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

First Trust Senior Floating Rate Income Fund II (FCT)

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

Valuation Snapshot

Stable Growth$11.57 - $16.65$14.05
Multi-Stage$19.79 - $21.68$20.72
Blended Fair Value$17.38
Current Price$9.91
Upside75.41%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2025202420232022202120202019201820172016
DPS3.90%3.05%0.930.930.710.781.000.770.600.630.680.72
YoY Growth--0.00%31.30%-8.55%-22.58%30.22%29.07%-4.86%-7.78%-6.10%4.86%
Dividend Yield--9.40%8.89%7.42%7.11%8.02%6.94%4.97%4.82%4.99%5.54%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)53.10
(-) Cash Dividends Paid (M)35.80
(=) Cash Retained (M)17.30
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)10.626.643.98
Cash Retained (M)17.3017.3017.30
(-) Cash Required (M)-10.62-6.64-3.98
(=) Excess Retained (M)6.6810.6613.32
(/) Shares Outstanding (M)32.4832.4832.48
(=) Excess Retained per Share0.210.330.41
LTM Dividend per Share1.101.101.10
(+) Excess Retained per Share0.210.330.41
(=) Adjusted Dividend1.311.431.51
WACC / Discount Rate9.08%9.08%9.08%
Growth Rate-2.00%-1.00%0.00%
Fair Value$11.57$14.05$16.65
Upside / Downside16.73%41.77%68.06%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)53.1052.5752.0451.5251.0150.5052.01
Payout Ratio67.42%71.94%76.45%80.97%85.48%90.00%92.50%
Projected Dividends (M)35.8037.8139.7941.7243.6045.4548.11

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.08%9.08%9.08%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)34.3234.6735.02
Year 2 PV (M)32.7733.4434.12
Year 3 PV (M)31.1832.1433.12
Year 4 PV (M)29.5730.8032.06
Year 5 PV (M)27.9729.4330.95
PV of Terminal Value (M)487.03512.39538.80
Equity Value (M)642.84672.87704.07
Shares Outstanding (M)32.4832.4832.48
Fair Value$19.79$20.72$21.68
Upside / Downside99.72%109.05%118.74%

High-Yield Dividend Screener

« Prev Page 3 of 151 Next »
Ticker Company Dividend Yield % Dividend Per Share Payout Ratio %
1272.HKDatang Environment Industry Group Co., Ltd.13.53%$0.1542.28%
MID-UN.TOMINT Income Fund13.47%$1.0661.55%
1126.HKDream International Limited13.45%$1.1550.50%
HCO.PAHigh Co. S.A.13.45%$0.5362.33%
2348.HKDawnrays Pharmaceutical (Holdings) Limited13.44%$0.1633.06%
0384.HKChina Gas Holdings Limited13.43%$1.0494.76%
AEFAbrdn Emerging Markets Equity Income Fund Inc13.42%$0.9661.57%
9616.HKNeutech Group Limited13.40%$0.3455.10%
WN-PA.TOGeorge Weston Limited13.36%$3.4127.39%
CY4.FKelsian Group Limited13.31%$0.3278.26%
1100.HKMainland Headwear Holdings Limited13.28%$0.1742.95%
1755.HKS-Enjoy Service Group Co., Limited13.28%$0.3733.22%
DRR.AXDeterra Royalties Limited13.28%$0.5593.57%
2942.TWOJing-Jan Retail Business Co., Ltd.13.27%$4.1962.94%
1985.HKMicroware Group Limited13.26%$0.1768.95%
SSG.AXShaver Shop Group Limited13.25%$0.2086.08%
1553.HKMaike Tube Industry Holdings Limited13.22%$0.2027.92%
3306.HKJNBY Design Limited13.22%$2.5577.85%
0363.HKShanghai Industrial Holdings Limited13.17%$1.9035.00%
0579.HKBeijing Jingneng Clean Energy Co., Limited13.09%$0.3042.68%
RI.PAPernod Ricard S.A.13.06%$9.5377.43%
VULC3.SAVulcabras S.A.13.05%$2.6060.16%
600919.SSBank of Jiangsu Co., Ltd.13.01%$1.3572.63%
1551.HKGuangzhou Rural Commercial Bank Co., Ltd.13.00%$0.2058.85%
EIT-UN.TOCanoe EIT Income Fund13.00%$2.0542.34%
4334.SRAl Maather Reit Fund12.98%$1.1689.22%
BCE-PA.TOBCE Inc.12.97%$2.7139.91%
HLO.AXHelloworld Travel Limited12.97%$0.2567.50%
4347.SRBonyan REIT Fund12.96%$1.2193.24%
1526.HKRici Healthcare Holdings Limited12.94%$0.1438.91%
3709.HKEEKA Fashion Holdings Limited12.93%$0.9958.41%
ELSA.JKPT Elnusa Tbk12.90%$65.7979.08%
3348.HKChina PengFei Group Limited12.88%$0.1642.43%
BAYU.JKPT Bayu Buana Tbk12.87%$175.0059.18%
MJLF.BKMajor Cineplex Lifestyle Leasehold Property Fund.12.81%$0.6246.37%
037460.KQSamji Electronics Co., Ltd.12.80%$1,880.7647.73%
1785.HKChengdu Expressway Co., Ltd.12.79%$0.2688.07%
GWO-PN.TOGreat-West Lifeco Inc.12.76%$2.3953.09%
UNC.TOUnited Corporations Limited12.75%$1.8760.14%
FDJ.PAFDJ United12.74%$3.8390.91%
IRAO.MEPJSC Inter RAO UES12.74%$0.3919.11%
0OGG.LS.A. Catana Group12.72%$0.3722.37%
TAPG.JKPT Triputra Agro Persada Tbk12.65%$191.0090.66%
2407.HKGaush Meditech Ltd12.64%$1.0277.13%
MPCK.DEMPC Münchmeyer Petersen Capital AG12.63%$0.6260.64%
EDL.DEEdel SE & Co. KGaA12.60%$0.5754.20%
0086.HKSun Hung Kai & Co. Limited12.59%$0.5294.25%
4340.SRAl Rajhi REIT Fund12.56%$1.0083.50%
TRMDTORM plc12.54%$2.4890.35%
0819.HKTianneng Power International Limited12.50%$0.8935.06%