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

Pioneer High Income Fund, Inc. (PHT)

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

Valuation Snapshot

Stable Growth$9.57 - $13.03$11.33
Multi-Stage$19.07 - $20.95$19.99
Blended Fair Value$15.66
Current Price$7.74
Upside102.32%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2025202420232022202120202019201820172016
DPS-3.94%-8.33%0.660.720.780.830.830.810.780.780.921.33
YoY Growth---8.33%-7.99%-5.58%-0.37%3.09%3.18%0.64%-15.97%-30.21%-15.87%
Dividend Yield--8.53%9.40%11.80%10.21%8.88%12.57%8.66%8.35%9.37%13.20%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)56.12
(-) Cash Dividends Paid (M)34.77
(=) Cash Retained (M)21.35
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)11.227.024.21
Cash Retained (M)21.3521.3521.35
(-) Cash Required (M)-11.22-7.02-4.21
(=) Excess Retained (M)10.1314.3417.14
(/) Shares Outstanding (M)29.3429.3429.34
(=) Excess Retained per Share0.350.490.58
LTM Dividend per Share1.191.191.19
(+) Excess Retained per Share0.350.490.58
(=) Adjusted Dividend1.531.671.77
WACC / Discount Rate9.10%9.10%9.10%
Growth Rate-5.94%-4.94%-3.94%
Fair Value$9.57$11.33$13.03
Upside / Downside23.64%46.40%68.39%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)56.1253.3550.7148.2145.8243.5644.87
Payout Ratio61.96%67.56%73.17%78.78%84.39%90.00%92.50%
Projected Dividends (M)34.7736.0437.1137.9838.6739.2041.50

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.10%9.10%9.10%
Growth Rate-5.94%-4.94%-3.94%
Year 1 PV (M)32.6933.0433.39
Year 2 PV (M)30.5231.1831.84
Year 3 PV (M)28.3329.2530.18
Year 4 PV (M)26.1727.3028.46
Year 5 PV (M)24.0625.3726.73
PV of Terminal Value (M)417.66440.34464.00
Equity Value (M)559.44586.47614.59
Shares Outstanding (M)29.3429.3429.34
Fair Value$19.07$19.99$20.95
Upside / Downside146.33%158.24%170.62%

High-Yield Dividend Screener

« Prev Page 21 of 151 Next »
Ticker Company Dividend Yield % Dividend Per Share Payout Ratio %
SFLEX.BKStarflex Public Company Limited6.18%$0.1957.09%
SSP-R.BKSermsang Power Corporation Public Company Limited6.18%$0.2038.47%
002960.KSHankook Shell Oil Co.,Ltd.6.17%$27,000.0086.18%
ANHYT.ISAnadolu Hayat Emeklilik Anonim Sirketi6.17%$6.0047.92%
ARCAD.ASArcadis N.V.6.17%$2.2052.16%
BPFI.JKPT Woori Finance Indonesia Tbk6.17%$19.6167.05%
CSW-A.TOCorby Spirit and Wine Limited6.17%$0.9191.53%
2357.HKAviChina Industry & Technology Company Limited6.16%$0.2650.61%
5465.TWOLoyalty Founder Enterprise Co.,Ltd.6.16%$1.8096.24%
600873.SSMeiHua Holdings Group Co.,Ltd6.16%$0.6246.40%
REACH.OLReach Subsea ASA6.16%$0.4257.18%
600982.SSNingbo Energy Group Co.,Ltd.6.15%$0.2790.53%
AXIO.JKPT Tera Data Indonusa Tbk6.15%$8.0082.23%
HARN.BKHarn Engineering Solutions Public Company Limited6.15%$0.1286.99%
NET-UN.VCanadian Net Real Estate Investment Trust6.15%$0.3552.87%
PARKEN.COPARKEN Sport & Entertainment A/S6.15%$9.2387.46%
300720.KSHanil Cement Co., Ltd.6.14%$1,056.6378.51%
N0Z.SICombine Will International Holdings Limited6.14%$0.086.18%
WHAUP-R.BKWHA Utilities and Power Public Company Limited6.14%$0.2688.80%
007340.KSDN Automotive Corporation6.13%$1,446.0030.12%
0RGB.LInvestment AB Öresund (publ)6.13%$7.2483.15%
1604.TWSampo Corporation6.13%$1.4985.47%
2850.TWShinkong Insurance Co., Ltd.6.13%$7.1464.89%
5520.TWOLih Tai Construction Enterprise Co., Ltd.6.13%$5.4754.22%
600000.SSShanghai Pudong Development Bank Co., Ltd.6.13%$0.7647.27%
CMOCTEZ.MXCorporación Moctezuma, S.A.B. de C.V.6.13%$5.0369.41%
GPROFUT.MXGrupo Profuturo, S.A.B. de C.V.6.13%$7.3555.28%
006060.KSHWASEUNG Industries Co.,Ltd.6.12%$220.7748.43%
ALUCON.BKAlucon Public Company Limited6.12%$12.0049.20%
TLKM.JKPerusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk6.12%$212.4696.73%
5863.TWOTaipei Star Bank6.11%$0.7350.01%
6959.HKChangjiu Holdings Limited6.11%$0.3926.88%
AMUN.PAAmundi S.A.6.11%$4.3532.56%
OEWA.DEVerbund AG6.11%$3.8378.19%
9951.TWOMacauto Industrial Co., Ltd.6.10%$3.3982.90%
0QOQ.LPartners Group Holding AG6.09%$59.8683.68%
1086.HKGoodbaby International Holdings Limited6.09%$0.0718.25%
2161.HKJBM (Healthcare) Limited6.09%$0.1634.56%
600866.SSStar Lake Bioscience Co., Inc.Zhaoqing Guangdong6.08%$0.4254.80%
6419.TMars Group Holdings Corporation6.08%$194.7249.68%
BNSThe Bank of Nova Scotia6.08%$4.5372.38%
0101.HKHang Lung Properties Limited6.07%$0.5354.73%
3295.THulic Reit, Inc.6.07%$10,716.7069.01%
TGKA.JKPT Tigaraksa Satria Tbk6.07%$300.0071.55%
2836.KLCarlsberg Brewery Malaysia Berhad6.06%$1.0186.19%
002966.SZBank of Suzhou Co., Ltd.6.05%$0.5041.79%
019440.KSSeAH SPECIALSTEEL Co. Ltd.6.05%$1,001.3064.69%
2832.TWTaiwan Fire & Marine Insurance Co., Ltd.6.05%$3.0565.35%
BHP.AXBHP Group Limited6.05%$2.7783.22%
PGF.AXPM Capital Global Opportunities Fund Limited6.05%$0.1837.96%