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

The New America High Income Fund Inc. (HYB)

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

Valuation Snapshot

Stable Growth$5.54 - $7.72$6.63
Multi-Stage$10.32 - $11.32$10.81
Blended Fair Value$8.72
Current Price$7.33
Upside18.92%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2023202220212020201920182017201620152014
DPS-5.70%-6.31%0.280.390.370.350.390.380.430.430.480.49
YoY Growth---27.37%5.88%3.65%-10.28%4.27%-12.86%0.57%-10.01%-2.70%-8.91%
Dividend Yield--3.99%5.87%3.92%4.06%4.31%4.99%4.60%4.65%6.24%5.50%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)38.31
(-) Cash Dividends Paid (M)24.30
(=) Cash Retained (M)14.02
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)7.664.792.87
Cash Retained (M)14.0214.0214.02
(-) Cash Required (M)-7.66-4.79-2.87
(=) Excess Retained (M)6.359.2311.14
(/) Shares Outstanding (M)40.9140.9140.91
(=) Excess Retained per Share0.160.230.27
LTM Dividend per Share0.590.590.59
(+) Excess Retained per Share0.160.230.27
(=) Adjusted Dividend0.750.820.87
WACC / Discount Rate9.08%9.08%9.08%
Growth Rate-3.92%-2.92%-1.92%
Fair Value$5.54$6.63$7.72
Upside / Downside-24.48%-9.59%5.33%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)38.3137.1936.1035.0534.0233.0334.02
Payout Ratio63.42%68.74%74.05%79.37%84.68%90.00%92.50%
Projected Dividends (M)24.3025.5626.7427.8228.8129.7231.47

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.08%9.08%9.08%
Growth Rate-3.92%-2.92%-1.92%
Year 1 PV (M)23.1923.4423.68
Year 2 PV (M)22.0122.4722.93
Year 3 PV (M)20.7821.4322.10
Year 4 PV (M)19.5320.3521.20
Year 5 PV (M)18.2819.2520.26
PV of Terminal Value (M)318.23335.14352.76
Equity Value (M)422.01442.08462.94
Shares Outstanding (M)40.9140.9140.91
Fair Value$10.32$10.81$11.32
Upside / Downside40.75%47.44%54.39%

High-Yield Dividend Screener

« Prev Page 4 of 30 Next »
Ticker Company Dividend Yield % Dividend Per Share Payout Ratio %
VKQInvesco Municipal Trust8.62%$0.8469.07%
ARCCAres Capital Corporation8.61%$1.7691.56%
TPVGTriplePoint Venture Growth BDC Corp.8.52%$0.5767.26%
C-PJCitigroup Inc.8.49%$2.1326.99%
RVTRoyce Value Trust Inc.8.42%$1.3639.40%
OGNOrganon & Co.8.37%$0.6131.54%
MITTAG Mortgage Investment Trust, Inc.8.12%$0.7043.47%
CAGConagra Brands, Inc.8.06%$1.3978.70%
NOGNorthern Oil and Gas, Inc.8.02%$1.7794.64%
PAAPlains All American Pipeline, L.P.8.00%$1.4690.71%
TSLXSixth Street Specialty Lending, Inc.8.00%$1.7385.26%
ACCOACCO Brands Corporation7.90%$0.2967.00%
ETDEthan Allen Interiors Inc.7.90%$1.8197.75%
CQPCheniere Energy Partners, L.P.7.82%$4.2388.03%
UNMAUnum Group 6.250% JR NT587.69%$1.7933.52%
WRB-PHW.R. Berkley Corporation 4.125%7.68%$1.2726.69%
JHSJohn Hancock Income Securities Trust7.65%$0.8994.90%
NIDNuveen Intermediate Duration Municipal Term Fund7.59%$1.0284.59%
HWCPZHancock Whitney Corporation - 67.58%$1.7731.35%
WRB-PGW.R. Berkley Corporation 4.25%7.54%$1.2726.69%
NMTNuveen Massachusetts Quality Municipal Income Fund7.48%$0.8580.62%
LOANManhattan Bridge Capital, Inc.7.45%$0.3574.53%
OPALOPAL Fuels Inc.7.43%$0.1846.94%
ZIONLZions Bancorporation N.A. - 6.97.42%$1.8632.04%
GMTAGATX Corporation SR NT 20667.41%$1.8621.29%
IIMInvesco Value Municipal Income Trust7.41%$0.9264.33%
JMMNuveen Multi-Market Income Fund7.28%$0.4461.06%
BKEThe Buckle, Inc.7.26%$3.9196.21%
MHIPioneer Municipal High Income Fund, Inc.7.19%$0.6413.70%
ORIOld Republic International Corporation7.19%$3.1193.13%
PMFPIMCO Municipal Income Fund7.07%$0.5992.59%
RYNRayonier Inc.7.04%$1.5230.67%
DRQDril-Quip, Inc.7.02%$1.0850.37%
TRINITrinity Capital Inc. 7.875% Notes Due 20297.02%$1.7883.48%
C-PNCitigroup Capital XIII TR PFD SECS7.01%$2.1326.99%
VPVInvesco Pennsylvania Value Municipal Income Trust6.98%$0.7360.22%
VCVInvesco California Value Municipal Income Trust6.97%$0.7860.58%
EOTEaton Vance National Municipal Opportunities Trust6.96%$1.1869.84%
FLATXFidelity Latin America Fund6.92%$1.1539.63%
EGYVAALCO Energy, Inc.6.91%$0.2592.67%
NOMNuveen Missouri Quality Municipal Income Fund6.91%$0.8278.81%
UBCPUnited Bancorp, Inc.6.90%$0.9996.30%
TBCAT&T Inc. 5.625% Global Notes d6.89%$1.7255.65%
GTNGray Media, Inc.6.87%$0.3334.04%
HEPHolly Energy Partners, L.P.6.86%$1.4074.08%
AFGAmerican Financial Group, Inc.6.85%$9.2396.49%
BANFPBFC Capital Trust II PFD TR 7.20%6.85%$1.8025.72%
CFG-PDCitizens Financial Group, Inc.6.83%$1.7143.60%
RCIIRent-A-Center, Inc.6.81%$1.8279.98%
SPHSuburban Propane Partners, L.P.6.81%$1.2778.56%