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

First Trust Intermediate Duration Preferred & Income Fund (FPF)

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

Valuation Snapshot

Stable Growth$26.50 - $37.13$31.79
Multi-Stage$49.26 - $54.00$51.59
Blended Fair Value$41.69
Current Price$17.62
Upside136.60%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS-0.93%-1.61%1.621.311.501.531.591.701.771.891.952.10
YoY Growth--23.66%-12.66%-1.85%-3.76%-6.47%-3.95%-6.35%-3.01%-7.44%10.29%
Dividend Yield--8.63%9.21%9.15%6.04%7.36%7.05%8.64%7.61%8.59%9.58%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)265.47
(-) Cash Dividends Paid (M)188.02
(=) Cash Retained (M)77.45
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)53.0933.1819.91
Cash Retained (M)77.4577.4577.45
(-) Cash Required (M)-53.09-33.18-19.91
(=) Excess Retained (M)24.3544.2657.54
(/) Shares Outstanding (M)60.8560.8560.85
(=) Excess Retained per Share0.400.730.95
LTM Dividend per Share3.093.093.09
(+) Excess Retained per Share0.400.730.95
(=) Adjusted Dividend3.493.824.04
WACC / Discount Rate9.08%9.08%9.08%
Growth Rate-3.61%-2.61%-1.61%
Fair Value$26.50$31.79$37.13
Upside / Downside50.40%80.41%110.70%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)265.47258.53251.77245.18238.77232.53239.51
Payout Ratio70.83%74.66%78.50%82.33%86.17%90.00%92.50%
Projected Dividends (M)188.02193.02197.63201.86205.74209.28221.54

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.08%9.08%9.08%
Growth Rate-3.61%-2.61%-1.61%
Year 1 PV (M)175.13176.95178.77
Year 2 PV (M)162.70166.09169.52
Year 3 PV (M)150.79155.53160.37
Year 4 PV (M)139.45145.32151.39
Year 5 PV (M)128.70135.52142.62
PV of Terminal Value (M)2,240.862,359.542,483.20
Equity Value (M)2,997.633,138.963,285.87
Shares Outstanding (M)60.8560.8560.85
Fair Value$49.26$51.59$54.00
Upside / Downside179.59%192.78%206.48%

High-Yield Dividend Screener

« Prev Page 16 of 151 Next »
Ticker Company Dividend Yield % Dividend Per Share Payout Ratio %
0ELV.LGuerbet S.A.7.06%$1.0131.15%
215000.KQGOLFZON Co., Ltd.7.05%$3,999.3763.09%
HLAG.DEHapag-Lloyd AG7.05%$8.2861.62%
XVALO.MCVale S.A.7.05%$0.8162.96%
0GN6.LArgan S.A.7.04%$4.6130.62%
RIGD.ILReliance Industries Limited7.04%$5.008.14%
600098.SSGuangzhou Development Group Incorporated7.03%$0.4669.93%
SORKON.BKS. Khonkaen Foods Public Company Limited7.03%$0.2571.33%
Z74.SISingapore Telecommunications Limited7.03%$0.3287.72%
603995.SSYongjin Technology Group Co., Ltd.7.02%$1.2769.10%
6671.TWSan Neng Group Holdings Co., Ltd.7.02%$2.5194.63%
KPN.ASKoninklijke KPN N.V.7.02%$0.2869.30%
NNCL.BKNava Nakorn Public Company Limited7.02%$0.1182.26%
TEGH.BKThai Eastern Group Holdings Public Company Limited7.02%$0.2137.13%
ASTAK.ATAlpha Real Estate S.a.7.01%$0.5252.38%
INETREIT.BKINET Freehold and Leasehold Real Estate Investment Trust7.01%$0.8045.08%
ABTG.MIAlfio Bardolla Training Group S.p.A.7.00%$0.1235.81%
MMB.PALagardere S.A.7.00%$1.3164.26%
0010.HKHang Lung Group Limited6.99%$1.0742.37%
0RP0.LTikehau Capital6.99%$1.1166.15%
1066.HKShandong Weigao Group Medical Polymer Company Limited6.99%$0.3541.33%
CAT31.PACaisse Regionale de Credit Agricole Mutuel Toulouse 316.99%$7.4918.27%
037710.KSGwangju Shinsegae. Co. ,Ltd.6.98%$2,199.7640.80%
AP-R.BKAP (Thailand) Public Company Limited6.98%$0.6040.92%
EASON.BKEason & Co Public Company Limited6.97%$0.0860.98%
KENKenon Holdings Ltd.6.97%$4.7154.85%
015860.KSILJIN Holdings Co., Ltd.6.96%$474.0952.60%
3808.HKSinotruk (Hong Kong) Limited6.96%$1.9343.31%
603801.SSZbom Home Collection Co.,Ltd6.96%$0.6494.30%
WOMF.JKPT Wahana Ottomitra Multiartha Tbk6.96%$22.5631.36%
601225.SSShaanxi Coal Industry Company Limited6.95%$1.4875.05%
LOG.MCLogista Integral, S.A.6.95%$2.0980.25%
VCX.AXVicinity Centres6.95%$0.1852.81%
0QME.LOrell Füssli AG6.94%$8.3058.10%
3470.TMarimo Regional Revitalization REIT, Inc.6.94%$7,579.0662.91%
ARROW.BKArrow Syndicate Public Company Limited6.93%$0.3569.42%
003690.KSKorean Reinsurance Company6.92%$797.5138.80%
3279.TActivia Properties Inc.6.92%$9,742.1289.07%
IL0A.IRPermanent TSB Group Holdings plc6.92%$0.1639.09%
S41.SIHong Leong Finance Limited6.92%$0.1875.53%
SECURITY.SNGrupo Security S.A.6.92%$23.1197.85%
2377.HKChina Boqi Environmental (Holding) Co., Ltd.6.91%$0.0712.31%
601991.SSDatang International Power Generation Co., Ltd.6.91%$0.2465.75%
ALPJT.PAPoujoulat S.A.6.91%$0.5236.16%
AZM.MIAzimut Holding S.p.A.6.91%$2.4771.18%
PPF.BKPinthong Industrial Park Property Fund6.91%$0.7581.09%
BOLSAA.MXBolsa Mexicana de Valores, S.A.B. de C.V.6.90%$2.5984.50%
HYDRA.ASHydratec Industries N.V.6.90%$12.0839.09%
0O6D.LMiquel y Costas & Miquel, S.A.6.89%$1.0041.40%
0QO6.LJulius Bär Gruppe AG6.89%$3.9199.57%