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

First Trust Intermediate Duration Preferred & Income Fund (FPF)

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

Valuation Snapshot

Stable Growth$26.46 - $37.06$31.74
Multi-Stage$49.12 - $53.84$51.43
Blended Fair Value$41.59
Current Price$17.62
Upside136.02%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS-0.93%-1.61%1.621.311.501.531.591.701.771.891.952.10
YoY Growth--23.66%-12.66%-1.85%-3.76%-6.47%-3.95%-6.35%-3.01%-7.44%10.29%
Dividend Yield--8.63%9.21%9.15%6.04%7.36%7.05%8.64%7.61%8.59%9.58%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)265.47
(-) Cash Dividends Paid (M)188.02
(=) Cash Retained (M)77.45
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)53.0933.1819.91
Cash Retained (M)77.4577.4577.45
(-) Cash Required (M)-53.09-33.18-19.91
(=) Excess Retained (M)24.3544.2657.54
(/) Shares Outstanding (M)60.8560.8560.85
(=) Excess Retained per Share0.400.730.95
LTM Dividend per Share3.093.093.09
(+) Excess Retained per Share0.400.730.95
(=) Adjusted Dividend3.493.824.04
WACC / Discount Rate9.10%9.10%9.10%
Growth Rate-3.61%-2.61%-1.61%
Fair Value$26.46$31.74$37.06
Upside / Downside50.18%80.14%110.35%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)265.47258.53251.77245.18238.77232.53239.51
Payout Ratio70.83%74.66%78.50%82.33%86.17%90.00%92.50%
Projected Dividends (M)188.02193.02197.63201.86205.74209.28221.54

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.10%9.10%9.10%
Growth Rate-3.61%-2.61%-1.61%
Year 1 PV (M)175.10176.92178.74
Year 2 PV (M)162.65166.04169.47
Year 3 PV (M)150.71155.45160.29
Year 4 PV (M)139.35145.23151.29
Year 5 PV (M)128.59135.41142.50
PV of Terminal Value (M)2,232.402,350.642,473.83
Equity Value (M)2,988.823,129.693,276.11
Shares Outstanding (M)60.8560.8560.85
Fair Value$49.12$51.43$53.84
Upside / Downside178.77%191.91%205.57%

High-Yield Dividend Screener

« Prev Page 23 of 151 Next »
Ticker Company Dividend Yield % Dividend Per Share Payout Ratio %
002293.SZLuolai Lifestyle Technology Co., Ltd.5.90%$0.6198.42%
KLBN11.SAKlabin S.A.5.90%$1.1379.59%
T9Z.DEZumtobel Group AG5.89%$0.2568.81%
4006.KLOriental Holdings Berhad5.88%$0.4091.37%
7231.KLWellcall Holdings Berhad5.88%$0.0898.90%
ALBAV.HEÅlandsbanken Abp5.88%$2.8380.11%
HSPG.OLHøland og Setskog Sparebank5.88%$9.009.64%
TAEE3.SATransmissora Aliança de Energia Elétrica S.A.5.88%$0.8249.16%
095570.KSAJ Networks Co.,Ltd.5.87%$269.8946.78%
CONSTI.HEConsti Oyj5.87%$0.6379.88%
DEDI.STDedicare AB (publ)5.87%$2.5059.86%
SUC.BKSaha-Union Public Company Limited5.87%$1.6026.76%
0QQF.LMikron Holding AG5.85%$1.2032.60%
0RNX.LAmbea AB (publ)5.85%$2.1927.21%
3459.TSamty Residential Investment Corporation5.85%$6,816.2884.59%
PLAT.ATThrace Plastics Holding Company S.A.5.85%$0.2485.91%
7229.KLFavelle Favco Berhad5.84%$0.0931.57%
M-II.BKMFC Industrial Investment Property and Leasehold Fund5.83%$0.3544.44%
NOHO.HENoHo Partners Oyj5.83%$0.4829.48%
0QN7.LVaudoise Assurances Holding S.A.5.82%$42.4142.05%
4164.SRNahdi Medical Company5.81%$5.6089.58%
5511.TWOTe Chang Construction Co., Ltd.5.81%$3.7946.23%
PPA.ATPiraeus Port Authority S.A.5.81%$2.3838.50%
WHA-R.BKWHA Corporation Public Company Limited5.81%$0.1957.71%
MULTI.OLMulticonsult ASA5.80%$10.1891.58%
QIMD.QAQatar Industrial Manufacturing Company Q.P.S.C.5.80%$0.1448.99%
000791.SZGEPIC Energy Development Co., Ltd.5.79%$0.3746.47%
0NFS.LEsprinet S.p.A.5.79%$0.3693.72%
MYS.AXMyState Limited5.79%$0.2670.40%
5299.TWOExcelliance MOS Corporation5.78%$4.1493.57%
8987.TJapan Excellent, Inc.5.78%$8,618.1168.54%
9528.SRGas Arabian Services Company5.78%$0.9877.70%
PLS.AXPLS Group Limited5.78%$0.2556.17%
1104.HKAPAC Resources Limited5.77%$0.1533.87%
9525.SRAlwasail Industrial Company5.77%$0.2085.38%
CBA.AXCommonwealth Bank of Australia5.77%$9.3079.76%
GSLGlobal Ship Lease, Inc.5.77%$2.0117.72%
5138.KLHap Seng Plantations Holdings Berhad5.76%$0.1355.68%
601088.SSChina Shenhua Energy Company Limited5.76%$2.3381.35%
ALI.AXArgo Global Listed Infrastructure Limited5.76%$0.1510.56%
000755.SZShanxi Hi-speed Group Co., Ltd.5.75%$0.2989.22%
EELT.MEEuropean Eltech Public Joint Stock Company5.75%$0.5236.41%
1846.HKEuroEyes International Eye Clinic Limited5.74%$0.1729.90%
9296.KLRCE Capital Berhad5.74%$0.0692.92%
BELA.ATJumbo S.A.5.74%$1.6068.01%
GRP-UNGranite Real Estate Investment Trust5.74%$3.4071.71%
6199.HKBank of Guizhou Co., Ltd.5.73%$0.0624.27%
6581.TWTaiwan Steel Union Co., Ltd5.73%$5.9988.31%
HAIS.JKPT Hasnur Internasional Shipping Tbk5.73%$15.3740.52%
HTSC.LHuatai Securities Co., Ltd.5.73%$1.2668.65%