Definitive Analysis
Definitive Analysis

Financial Statements

Fundamentals

Valuations

Miscellaneous

Analysis Mode

Search

MFC Industrial Investment Property and Leasehold Fund (M-II.BK)

Company Dividend Discount ModelIndustry: Asset ManagementSector: Financial Services

Valuation Snapshot

Stable Growth$11.84 - $22.14$16.04
Multi-Stage$16.42 - $18.01$17.20
Blended Fair Value$16.62
Current Price$6.00
Upside177.02%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2023202220212020201920182017201620152014
DPS2.28%3.72%0.610.590.620.590.560.550.520.650.840.62
YoY Growth--2.69%-3.41%4.24%5.36%2.75%4.21%-19.50%-22.28%35.43%45.75%
Dividend Yield--10.80%8.08%7.99%8.14%8.00%6.41%6.19%6.91%9.04%6.17%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)135.46
(-) Cash Dividends Paid (M)60.20
(=) Cash Retained (M)75.26
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)27.0916.9310.16
Cash Retained (M)75.2675.2675.26
(-) Cash Required (M)-27.09-16.93-10.16
(=) Excess Retained (M)48.1758.3365.10
(/) Shares Outstanding (M)172.00172.00172.00
(=) Excess Retained per Share0.280.340.38
LTM Dividend per Share0.350.350.35
(+) Excess Retained per Share0.280.340.38
(=) Adjusted Dividend0.630.690.73
WACC / Discount Rate7.13%7.13%7.13%
Growth Rate1.72%2.72%3.72%
Fair Value$11.84$16.04$22.14
Upside / Downside97.35%167.38%269.06%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)135.46139.14142.92146.80150.79154.88159.53
Payout Ratio44.44%53.55%62.66%71.78%80.89%90.00%92.50%
Projected Dividends (M)60.2074.5189.56105.37121.97139.39147.56

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.13%7.13%7.13%
Growth Rate1.72%2.72%3.72%
Year 1 PV (M)68.8869.5670.23
Year 2 PV (M)76.5378.0479.56
Year 3 PV (M)83.2285.7088.23
Year 4 PV (M)89.0592.6196.26
Year 5 PV (M)94.0898.79103.70
PV of Terminal Value (M)2,412.682,533.632,659.39
Equity Value (M)2,824.442,958.333,097.38
Shares Outstanding (M)172.00172.00172.00
Fair Value$16.42$17.20$18.01
Upside / Downside173.69%186.66%200.13%

High-Yield Dividend Screener

« Prev Page 22 of 30 Next »
Ticker Company Dividend Yield % Dividend Per Share Payout Ratio %
0K58.LNOV Inc.1.29%$0.2015.83%
CONConcentra Group Holdings Parent, Inc.1.29%$0.2520.88%
CSGSCSG Systems International, Inc.1.28%$0.9832.90%
CSLCarlisle Companies Incorporated1.28%$4.2023.23%
JKHYJack Henry & Associates, Inc.1.28%$2.2934.69%
MSAMSA Safety Incorporated1.28%$2.0829.19%
PAHCPhibro Animal Health Corporation1.28%$0.4828.68%
WMGWarner Music Group Corp.1.28%$0.3961.67%
0K4C.LNRG Energy, Inc.1.27%$2.1028.38%
DCIDonaldson Company, Inc.1.27%$1.1435.14%
TEXTerex Corporation1.27%$0.7029.49%
BCCBoise Cascade Company1.26%$0.9318.09%
BCMLBayCom Corp1.25%$0.3616.94%
MSCIMSCI Inc.1.25%$7.0744.68%
PRMWPrimo Water Corporation1.25%$0.3561.28%
ESIElement Solutions Inc1.24%$0.3232.50%
LECOLincoln Electric Holdings, Inc.1.23%$3.0031.76%
MCRIMonarch Casino & Resort, Inc.1.23%$1.1826.69%
PBI-PBPitney Bowes Inc. NT 431.23%$0.2561.37%
RJFRaymond James Financial, Inc.1.23%$2.0119.48%
WFRDWeatherford International plc1.23%$1.0017.78%
AMPAmeriprise Financial, Inc.1.22%$6.0416.30%
BRCBrady Corporation1.22%$0.9623.25%
GCBCGreene County Bancorp, Inc.1.21%$0.2613.26%
RICKRCI Hospitality Holdings, Inc.1.21%$0.2815.00%
ABCAmerisourceBergen Corporation1.20%$2.2528.12%
EQBKEquity Bancshares, Inc.1.20%$0.5458.24%
HMNFHMN Financial, Inc.1.20%$0.3428.27%
IBPInstalled Building Products, Inc.1.20%$3.2234.18%
CHHChoice Hotels International, Inc.1.19%$1.1513.93%
EQCEquity Commonwealth1.19%$0.028.60%
FLSFlowserve Corporation1.19%$0.8424.35%
ICEIntercontinental Exchange, Inc.1.19%$1.9033.71%
LNNLindsay Corporation1.19%$1.4421.27%
INGMIngram Micro Holding Corporation1.18%$0.2520.42%
RBARB Global, Inc.1.18%$1.2252.13%
SEICSEI Investments Company1.18%$0.9817.66%
HEESH&E Equipment Services, Inc.1.17%$1.1144.29%
WSFSWSFS Financial Corporation1.17%$0.6413.17%
ASTEAstec Industries, Inc.1.16%$0.5224.84%
GFGDThe Growth for Good Acquisition Corporation1.16%$0.1242.35%
HUBGHub Group, Inc.1.16%$0.5028.58%
NWSNews Corporation1.16%$0.3516.79%
FCXFreeport-McMoRan Inc.1.15%$0.6041.87%
GFFGriffon Corporation1.15%$0.8677.66%
LHLabcorp Holdings Inc.1.15%$2.8928.24%
YAFIXAMG Funds - AMG Yacktman Focused Fund1.15%$0.2227.84%
0L1G.LSS&C Technologies Holdings, Inc.1.14%$0.9929.41%
0M29.LXylem Inc.1.14%$1.5640.08%
DHID.R. Horton, Inc.1.14%$1.6613.80%