Definitive Analysis
Definitive Analysis
Get Full Access
See Pricing Start Free Trial

John Hancock Preferred Income Fund II (HPF)

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

Valuation Snapshot

Stable Growth$25.20 - $36.09$30.53
Multi-Stage$44.28 - $48.47$46.33
Blended Fair Value$38.43
Current Price$16.04
Upside139.61%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2025202420232022202120202019201820172016
DPS-0.25%-1.39%1.441.431.431.431.441.461.621.641.641.65
YoY Growth--0.44%0.13%-0.21%-0.85%-0.74%-10.02%-1.32%0.11%-0.81%-0.15%
Dividend Yield--8.96%8.45%9.02%7.53%6.57%7.89%6.83%7.71%7.31%7.27%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)78.92
(-) Cash Dividends Paid (M)61.95
(=) Cash Retained (M)16.97
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)15.789.875.92
Cash Retained (M)16.9716.9716.97
(-) Cash Required (M)-15.78-9.87-5.92
(=) Excess Retained (M)1.197.1011.05
(/) Shares Outstanding (M)21.5921.5921.59
(=) Excess Retained per Share0.050.330.51
LTM Dividend per Share2.872.872.87
(+) Excess Retained per Share0.050.330.51
(=) Adjusted Dividend2.923.203.38
WACC / Discount Rate9.10%9.10%9.10%
Growth Rate-2.25%-1.25%-0.25%
Fair Value$25.20$30.53$36.09
Upside / Downside57.09%90.36%125.03%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)78.9277.9476.9776.0175.0674.1276.35
Payout Ratio78.50%80.80%83.10%85.40%87.70%90.00%92.50%
Projected Dividends (M)61.9562.9763.9664.9165.8366.7170.62

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.10%9.10%9.10%
Growth Rate-2.25%-1.25%-0.25%
Year 1 PV (M)57.1457.7258.31
Year 2 PV (M)52.6553.7454.83
Year 3 PV (M)48.4849.9951.52
Year 4 PV (M)44.6146.4748.38
Year 5 PV (M)41.0243.1645.39
PV of Terminal Value (M)712.15749.33788.04
Equity Value (M)956.061,000.401,046.47
Shares Outstanding (M)21.5921.5921.59
Fair Value$44.28$46.33$48.47
Upside / Downside176.06%188.86%202.17%

High-Yield Dividend Screener

« Prev Page 26 of 30 Next »
Ticker Company Dividend Yield % Dividend Per Share Payout Ratio %
ODFLOld Dominion Freight Line, Inc.0.69%$1.1022.00%
RRBIRed River Bancshares, Inc.0.69%$0.487.90%
SSDSimpson Manufacturing Co., Inc.0.69%$1.1413.76%
WCCWESCO International, Inc.0.69%$1.7513.38%
ALGAlamo Group Inc.0.68%$1.1511.96%
CBKCommercial Bancgroup, Inc. Common Stock0.68%$0.166.13%
IRMDIRadimed Corporation0.68%$0.6539.59%
UNFUniFirst Corporation0.68%$1.3216.37%
WTSWatts Water Technologies, Inc.0.68%$1.9019.65%
0HF3.LCencora0.67%$2.2528.12%
AITApplied Industrial Technologies, Inc.0.67%$1.7516.64%
CLMBClimb Global Solutions, Inc.0.67%$0.6814.50%
ASTHAstrana Health, Inc.0.66%$0.1786.52%
AVGOBroadcom Inc.0.66%$2.2848.18%
ENSEnerSys0.66%$0.9911.20%
HLIOHelios Technologies, Inc.0.66%$0.3635.50%
ICFIICF International, Inc.0.66%$0.5610.52%
VMCVulcan Materials Company0.66%$1.9322.82%
AAMEAtlantic American Corporation0.65%$0.027.99%
AMATApplied Materials, Inc.0.65%$1.7319.78%
CRMSalesforce, Inc.0.65%$1.6421.86%
GHCGraham Holdings Company0.65%$7.064.22%
LFACLF Capital Acquisition Corp. II0.65%$0.0724.33%
BSYBentley Systems, Incorporated0.64%$0.2530.41%
EHCEncompass Health Corporation0.64%$0.6812.77%
LADLithia Motors, Inc.0.64%$2.136.25%
PRBMParabellum Acquisition Corp.0.64%$0.065.11%
VRSNVeriSign, Inc.0.64%$1.5417.77%
AWIArmstrong World Industries, Inc.0.63%$1.2417.71%
ESQEsquire Financial Holdings, Inc.0.63%$0.6411.29%
SGISomnigroup International Inc0.63%$0.5637.60%
ULSUL Solutions Inc.0.63%$0.5130.38%
VMIValmont Industries, Inc.0.63%$2.5821.97%
ARCBArcBest Corporation0.62%$0.4811.39%
VVisa Inc.0.62%$2.1323.10%
LSXMAThe Liberty SiriusXM Group0.61%$0.141.73%
0J1R.LHCA Healthcare, Inc.0.60%$2.8110.70%
MPWRMonolithic Power Systems, Inc.0.60%$5.6614.34%
RXNZurn Water Solutions Corporation0.60%$0.3924.10%
0I47.LCostco Wholesale Corporation0.59%$5.0527.04%
DJCODaily Journal Corporation0.59%$2.954.20%
DRSLeonardo DRS, Inc.0.59%$0.2020.75%
FCNCAFirst Citizens BancShares, Inc.0.59%$12.697.01%
AMEAMETEK, Inc.0.58%$1.2019.00%
KLACKLA Corporation0.57%$7.2622.67%
SXIStandex International Corporation0.57%$1.2729.15%
RDVTRed Violet, Inc.0.56%$0.2937.32%
0IRE.LFortive Corporation0.55%$0.3016.72%
AIMCAltra Industrial Motion Corp.0.55%$0.3417.56%
BWXTBWX Technologies, Inc.0.55%$1.0029.87%