34%175.65%188.43%

High-Yield Dividend Screener

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