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

John Hancock Preferred Income Fund II (HPF)

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

Valuation Snapshot

Stable Growth$25.24 - $36.16$30.59
Multi-Stage$44.41 - $48.61$46.47
Blended Fair Value$38.53
Current Price$16.04
Upside140.21%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2025202420232022202120202019201820172016
DPS-0.25%-1.39%1.441.431.431.431.441.461.621.641.641.65
YoY Growth--0.44%0.13%-0.21%-0.85%-0.74%-10.02%-1.32%0.11%-0.81%-0.15%
Dividend Yield--8.96%8.45%9.02%7.53%6.57%7.89%6.83%7.71%7.31%7.27%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)78.92
(-) Cash Dividends Paid (M)61.95
(=) Cash Retained (M)16.97
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)15.789.875.92
Cash Retained (M)16.9716.9716.97
(-) Cash Required (M)-15.78-9.87-5.92
(=) Excess Retained (M)1.197.1011.05
(/) Shares Outstanding (M)21.5921.5921.59
(=) Excess Retained per Share0.050.330.51
LTM Dividend per Share2.872.872.87
(+) Excess Retained per Share0.050.330.51
(=) Adjusted Dividend2.923.203.38
WACC / Discount Rate9.08%9.08%9.08%
Growth Rate-2.25%-1.25%-0.25%
Fair Value$25.24$30.59$36.16
Upside / Downside57.34%90.69%125.46%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)78.9277.9476.9776.0175.0674.1276.35
Payout Ratio78.50%80.80%83.10%85.40%87.70%90.00%92.50%
Projected Dividends (M)61.9562.9763.9664.9165.8366.7170.62

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.08%9.08%9.08%
Growth Rate-2.25%-1.25%-0.25%
Year 1 PV (M)57.1557.7358.32
Year 2 PV (M)52.6753.7554.85
Year 3 PV (M)48.5150.0151.55
Year 4 PV (M)44.6446.5048.41
Year 5 PV (M)41.0643.2045.43
PV of Terminal Value (M)714.85752.16791.03
Equity Value (M)958.871,003.361,049.58
Shares Outstanding (M)21.5921.5921.59
Fair Value$44.41$46.47$48.61
Upside / Downside176.87%189.72%203.06%

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%