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

Invesco Value Municipal Income Trust (IIM)

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

Valuation Snapshot

Stable Growth$6.75 - $9.12$7.96
Multi-Stage$13.84 - $15.21$14.51
Blended Fair Value$11.24
Current Price$12.49
Upside-10.03%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2025202420232022202120202019201820172016
DPS-4.78%-5.13%0.530.540.650.760.710.670.720.740.780.84
YoY Growth---1.88%-17.96%-14.18%6.94%5.96%-6.45%-3.24%-5.16%-6.37%-6.14%
Dividend Yield--4.21%4.55%5.36%5.03%4.55%4.34%5.00%5.12%5.30%4.88%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)67.74
(-) Cash Dividends Paid (M)43.58
(=) Cash Retained (M)24.17
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)13.558.475.08
Cash Retained (M)24.1724.1724.17
(-) Cash Required (M)-13.55-8.47-5.08
(=) Excess Retained (M)10.6215.7019.09
(/) Shares Outstanding (M)47.2047.2047.20
(=) Excess Retained per Share0.220.330.40
LTM Dividend per Share0.920.920.92
(+) Excess Retained per Share0.220.330.40
(=) Adjusted Dividend1.151.261.33
WACC / Discount Rate9.08%9.08%9.08%
Growth Rate-6.78%-5.78%-4.78%
Fair Value$6.75$7.96$9.12
Upside / Downside-45.96%-36.24%-26.97%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)67.7463.8360.1456.6753.3950.3151.82
Payout Ratio64.33%69.46%74.60%79.73%84.87%90.00%92.50%
Projected Dividends (M)43.5844.3444.8645.1845.3145.2847.93

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.08%9.08%9.08%
Growth Rate-6.78%-5.78%-4.78%
Year 1 PV (M)40.2240.6541.08
Year 2 PV (M)36.9137.7138.51
Year 3 PV (M)33.7134.8135.93
Year 4 PV (M)30.6732.0133.39
Year 5 PV (M)27.7929.3230.91
PV of Terminal Value (M)483.95510.47538.14
Equity Value (M)653.25684.95717.95
Shares Outstanding (M)47.2047.2047.20
Fair Value$13.84$14.51$15.21
Upside / Downside10.81%16.18%21.78%

High-Yield Dividend Screener

« Prev Page 7 of 30 Next »
Ticker Company Dividend Yield % Dividend Per Share Payout Ratio %
PLYMPlymouth Industrial REIT, Inc.4.80%$1.0549.94%
SAFTSafety Insurance Group, Inc.4.80%$3.6361.47%
CETCentral Securities Corp.4.79%$2.4313.87%
GBLIGlobal Indemnity Group, LLC4.79%$1.3870.11%
JANIXJanus Henderson Triton Fund Class D4.79%$1.2767.95%
MITNAG Mortgage Investment Trust, Inc. 9.500% Senior Notes due 20294.77%$1.2175.90%
PRUPrudential Financial, Inc.4.77%$5.4373.37%
IFAFXThe Income Fund of America, Class F-1 Shares4.76%$1.2433.91%
AMECXAmerican Funds The Income Fund of America Class A4.74%$1.2433.91%
UMPQUmpqua Holdings Corporation4.74%$0.8454.13%
NFBKNorthfield Bancorp, Inc.4.73%$0.5454.01%
SBSISouthside Bancshares, Inc.4.72%$1.4462.24%
TNLTravel + Leisure Co.4.72%$3.4054.99%
AIRCApartment Income REIT Corp.4.68%$1.8341.27%
SONSonoco Products Company4.68%$2.0832.95%
OFLXOmega Flex, Inc.4.67%$1.3685.30%
FTAIOFTAI Aviation Ltd.4.65%$1.1825.22%
WDWalker & Dunlop, Inc.4.65%$2.7379.29%
0J2Z.LHA Sustainable Infrastructure Capital, Inc.4.63%$1.4766.70%
FLMNFalcon Minerals Corporation4.63%$0.3681.83%
GSRMGSR II Meteora Acquisition Corp.4.62%$0.1532.94%
FBFWXAmerican Funds Retirement Income Portfolio - Moderate Class F-14.61%$0.6379.77%
GPSThe Gap, Inc.4.61%$0.9341.48%
QUADQuad/Graphics, Inc.4.61%$0.2764.56%
BMYBristol-Myers Squibb Company4.59%$2.4582.81%
WTBAWest Bancorporation, Inc.4.56%$0.9952.39%
SCPLSciPlay Corporation4.55%$1.0417.40%
OLPOne Liberty Properties, Inc.4.53%$0.9257.61%
RWAYLRunway Growth Finance Corp. - 74.53%$1.1475.51%
INSWInternational Seaways, Inc.4.52%$2.1248.43%
RWAYZRunway Growth Finance Corp. 8.00% Notes due 20274.52%$1.1475.51%
DDominion Energy, Inc.4.48%$2.6597.13%
TGTTarget Corporation4.48%$4.5054.48%
COLBColumbia Banking System, Inc.4.47%$1.2662.95%
DFPAXBNY Mellon Diversified International Fund Class A4.46%$0.4556.12%
KEYKeyCorp4.46%$0.9495.81%
RPTIXT. Rowe Price Mid-Cap Growth Fund4.46%$4.3859.54%
CGBDCarlyle Secured Lending, Inc.4.45%$0.5655.08%
NEWTPNewtekOne, Inc. Depositary Shares, Non-Cumulative Perpetual Preferred Stock, Series B4.44%$1.0244.14%
PFCPremier Financial Corp.4.43%$1.2468.07%
BFCBank First Corporation4.40%$5.3073.82%
DUKDuke Energy Corporation4.40%$5.1780.55%
0L77.LSkyworks Solutions, Inc.4.37%$2.7990.67%
ESCAEscalade, Incorporated4.35%$0.6065.28%
DINOHF Sinclair Corporation4.34%$2.0396.43%
LBAILakeland Bancorp, Inc.4.34%$0.5844.96%
CVXChevron Corporation4.32%$6.7495.36%
CVBFCVB Financial Corp.4.31%$0.8154.32%
HTBKHeritage Commerce Corp4.30%$0.5273.66%
EQREquity Residential4.28%$2.6689.76%