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

Invesco California Value Municipal Income Trust (VCV)

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

Valuation Snapshot

Stable Growth$5.26 - $7.00$6.16
Multi-Stage$11.21 - $12.34$11.76
Blended Fair Value$8.96
Current Price$11.09
Upside-19.19%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2025202420232022202120202019201820172016
DPS-5.66%-6.75%0.390.390.460.560.550.530.590.640.680.79
YoY Growth--1.92%-16.74%-17.19%2.19%4.07%-11.27%-7.66%-6.10%-13.67%0.18%
Dividend Yield--3.54%3.97%4.87%4.77%4.26%4.17%4.92%5.41%5.51%5.87%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)61.53
(-) Cash Dividends Paid (M)37.28
(=) Cash Retained (M)24.26
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)12.317.694.62
Cash Retained (M)24.2624.2624.26
(-) Cash Required (M)-12.31-7.69-4.62
(=) Excess Retained (M)11.9516.5719.64
(/) Shares Outstanding (M)47.8947.8947.89
(=) Excess Retained per Share0.250.350.41
LTM Dividend per Share0.780.780.78
(+) Excess Retained per Share0.250.350.41
(=) Adjusted Dividend1.031.121.19
WACC / Discount Rate9.08%9.08%9.08%
Growth Rate-8.75%-7.75%-6.75%
Fair Value$5.26$6.16$7.00
Upside / Downside-52.55%-44.42%-36.85%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)61.5356.7752.3748.3144.5741.1242.35
Payout Ratio60.58%66.46%72.35%78.23%84.12%90.00%92.50%
Projected Dividends (M)37.2837.7337.8937.8037.4937.0039.17

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.08%9.08%9.08%
Growth Rate-8.75%-7.75%-6.75%
Year 1 PV (M)34.2134.5934.96
Year 2 PV (M)31.1631.8432.54
Year 3 PV (M)28.1829.1230.08
Year 4 PV (M)25.3526.4827.65
Year 5 PV (M)22.6923.9625.29
PV of Terminal Value (M)395.09417.22440.33
Equity Value (M)536.69563.22590.85
Shares Outstanding (M)47.8947.8947.89
Fair Value$11.21$11.76$12.34
Upside / Downside1.05%6.05%11.25%

High-Yield Dividend Screener

« Prev Page 2 of 151 Next »
Ticker Company Dividend Yield % Dividend Per Share Payout Ratio %
0081.HKChina Overseas Grand Oceans Group Limited15.97%$0.3160.87%
QRF.BRQrf Comm. VA15.92%$1.6488.42%
INC-UN.TOIncome Financial Trust15.90%$1.4843.23%
QRI.AXQualitas Real Estate Income Fund15.90%$0.2594.00%
9172.KLFormosa Prosonic Industries Berhad15.89%$0.1872.55%
1099.HKSinopharm Group Co. Ltd.15.88%$3.1363.13%
XBBDC.MCBanco Bradesco S.A.15.82%$0.4623.31%
LPIN.JKPT Multi Prima Sejahtera Tbk15.59%$69.5396.86%
LFG.AXLiberty Financial Group Limited15.46%$0.6679.98%
ALPDX.PAPiscines Desjoyaux S.A.15.43%$2.0088.06%
2660.HKZengame Technology Holding Limited15.29%$0.3942.93%
CD3.AXCD Private Equity Fund III15.14%$0.1791.41%
PAGSPagSeguro Digital Ltd.15.12%$1.4619.46%
0912.HKSuga International Holdings Limited15.10%$0.1669.91%
RUI.PARubis15.03%$4.8772.73%
WAM.AXWAM Capital Limited15.01%$0.2767.95%
0113.HKDickson Concepts (International) Limited15.00%$0.8467.46%
0830.HKChina State Construction Development Holdings Limited14.96%$0.1834.59%
FFARM.ASForFarmers N.V.14.96%$0.6785.82%
BM.BKBangkok Sheet Metal Public Company Limited14.94%$0.1777.02%
DGS.TODividend Growth Split Corp.14.90%$1.1529.30%
6110.HKTopsports International Holdings Limited14.83%$0.4376.21%
GLB.AXGlobe International Limited14.83%$0.3872.14%
MOT.AXMetrics Income Opportunities Trust14.82%$0.2879.33%
CIQ-UN.TOCanadian High Income Equity Fund14.80%$1.0424.28%
BBVA.DEBanco Bilbao Vizcaya Argentaria, S.A.14.69%$0.6438.92%
601169.SSBank of Beijing Co., Ltd.14.63%$0.8064.51%
0184.HKKeck Seng Investments (Hong Kong) Limited14.62%$0.3123.90%
0881.HKZhongsheng Group Holdings Limited14.56%$1.7065.93%
6626.HKYuexiu Services Group Limited14.51%$0.3664.32%
ALNU.MEPJSC ALROSA-Nyurba14.51%$9,491.6654.89%
NONG.OLSpareBank 1 Nord-Norge14.36%$21.7372.60%
0640.HKInfinity Development Holdings Company Limited14.32%$0.3651.92%
2558.HKJinshang Bank Co., Ltd.14.28%$0.2031.14%
0270.HKGuangdong Investment Limited14.27%$0.9899.44%
0517.HKCOSCO SHIPPING International (Hong Kong) Co., Ltd.14.01%$0.8888.71%
2560.HKAnhui Conch Material Technology Co Ltd14.01%$0.2449.79%
WTCM.MEJoint Stock Company "World Trade Center Moscow"13.98%$1.9924.33%
6186.HKChina Feihe Limited13.94%$0.5681.20%
601186.SSChina Railway Construction Corporation Limited13.92%$1.0764.40%
CFEB.BRCompagnie d'Entreprises CFE S.A.13.92%$1.2171.32%
PMV.AXPremier Investments Limited13.92%$1.9251.67%
601229.SSBank of Shanghai Co., Ltd.13.82%$1.4093.74%
2120.HKWenzhou Kangning Hospital Co., Ltd.13.78%$1.3769.01%
DLNGDynagas LNG Partners LP13.72%$0.5131.08%
MXT.AXMetrics Master Income Trust13.71%$0.2785.17%
0085.HKChina Electronics Huada Technology Company Limited13.70%$0.1947.52%
0046.HKComputer And Technologies Holdings Limited13.69%$0.2285.50%
601328.SSBank of Communications Co., Ltd.13.66%$0.9992.22%
AKER.OLAker ASA13.66%$106.4372.10%