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

John Hancock Income Securities Trust (JHS)

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

Valuation Snapshot

Stable Growth$4.61 - $6.27$5.46
Multi-Stage$9.75 - $10.68$10.21
Blended Fair Value$7.83
Current Price$11.36
Upside-31.06%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS-6.88%-6.97%0.470.410.920.880.750.670.740.810.850.90
YoY Growth--12.52%-54.96%4.23%17.60%12.70%-9.91%-8.70%-4.83%-5.69%-6.05%
Dividend Yield--4.09%4.23%8.78%5.73%4.86%4.57%5.63%5.47%5.97%6.51%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)10.96
(-) Cash Dividends Paid (M)10.40
(=) Cash Retained (M)0.56
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)2.191.370.82
Cash Retained (M)0.560.560.56
(-) Cash Required (M)-2.19-1.37-0.82
(=) Excess Retained (M)-1.63-0.81-0.26
(/) Shares Outstanding (M)11.6511.6511.65
(=) Excess Retained per Share-0.14-0.07-0.02
LTM Dividend per Share0.890.890.89
(+) Excess Retained per Share-0.14-0.07-0.02
(=) Adjusted Dividend0.750.820.87
WACC / Discount Rate9.08%9.08%9.08%
Growth Rate-6.21%-5.21%-4.21%
Fair Value$4.61$5.46$6.27
Upside / Downside-59.38%-51.96%-44.81%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)10.9610.389.849.338.848.388.63
Payout Ratio94.90%93.92%92.94%91.96%90.98%90.00%92.50%
Projected Dividends (M)10.409.759.158.588.057.547.99

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.08%9.08%9.08%
Growth Rate-6.21%-5.21%-4.21%
Year 1 PV (M)8.858.949.04
Year 2 PV (M)7.537.697.85
Year 3 PV (M)6.406.616.82
Year 4 PV (M)5.455.685.93
Year 5 PV (M)4.634.885.15
PV of Terminal Value (M)80.6685.0589.64
Equity Value (M)113.52118.86124.42
Shares Outstanding (M)11.6511.6511.65
Fair Value$9.75$10.21$10.68
Upside / Downside-14.20%-10.16%-5.96%

High-Yield Dividend Screener

« Prev Page 6 of 30 Next »
Ticker Company Dividend Yield % Dividend Per Share Payout Ratio %
FFord Motor Company5.53%$0.7463.45%
LCNBLCNB Corp.5.48%$0.8953.03%
PPBIPacific Premier Bancorp, Inc.5.48%$1.3492.42%
VGRVector Group Ltd.5.48%$0.8263.35%
DLXDeluxe Corporation5.43%$1.2166.43%
BAFNBayFirst Financial Corp.5.41%$0.4321.50%
IPGThe Interpublic Group of Companies, Inc.5.41%$1.3388.72%
PEBOPeoples Bancorp Inc.5.39%$1.6256.40%
OKEONEOK, Inc.5.38%$4.0075.29%
BUSEFirst Busey Corporation5.37%$1.2875.92%
OASOasis Petroleum Inc.5.37%$5.8765.40%
EIXEdison International5.36%$3.2639.45%
0R1X.LGeneral Mills, Inc.5.35%$2.4545.62%
FIBKFirst Interstate BancSystem, Inc.5.35%$1.8979.54%
FNCBFNCB Bancorp, Inc.5.33%$0.3651.41%
DHILDiamond Hill Investment Group, Inc.5.31%$9.0552.46%
SLRCSLR Investment Corp.5.31%$0.8249.67%
EPSNEpsilon Energy Ltd.5.30%$0.2491.92%
UVVUniversal Corporation5.28%$2.7862.64%
FLICThe First of Long Island Corporation5.27%$0.6386.64%
AUBAtlantic Union Bankshares Corporation5.22%$1.8576.04%
SAFESafehold Inc.5.20%$0.7145.17%
GAB-PGThe Gabelli Equity Trust Inc. PFD-G5.19%$1.0881.70%
HPQHP Inc.5.19%$1.1543.02%
SOISolaris Oilfield Infrastructure, Inc.5.18%$0.7025.64%
MBINOMerchants Bancorp5.17%$1.2924.09%
0JXQ.LMain Street Capital Corporation5.13%$3.1752.63%
EMNEastman Chemical Company5.12%$3.2954.36%
EMBCEmbecta Corp.5.10%$0.5936.96%
AMAntero Midstream Corporation5.09%$0.9193.18%
CZNCCitizens & Northern Corporation5.09%$1.0257.64%
FMNBFarmers National Banc Corp.5.09%$0.6846.83%
0J66.LHost Hotels & Resorts, Inc.5.08%$0.9084.69%
GLPIGaming and Leisure Properties, Inc.5.07%$2.2582.42%
PFISPeoples Financial Services Corp.5.07%$2.4446.22%
TBBAT&T Inc. 5.35% GLB NTS 665.07%$1.1436.88%
KFRCKforce Inc.5.02%$1.5768.10%
TTPTortoise Pipeline & Energy Fund, Inc.5.02%$2.3920.11%
STAR-PGiStar Inc.4.94%$1.2434.23%
PFSProvident Financial Services, Inc.4.93%$0.9761.13%
UBFOUnited Security Bancshares4.92%$0.4873.45%
DDTDillards Capital Trust I CAP SECS 7.5%4.90%$1.293.46%
SGUStar Group, L.P.4.89%$0.5836.90%
AGRAvangrid, Inc.4.88%$1.7660.70%
KMBKimberly-Clark Corporation4.88%$4.9583.80%
OCFCOceanFirst Financial Corp.4.86%$0.8761.98%
0I0J.LThe Clorox Company4.85%$4.8976.11%
FNLCThe First Bancorp, Inc.4.83%$1.2845.40%
RILYZB. Riley Financial, Inc. 5.25% Senior Notes due 20284.83%$0.5856.91%
BSETBassett Furniture Industries, Incorporated4.82%$0.8089.43%