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

Western Asset Premier Bond Fund (WEA)

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

Valuation Snapshot

Stable Growth$9.25 - $13.11$11.16
Multi-Stage$16.85 - $18.45$17.63
Blended Fair Value$14.40
Current Price$10.85
Upside32.67%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS1.28%-2.54%0.670.640.630.630.630.630.630.690.820.86
YoY Growth--4.48%1.52%0.37%-0.07%0.18%0.09%-9.06%-15.61%-5.03%-0.51%
Dividend Yield--6.24%5.98%5.95%4.41%4.46%4.30%5.21%5.01%6.34%7.11%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)21.12
(-) Cash Dividends Paid (M)16.93
(=) Cash Retained (M)4.19
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)4.222.641.58
Cash Retained (M)4.194.194.19
(-) Cash Required (M)-4.22-2.64-1.58
(=) Excess Retained (M)-0.031.552.61
(/) Shares Outstanding (M)14.8314.8314.83
(=) Excess Retained per Share0.000.100.18
LTM Dividend per Share1.141.141.14
(+) Excess Retained per Share0.000.100.18
(=) Adjusted Dividend1.141.251.32
WACC / Discount Rate9.08%9.08%9.08%
Growth Rate-2.88%-1.88%-0.88%
Fair Value$9.25$11.16$13.11
Upside / Downside-14.72%2.83%20.84%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)21.1220.7320.3419.9519.5819.2119.79
Payout Ratio80.16%82.13%84.09%86.06%88.03%90.00%92.50%
Projected Dividends (M)16.9317.0217.1017.1717.2417.2918.30

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.08%9.08%9.08%
Growth Rate-2.88%-1.88%-0.88%
Year 1 PV (M)15.4515.6115.76
Year 2 PV (M)14.0814.3714.67
Year 3 PV (M)12.8313.2313.64
Year 4 PV (M)11.6912.1712.68
Year 5 PV (M)10.6411.2011.78
PV of Terminal Value (M)185.22194.95205.09
Equity Value (M)249.90261.53273.62
Shares Outstanding (M)14.8314.8314.83
Fair Value$16.85$17.63$18.45
Upside / Downside55.29%62.52%70.03%

High-Yield Dividend Screener

« Prev Page 11 of 30 Next »
Ticker Company Dividend Yield % Dividend Per Share Payout Ratio %
THFFFirst Financial Corporation3.32%$1.9831.67%
IRDMIridium Communications Inc.3.31%$0.5949.66%
PDCOPatterson Companies, Inc.3.31%$1.0466.64%
0HRZ.LCoterra Energy Inc.3.30%$0.8840.64%
ACIAlbertsons Companies, Inc.3.30%$0.5733.33%
KDPKeurig Dr Pepper Inc.3.30%$0.9278.89%
SPBSpectrum Brands Holdings, Inc.3.30%$1.9848.25%
0IUX.LGenuine Parts Company3.29%$4.0569.77%
BGBunge Global S.A.3.29%$3.0531.37%
HDGCXThe Hartford Dividend and Growth Fund Class C3.29%$1.0820.58%
PSBDPalmer Square Capital BDC Inc.3.29%$0.4090.32%
LIENChicago Atlantic BDC, Inc.3.28%$0.3423.50%
REXRRexford Industrial Realty, Inc.3.28%$1.2890.14%
CVCYCentral Valley Community Bancorp3.27%$0.5832.80%
F-PDFord Motor Company 6.500% Notes3.27%$0.7463.45%
FSBWFS Bancorp, Inc.3.27%$1.3331.78%
TRNOTerreno Realty Corporation3.27%$1.9362.02%
0I1P.LComerica Incorporated3.26%$2.8252.30%
ALEXAlexander & Baldwin, Inc.3.26%$0.6766.95%
BRXBrixmor Property Group Inc.3.26%$0.8578.30%
AGM-PCFederal Agricultural Mortgage Corporation3.24%$7.8539.89%
HTOH2O America3.24%$1.6052.08%
WECWEC Energy Group, Inc.3.24%$3.4566.21%
XOMExxon Mobil Corporation3.24%$3.9857.54%
SCLStepan Company3.22%$1.5276.82%
HBTHBT Financial, Inc.3.21%$0.8333.20%
KALUKaiser Aluminum Corporation3.21%$3.8670.13%
SMPStandard Motor Products, Inc.3.20%$1.1838.74%
0QZA.LConocoPhillips3.19%$3.0943.65%
PAGPenske Automotive Group, Inc.3.18%$5.0435.22%
CRBGCorebridge Financial, Inc.3.17%$0.9652.57%
EDConsolidated Edison, Inc.3.17%$3.1756.36%
LARKLandmark Bancorp, Inc.3.17%$0.8238.75%
NBPU.LNB Private Equity Partners Limited3.17%$0.6770.20%
PFBCPreferred Bank3.16%$3.0329.67%
HNIHNI Corporation3.15%$1.3444.63%
RBBRBB Bancorp3.15%$0.6443.45%
FGF&G Annuities & Life, Inc.3.14%$0.9428.23%
NBHCNational Bank Holdings Corporation3.14%$1.1937.27%
0KZA.LSM Energy Company3.13%$0.609.44%
CBUCommunity Bank System, Inc.3.13%$1.8246.85%
DTEDTE Energy Company3.13%$4.0887.19%
RNSTRenasant Corporation3.13%$1.1148.14%
BSRRSierra Bancorp3.11%$1.0134.68%
FCFFirst Commonwealth Financial Corporation3.11%$0.5238.19%
PNCThe PNC Financial Services Group, Inc.3.11%$6.5739.89%
PRKPark National Corporation3.11%$4.8044.20%
GEFGreif, Inc.3.10%$2.1212.04%
0QAH.LMerck & Co., Inc.3.09%$3.2542.60%
BANRBanner Corporation3.09%$1.9335.15%