Definitive Analysis
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 24 of 151 Next »
Ticker Company Dividend Yield % Dividend Per Share Payout Ratio %
NDA-FI.HENordea Bank Abp5.73%$0.9467.38%
RBF.BKR&B Food Supply Public Company Limited5.73%$0.1781.37%
1882.HKHaitian International Holdings Limited5.72%$1.2733.58%
3339.HKLonking Holdings Limited5.72%$0.1736.46%
4126.TWOPacific Hospital Supply Co., Ltd5.72%$4.8486.09%
SLFSun Life Financial Inc.5.72%$3.6065.58%
0QKD.LForbo Holding AG5.71%$50.0340.66%
IPE.WAIPOPEMA Securities S.A.5.71%$0.2368.17%
SNOR.OLSpareBank 1 Nordmøre5.71%$10.0420.14%
3705.TWYungShin Global Holding Corporation5.70%$3.2590.33%
MST.BKMaybank Securities (Thailand) Public Company Limited5.70%$0.3875.36%
3462.TNomura Real Estate Master Fund, Inc.5.69%$9,849.8672.94%
CHILE.SNBanco de Chile5.69%$9.8578.63%
RSUL4.SAMetalúrgica Riosulense S.A.5.69%$3.9836.85%
600007.SSChina World Trade Center Co., Ltd.5.68%$1.1395.72%
AURG.OLAurskog Sparebank5.68%$15.0028.30%
BPO-PT.TOBrookfield Office Properties Inc5.68%$1.1634.59%
KTY.WAGrupa Kety S.A.5.68%$52.8592.39%
PREB.BKPre-Built Public Company Limited5.68%$0.2076.14%
3213.TWOMildef Crete Inc.5.67%$5.9677.23%
NAB.AXNational Australia Bank Limited5.67%$2.4066.40%
3282.TComforia Residential REIT, Inc5.66%$18,861.6284.64%
DTEL.BRDeutsche Telekom AG5.66%$1.1349.89%
HELG.OLSpareBank 1 Helgeland5.66%$10.3551.40%
SITHAI.BKSrithai Superware Public Company Limited5.66%$0.0697.25%
002884.SZGuangdong Lingxiao Pump Industry Co.,Ltd.5.65%$1.0077.13%
1535.TWChina Ecotek Corporation5.65%$2.9975.30%
8960.TUnited Urban Investment Corporation5.65%$10,346.6368.81%
SIILI.HESiili Solutions Oyj5.65%$0.2640.06%
AVEN.STAvensia AB (publ)5.64%$0.5078.26%
RPH.BKRatchaphruek Hospital Public Company Limited5.64%$0.2885.55%
1702.HKDongguang Chemical Limited5.63%$0.1123.80%
601033.SSGrandtop Yongxing Group Co., Ltd.5.63%$0.8583.54%
601398.SSIndustrial & Commercial Bank of China Ltd.5.63%$0.4543.37%
JDF.BKJD Food Public Company Limited5.63%$0.0852.54%
024110.KSIndustrial Bank of Korea5.62%$1,165.3436.50%
DHBK.QADoha Bank Q.P.S.C.5.62%$0.1655.17%
0667.HKChina East Education Holdings Limited5.61%$0.3885.28%
0807.HKSIIC Environment Holdings Ltd.5.61%$0.0625.08%
EKH.BKEkachai Medical Care Public Company Limited5.61%$0.2891.43%
HIFA-B.STHifab Group AB (publ.)5.61%$0.1742.74%
KCAR.BKKrungthai Car Rent and Lease Public Company Limited5.61%$0.3043.66%
000987.SZGuangzhou Yuexiu Financial Holdings Group Co., Ltd.5.60%$0.4663.54%
0VCO.LPeyto Exploration & Development Corp.5.60%$1.2970.79%
1537.TWKung Long Batteries Industrial Co.,Ltd5.60%$7.0072.79%
DVR.AXDiverger Limited5.60%$0.0769.90%
SECURE.BKnForce Secure Public Company Limited5.60%$0.7053.33%
029960.KQKorea Environment Technology Co., Ltd.5.59%$499.3892.03%
2057.HKZTO Express (Cayman) Inc.5.59%$9.3186.81%
3468.TStar Asia Investment Corporation5.59%$3,448.1578.34%