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

Vicinity Centres (VCX.AX)

Company Dividend Discount ModelIndustry: REIT - RetailSector: Real Estate

Valuation Snapshot

Stable Growth$3.81 - $6.25$4.90
Multi-Stage$7.08 - $7.78$7.42
Blended Fair Value$6.16
Current Price$2.47
Upside149.41%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2025202420232022202120202019201820172016
DPS-2.61%5.77%0.110.120.110.110.030.130.140.140.150.15
YoY Growth---6.30%5.66%1.36%232.24%-73.73%-5.29%-4.88%-6.13%1.72%132.48%
Dividend Yield--4.58%6.42%6.17%6.12%2.19%9.03%5.47%5.53%5.94%4.52%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)1,551.70
(-) Cash Dividends Paid (M)819.40
(=) Cash Retained (M)732.30
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)310.34193.96116.38
Cash Retained (M)732.30732.30732.30
(-) Cash Required (M)-310.34-193.96-116.38
(=) Excess Retained (M)421.96538.34615.92
(/) Shares Outstanding (M)4,565.364,565.364,565.36
(=) Excess Retained per Share0.090.120.13
LTM Dividend per Share0.180.180.18
(+) Excess Retained per Share0.090.120.13
(=) Adjusted Dividend0.270.300.31
WACC / Discount Rate6.79%6.79%6.79%
Growth Rate-0.32%0.68%1.68%
Fair Value$3.81$4.90$6.25
Upside / Downside54.29%98.33%153.17%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)1,551.701,562.241,572.851,583.531,594.281,605.111,653.26
Payout Ratio52.81%60.25%67.68%75.12%82.56%90.00%92.50%
Projected Dividends (M)819.40941.171,064.561,189.591,316.261,444.601,529.27

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.79%6.79%6.79%
Growth Rate-0.32%0.68%1.68%
Year 1 PV (M)872.57881.32890.08
Year 2 PV (M)915.02933.47952.11
Year 3 PV (M)947.95976.761,006.16
Year 4 PV (M)972.431,012.041,052.85
Year 5 PV (M)989.451,040.081,092.77
PV of Terminal Value (M)27,627.8829,041.8130,513.05
Equity Value (M)32,325.2933,885.4935,507.01
Shares Outstanding (M)4,565.364,565.364,565.36
Fair Value$7.08$7.42$7.78
Upside / Downside186.66%200.50%214.88%

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%