DDM Analysis: AAIF.L

Valuation Snapshot

Stable Growth	$3.49 - $5.25	$4.32
Multi-Stage	$4.80 - $5.26	$5.03
Blended Fair Value	$4.68
Current Price	$2.23
Upside	109.65%
Decision	Buy

Dividend History & Growth Metrics (10Y)

Metric	5Y CAGR	10Y CAGR	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DPS	3.34%	2.29%	0.12	0.11	0.10	0.10	0.10	0.10	0.10	0.11	0.10	0.11
YoY Growth	-	-	7.28%	8.80%	0.82%	-0.18%	0.32%	-0.19%	-7.09%	9.02%	-3.67%	9.26%
Dividend Yield	-	-	5.56%	5.48%	4.87%	4.50%	4.55%	4.85%	5.30%	5.16%	5.29%	6.70%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)

Net Income To Common (M)	63.56
(-) Cash Dividends Paid (M)	23.42
(=) Cash Retained (M)	40.14

Metric	LOW	BASE	HIGH
Required Retention Ratio	20.0%	12.5%	7.5%
(=) Cash Required (M)	12.71	7.95	4.77
Cash Retained (M)	40.14	40.14	40.14
(-) Cash Required (M)	-12.71	-7.95	-4.77
(=) Excess Retained (M)	27.43	32.20	35.37
(/) Shares Outstanding (M)	157.10	157.10	157.10
(=) Excess Retained per Share	0.17	0.20	0.23
LTM Dividend per Share	0.15	0.15	0.15
(+) Excess Retained per Share	0.17	0.20	0.23
(=) Adjusted Dividend	0.32	0.35	0.37
WACC / Discount Rate	9.58%	9.58%	9.58%
Growth Rate	0.29%	1.29%	2.29%
Fair Value	$3.49	$4.32	$5.25
Upside / Downside	56.60%	93.85%	135.32%

Multi-Stage Model: Projections

(USD in Millions)

Metric	TTM	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Terminal
Net Income (M)	63.56	64.38	65.21	66.05	66.91	67.77	69.80
Payout Ratio	36.85%	47.48%	58.11%	68.74%	79.37%	90.00%	92.50%
Projected Dividends (M)	23.42	30.57	37.89	45.40	53.10	60.99	64.57

Multi-Stage Valuation

Metric	LOW	BASE	HIGH
WACC / Discount Rate	9.58%	9.58%	9.58%
Growth Rate	0.29%	1.29%	2.29%
Year 1 PV (M)	27.62	27.89	28.17
Year 2 PV (M)	30.94	31.56	32.18
Year 3 PV (M)	33.49	34.50	35.53
Year 4 PV (M)	35.39	36.82	38.30
Year 5 PV (M)	36.73	38.59	40.54
PV of Terminal Value (M)	590.44	620.47	651.71
Equity Value (M)	754.60	789.84	826.43
Shares Outstanding (M)	157.10	157.10	157.10
Fair Value	$4.80	$5.03	$5.26
Upside / Downside	115.39%	125.45%	135.89%

High-Yield Dividend Screener

US Stocks Global Stocks

« Prev Page 13 of 30 Next »

Ticker ⇵	Company ⇵	Dividend Yield % ▼	Dividend Per Share ⇵	Payout Ratio % ⇵
CL	Colgate-Palmolive Company	2.88%	$2.24	62.40%
TCBK	TriCo Bancshares	2.87%	$1.35	37.83%
0U6R.L	Bunge Limited	2.86%	$3.05	31.37%
FBMS	The First Bancshares, Inc.	2.86%	$0.97	39.72%
RILYG	B. Riley Financial, Inc. 5.00% Senior Notes due 2026	2.86%	$0.58	56.91%
CNS	Cohen & Steers, Inc.	2.85%	$1.81	56.91%
MRBK	Meridian Corporation	2.85%	$0.49	27.85%
AMGN	Amgen Inc.	2.84%	$9.31	72.03%
BKH	Black Hills Corporation	2.84%	$1.98	50.60%
GABC	German American Bancorp, Inc.	2.84%	$1.11	40.35%
HOMB	Home Bancshares, Inc.	2.84%	$0.79	34.17%
KO	The Coca-Cola Company	2.84%	$1.96	65.04%
SBFG	SB Financial Group, Inc.	2.84%	$0.61	28.02%
TSBK	Timberland Bancorp, Inc.	2.84%	$1.00	27.24%
CATY	Cathay General Bancorp	2.83%	$1.38	31.20%
CWT	California Water Service Group	2.83%	$1.22	53.25%
EBIX	Ebix, Inc.	2.83%	$0.08	46.85%
CMS-PB	Consumers Energy Company	2.82%	$2.17	62.27%
EPRT	Essential Properties Realty Trust, Inc.	2.82%	$0.85	70.58%
GPK	Graphic Packaging Holding Company	2.82%	$0.43	24.85%
VALSX	Value Line Select Growth Fund	2.82%	$0.87	56.29%
CCNE	CNB Financial Corporation	2.81%	$0.72	35.05%
ORRF	Orrstown Financial Services, Inc.	2.81%	$0.98	26.05%
TXNM	TXNM Energy, Inc.	2.80%	$1.65	86.75%
STC	Stewart Information Services Corporation	2.79%	$1.95	54.56%
CVLY	Codorus Valley Bancorp, Inc.	2.77%	$0.67	28.98%
KKRS	KKR Group Finance Co. IX LLC 4.	2.77%	$0.49	7.61%
SHBI	Shore Bancshares, Inc.	2.77%	$0.48	28.28%
HNNA	Hennessy Advisors, Inc.	2.76%	$0.27	21.11%
HONE	HarborOne Bancorp, Inc.	2.76%	$0.33	51.05%
KMT	Kennametal Inc.	2.76%	$0.80	65.12%
PNM	PNM Resources, Inc.	2.76%	$1.12	57.65%
HWC	Hancock Whitney Corporation	2.75%	$1.77	31.35%
YOU	Clear Secure, Inc.	2.75%	$0.95	50.89%
0HE2.L	Ameren Corporation	2.74%	$2.78	53.51%
MTDR	Matador Resources Company	2.74%	$1.19	18.96%
OFG	OFG Bancorp	2.74%	$1.12	25.13%
VLO	Valero Energy Corporation	2.74%	$4.53	93.65%
YORW	The York Water Company	2.73%	$0.87	62.37%
CCZ	Comcast Holdings Corp.	2.72%	$1.63	26.92%
K	Kellanova	2.72%	$2.27	62.18%
ADT	ADT Inc.	2.71%	$0.22	29.95%
AVT	Avnet, Inc.	2.71%	$1.34	48.46%
BKU	BankUnited, Inc.	2.71%	$1.21	34.19%
CNOB	ConnectOne Bancorp, Inc.	2.71%	$0.71	48.64%
GBX	The Greenbrier Companies, Inc.	2.71%	$1.28	19.40%
PBHC	Pathfinder Bancorp, Inc.	2.71%	$0.38	26.39%
TRIN	Trinity Capital Inc.	2.71%	$0.41	20.50%
RILYN	B. Riley Financial, Inc. - 6.50	2.70%	$0.58	56.91%
0L5A.L	Sempra	2.69%	$2.41	72.79%

Financial Statements

Fundamentals

Valuations

Miscellaneous

Mode

Ticker

Industry

Sector

abrdn Asian Income Fund Limited (AAIF.L)

Valuation Snapshot

Dividend History & Growth Metrics (10Y)

Stable Growth Model (Adjusted)

Multi-Stage Model: Projections

Multi-Stage Valuation

High-Yield Dividend Screener