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

Income Financial Trust (INC-UN.TO)

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

Valuation Snapshot

Stable Growth$29.74 - $45.41$37.07
Multi-Stage$63.46 - $69.83$66.59
Blended Fair Value$51.83
Current Price$8.46
Upside512.65%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS1.44%0.41%0.771.011.180.880.490.721.111.150.840.78
YoY Growth---23.59%-14.38%33.35%80.46%-31.78%-35.28%-3.28%37.04%7.19%5.51%
Dividend Yield--8.93%13.84%10.17%5.87%6.32%7.91%11.11%7.06%5.93%6.93%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)11.11
(-) Cash Dividends Paid (M)4.80
(=) Cash Retained (M)6.31
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)2.221.390.83
Cash Retained (M)6.316.316.31
(-) Cash Required (M)-2.22-1.39-0.83
(=) Excess Retained (M)4.094.925.48
(/) Shares Outstanding (M)3.333.333.33
(=) Excess Retained per Share1.231.481.65
LTM Dividend per Share1.441.441.44
(+) Excess Retained per Share1.231.481.65
(=) Adjusted Dividend2.672.923.09
WACC / Discount Rate6.80%6.80%6.80%
Growth Rate-2.00%-1.00%0.00%
Fair Value$29.74$37.07$45.41
Upside / Downside251.58%338.24%436.73%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)11.1111.0010.8910.7810.6810.5710.89
Payout Ratio43.23%52.59%61.94%71.29%80.65%90.00%92.50%
Projected Dividends (M)4.805.796.757.698.619.5110.07

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.80%6.80%6.80%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)5.365.425.47
Year 2 PV (M)5.805.916.03
Year 3 PV (M)6.126.316.50
Year 4 PV (M)6.356.626.89
Year 5 PV (M)6.516.847.20
PV of Terminal Value (M)181.01190.43200.25
Equity Value (M)211.14221.53232.34
Shares Outstanding (M)3.333.333.33
Fair Value$63.46$66.59$69.83
Upside / Downside650.15%687.06%725.46%

High-Yield Dividend Screener

« Prev Page 5 of 30 Next »
Ticker Company Dividend Yield % Dividend Per Share Payout Ratio %
PFEPfizer Inc.6.75%$1.7098.83%
COGCabot Oil & Gas Corporation6.71%$1.4952.20%
VZVerizon Communications Inc.6.66%$2.7057.56%
ACAssociated Capital Group, Inc.6.63%$2.2186.94%
VACMarriott Vacations Worldwide Corporation6.62%$3.9078.61%
SSTKShutterstock, Inc.6.61%$1.2475.34%
EPDEnterprise Products Partners L.P.6.60%$2.1280.06%
SXCSunCoke Energy, Inc.6.57%$0.4863.44%
DINDine Brands Global, Inc.6.56%$2.1890.98%
CBLCBL & Associates Properties, Inc.6.54%$2.4261.13%
CRICarter's, Inc.6.47%$2.1585.39%
KYNKayne Anderson Energy Infrastructure Fund, Inc.6.47%$0.8035.36%
SMMCXWestern Asset Managed Municipals Fund Class C6.45%$0.9671.65%
HESMHess Midstream LP6.39%$2.2187.39%
WRB-PFW.R. Berkley Corporation 5.10%6.38%$1.2726.69%
RMTRoyce Micro-Cap Trust, Inc.6.37%$0.6732.29%
PNFPIMCO New York Municipal Income Fund6.30%$0.4854.92%
ENREnergizer Holdings, Inc.6.29%$1.2536.44%
UPSUnited Parcel Service, Inc.6.29%$6.3598.06%
NWBINorthwest Bancshares, Inc.6.27%$0.7593.81%
UIHCUnited Insurance Holdings Corp.6.27%$0.485.99%
TROWT. Rowe Price Group, Inc.6.24%$6.5369.41%
JRSHJerash Holdings (US), Inc.6.20%$0.190.52%
MUABlackRock MuniAssets Fund, Inc.6.14%$0.6673.39%
VKIInvesco Advantage Municipal Income Trust II6.11%$0.5676.68%
GL-PDGlobe Life Inc. 4.25% Junior Su6.10%$1.037.35%
CLNYColony Capital, Inc.6.07%$0.5213.43%
OMFOneMain Holdings, Inc.6.07%$4.2071.06%
VICIVICI Properties Inc.6.07%$1.7165.54%
IMMRImmersion Corporation6.06%$0.3914.22%
KRNYKearny Financial Corp.5.99%$0.4493.99%
DMFBNY Mellon Municipal Income, Inc.5.97%$0.4129.64%
UNBUnion Bankshares, Inc.5.96%$1.4157.02%
ARTMXArtisan Mid Cap Fund Inv Shs5.91%$1.9591.77%
SABASaba Capital Income & Opportunities Fund II5.87%$0.4924.55%
BRDBeard Energy Transition Acquisition Corp.5.86%$0.6395.51%
ETRNEquitrans Midstream Corporation5.81%$0.7269.91%
EHLDVEuroholdings Ltd5.80%$0.285.02%
REPXRiley Exploration Permian, Inc.5.80%$1.5438.01%
AIIAmerican Integrity Insurance Group, Inc.5.79%$1.1726.25%
VRTSVirtus Investment Partners, Inc.5.75%$9.3547.12%
CXHMFS Investment Grade Municipal Trust5.74%$0.4680.40%
GESGuess', Inc.5.72%$0.9661.52%
KRCKilroy Realty Corporation5.71%$2.1779.80%
WRB-PEW. R. Berkley Corporation 5.70% SB DB 20585.68%$1.2726.69%
LEOBNY Mellon Strategic Municipals, Inc.5.66%$0.3637.22%
WLYBJohn Wiley & Sons, Inc.5.64%$1.7692.90%
KMPBKemper Corporation 5.875% Fixed5.60%$1.3132.45%
CBTXCBTX, Inc.5.56%$1.6354.55%
0HST.LCampbell Soup Company5.53%$1.5580.10%