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

Dah Sing Banking Group Limited (2356.HK)

Company Dividend Discount ModelIndustry: Banks - RegionalSector: Financial Services

Valuation Snapshot

Stable Growth$95.36 - $420.02$166.15
Multi-Stage$75.23 - $82.36$78.73
Blended Fair Value$122.44
Current Price$9.09
Upside1,246.95%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS9.63%8.41%0.760.400.340.320.430.480.440.390.370.37
YoY Growth--90.00%17.65%6.25%-25.58%-10.42%9.17%12.91%5.49%0.04%8.85%
Dividend Yield--9.27%8.03%6.07%4.80%5.40%4.61%3.18%2.27%2.59%2.69%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)4,387.58
(-) Cash Dividends Paid (M)1,807.13
(=) Cash Retained (M)2,580.45
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)877.52548.45329.07
Cash Retained (M)2,580.452,580.452,580.45
(-) Cash Required (M)-877.52-548.45-329.07
(=) Excess Retained (M)1,702.932,032.002,251.38
(/) Shares Outstanding (M)1,405.751,405.751,405.75
(=) Excess Retained per Share1.211.451.60
LTM Dividend per Share1.291.291.29
(+) Excess Retained per Share1.211.451.60
(=) Adjusted Dividend2.502.732.89
WACC / Discount Rate7.01%7.01%7.01%
Growth Rate4.28%5.28%6.28%
Fair Value$95.36$166.15$420.02
Upside / Downside949.07%1,727.81%4,520.66%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)4,387.584,619.364,863.385,120.295,390.785,675.555,845.82
Payout Ratio41.19%50.95%60.71%70.47%80.24%90.00%92.50%
Projected Dividends (M)1,807.132,353.562,952.683,608.534,325.435,108.005,407.38

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.01%7.01%7.01%
Growth Rate4.28%5.28%6.28%
Year 1 PV (M)2,178.432,199.322,220.21
Year 2 PV (M)2,529.602,578.352,627.56
Year 3 PV (M)2,861.442,944.553,029.25
Year 4 PV (M)3,174.693,298.223,425.33
Year 5 PV (M)3,470.093,639.693,815.86
PV of Terminal Value (M)91,535.9396,009.75100,656.81
Equity Value (M)105,750.18110,669.88115,775.03
Shares Outstanding (M)1,405.751,405.751,405.75
Fair Value$75.23$78.73$82.36
Upside / Downside727.58%766.08%806.03%

High-Yield Dividend Screener

« Prev Page 2 of 30 Next »
Ticker Company Dividend Yield % Dividend Per Share Payout Ratio %
GHYPGIM Global High Yield Fund, Inc15.29%$1.8962.38%
BGRBlackRock Energy and Resources Trust15.26%$2.1298.26%
BOEBlackRock Enhanced Global Dividend Trust15.09%$1.7867.28%
FENFirst Trust Energy Income and Growth Fund15.00%$2.4049.79%
SOJESouthern Company (The) Series 214.95%$2.6967.01%
PSFCohen & Steers Select Preferred and Income Fund, Inc.14.84%$3.0256.28%
EVGEaton Vance Short Duration Diversified Income Fund14.82%$1.6271.62%
LDPCohen & Steers Limited Duration Preferred and Income Fund, Inc.14.73%$3.1554.69%
DNPDNP Select Income Fund Inc.14.64%$1.4553.01%
JRSNuveen Real Estate Income Fund14.56%$1.1189.79%
DPGDuff & Phelps Utility and Infrastructure Fund Inc.14.47%$1.8654.60%
BSTBlackRock Science and Technology Trust14.42%$5.8646.91%
MPAIXMorgan Stanley Insti Fd Advantage Portfolio Cl I14.33%$4.0043.20%
JCAPJefferson Capital, Inc. Common Stock14.11%$3.1245.65%
PHTPioneer High Income Fund, Inc.13.99%$1.1961.96%
RZC7.125% Fixed-Rate Reset Subordinated Debentures due 205213.93%$3.5527.34%
RNPCohen & Steers REIT and Preferred Income Fund, Inc.13.88%$2.7761.92%
DOMHDominari Holdings Inc.13.87%$0.7010.86%
STT-PDState Street Corporation13.86%$3.4633.48%
FCTFirst Trust Senior Floating Rate Income Fund II13.80%$1.3867.42%
VIRTVirtu Financial, Inc.13.57%$4.4389.50%
DHFBNY Mellon High Yield Strategies Fund13.55%$0.3461.16%
JHIJohn Hancock Investors Trust13.15%$1.7974.97%
AIOVirtus Artificial Intelligence & Technology Opportunities Fund12.91%$2.8238.01%
UTFCohen & Steers Infrastructure Fund, Inc12.84%$3.1453.56%
DFPFlaherty & Crumrine Dynamic Preferred and Income Fund Inc.12.81%$2.6848.05%
WEAWestern Asset Premier Bond Fund12.81%$1.4380.16%
TPZTortoise Essential Energy Fund12.76%$2.6467.76%
FTFranklin Universal Trust12.72%$1.0256.42%
CSQCalamos Strategic Total Return Fund12.70%$2.4351.10%
HYBThe New America High Income Fund Inc.12.68%$1.0463.42%
NBBNuveen Taxable Municipal Income Fund12.66%$2.0085.04%
RWAYRunway Growth Finance Corp.12.66%$1.1475.51%
ELVTElevate Credit, Inc.12.61%$0.2475.91%
NDPTortoise Energy Independence Fund, Inc.12.60%$5.0986.32%
BCEICivitas Resources, Inc.12.58%$7.0698.41%
GENVRGen Digital Inc. Contingent Value Rights12.54%$0.5054.91%
SOJCThe Southern Company JR 2017B NT 7712.31%$2.6967.01%
BTOJohn Hancock Financial Opportunities Fund12.25%$4.3229.72%
FEIFirst Trust MLP and Energy Income Fund12.21%$1.2058.56%
PCNPIMCO Corporate & Income Strategy Fund12.19%$1.5568.95%
HTDJohn Hancock Tax-Advantaged Dividend Income Fund12.17%$2.9051.08%
NIEVirtus Equity & Convertible Income Fund12.17%$3.0445.26%
PFDFlaherty & Crumrine Preferred Income Fund Inc.11.99%$1.4348.51%
TYGTortoise Energy Infrastructure Corporation11.98%$4.9643.95%
FPLFirst Trust New Opportunities MLP & Energy Fund11.82%$0.9254.20%
BTZBlackRock Credit Allocation Income Trust11.69%$1.2692.75%
BHBFXMadison Dividend Income Fd Cl Y11.61%$2.8540.22%
CGABLThe Carlyle Group Inc. 4.625% Subordinated Notes due 206111.57%$2.0197.92%
DBLDoubleLine Opportunistic Credit Fund11.57%$1.7652.03%