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

United Corporations Limited (UNC.TO)

Company Dividend Discount ModelIndustry: Asset ManagementSector: Financial Services

Valuation Snapshot

Stable Growth$26.72 - $40.39$33.16
Multi-Stage$55.38 - $60.86$58.07
Blended Fair Value$45.61
Current Price$13.57
Upside236.15%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2025202420232022202120202019201820172016
DPS48.91%26.75%1.810.150.610.250.250.250.220.250.230.20
YoY Growth--1,118.49%-75.59%145.11%-0.63%1.07%13.42%-14.46%8.79%18.02%17.30%
Dividend Yield--13.34%1.25%5.85%2.89%2.30%2.67%2.28%2.52%2.34%2.11%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)349.34
(-) Cash Dividends Paid (M)210.11
(=) Cash Retained (M)139.23
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)69.8743.6726.20
Cash Retained (M)139.23139.23139.23
(-) Cash Required (M)-69.87-43.67-26.20
(=) Excess Retained (M)69.3695.56113.03
(/) Shares Outstanding (M)112.52112.52112.52
(=) Excess Retained per Share0.620.851.00
LTM Dividend per Share1.871.871.87
(+) Excess Retained per Share0.620.851.00
(=) Adjusted Dividend2.482.722.87
WACC / Discount Rate7.11%7.11%7.11%
Growth Rate-2.00%-1.00%0.00%
Fair Value$26.72$33.16$40.39
Upside / Downside96.91%144.39%197.67%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)349.34345.85342.39338.97335.58332.22342.19
Payout Ratio60.14%66.12%72.09%78.06%84.03%90.00%92.50%
Projected Dividends (M)210.11228.66246.82264.59281.98299.00316.52

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.11%7.11%7.11%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)211.33213.48215.64
Year 2 PV (M)210.81215.14219.51
Year 3 PV (M)208.86215.32221.91
Year 4 PV (M)205.72214.24223.03
Year 5 PV (M)201.59212.09223.02
PV of Terminal Value (M)5,192.705,463.095,744.64
Equity Value (M)6,231.016,533.376,847.75
Shares Outstanding (M)112.52112.52112.52
Fair Value$55.38$58.07$60.86
Upside / Downside308.10%327.90%348.49%

High-Yield Dividend Screener

« Prev Page 3 of 30 Next »
Ticker Company Dividend Yield % Dividend Per Share Payout Ratio %
BLWBlackRock Limited Duration Income Trust11.50%$1.5893.39%
ELCEntergy Louisiana, LLC COLLATERAL TR MT11.33%$2.3457.35%
VIASPVia Renewables, Inc.11.33%$2.8849.21%
BUIBlackRock Utilities, Infrastructure & Power Opportunities Trust11.31%$2.9358.72%
JPCNuveen Preferred & Income Opportunities Fund11.24%$0.9167.43%
RILYB. Riley Financial, Inc.11.21%$0.5856.91%
PFOFlaherty & Crumrine Preferred Income Opportunity Fund Inc.11.06%$1.0543.18%
OXLCIOxford Lane Capital Corp.11.05%$2.8369.26%
USB-PSU.S. Bancorp Depositary Shares,10.98%$2.0243.68%
FLCFlaherty & Crumrine Total Return Fund Inc.10.93%$1.9242.77%
UTGReaves Utility Income Fund10.78%$4.0043.20%
CEMClearBridge MLP and Midstream Fund Inc10.77%$5.6046.76%
AIVApartment Investment and Management Company10.76%$0.6336.20%
DCFBNY Mellon Alcentra Global Credit Income 2024 Target Term Fund, Inc.10.71%$0.9942.71%
CALMCal-Maine Foods, Inc.10.70%$8.4032.04%
EMOClearBridge Energy Midstream Opportunity Fund Inc10.65%$4.7926.74%
CTRClearBridge MLP and Midstream Total Return Fund Inc.10.63%$5.0047.43%
EIMEaton Vance Municipal Bond Fund10.57%$1.0364.33%
VZAVerizon Communications, 5.9% 15 Feb 205410.57%$2.7049.90%
BPOPMPopular Capital Trust II PFD GTD 6.125%10.45%$2.6726.93%
RITMRithm Capital Corp.10.45%$1.1571.36%
IHTAInvesco High Income 2024 Target Term Fund10.33%$0.7826.82%
WUThe Western Union Company10.30%$0.9540.76%
ERHAllspring Utilities and High Income Fund10.26%$1.2231.06%
GDVThe Gabelli Dividend & Income Trust10.25%$2.8539.93%
CIIBlackRock Enhanced Capital and Income Fund, Inc.10.23%$2.3844.19%
GBDCGolub Capital BDC, Inc.10.19%$1.3897.76%
PVCMXPalm Valley Capital Fund Investor Class10.19%$1.2483.81%
AEDVXEmerging Markets Debt Fund - Investor Class9.95%$0.9476.80%
HYTBlackRock Corporate High Yield Fund, Inc.9.83%$0.8799.09%
FFCFlaherty & Crumrine Preferred Securities Income Fund Inc.9.79%$1.6337.81%
WENThe Wendy's Company9.78%$0.8082.75%
CMSACMS Energy Corporation 5.6% JRSUB NT 789.77%$2.1762.27%
HIEMiller/Howard High Income Equity Fund9.63%$1.2198.11%
NMSNuveen Minnesota Quality Municipal Income Fund9.54%$1.1237.02%
CMSCCMS Energy Corporation 5.875% J9.48%$2.1762.27%
NEE-PNNextEra Energy, Inc. Series N J9.24%$2.2170.10%
CMSDCMS Energy Corporation 5.875% Junior Subordinated Notes due 20799.20%$2.1762.27%
VFLabrdn National Municipal Income Fund9.06%$0.9334.18%
UANCVR Partners, LP8.96%$9.0975.52%
GGZThe Gabelli Global Small and Mid Cap Value Trust8.95%$1.3448.03%
SUNSSunrise Realty Trust, Inc.8.95%$0.8388.91%
PTYPIMCO Corporate & Income Opportunity Fund8.93%$1.1588.40%
ATHSAthene Holding Ltd. 7.250% Fixe8.86%$2.2214.14%
APAMArtisan Partners Asset Management Inc.8.83%$3.6697.93%
VLTInvesco High Income Trust II8.83%$0.9846.97%
VTNInvesco Trust for Investment Grade New York Municipals8.75%$1.0165.99%
JEQAbrdn Japan Equity Fund Inc8.73%$0.6943.45%
MOAltria Group, Inc.8.69%$4.9894.54%
JGGCJaguar Global Growth Corporation I8.63%$0.1563.08%