DDM Analysis: NTB

Valuation Snapshot

Stable Growth	$160.65 - $676.93	$277.24
Multi-Stage	$100.13 - $109.43	$104.70
Blended Fair Value	$190.97
Current Price	$42.90
Upside	345.15%
Decision	Buy

Dividend History & Growth Metrics (10Y)

Metric	5Y CAGR	10Y CAGR	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DPS	-3.20%	11.24%	1.85	2.00	2.03	2.03	2.06	2.17	1.94	1.62	0.45	0.58
YoY Growth	-	-	-7.66%	-1.32%	0.07%	-1.85%	-5.02%	11.87%	20.04%	260.44%	-22.14%	-9.45%
Dividend Yield	-	-	4.74%	6.29%	7.51%	5.64%	5.40%	12.76%	5.29%	3.71%	1.41%	2.33%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)

Net Income To Common (M)	227.77
(-) Cash Dividends Paid (M)	76.08
(=) Cash Retained (M)	151.69

Metric	LOW	BASE	HIGH
Required Retention Ratio	20.0%	12.5%	7.5%
(=) Cash Required (M)	45.55	28.47	17.08
Cash Retained (M)	151.69	151.69	151.69
(-) Cash Required (M)	-45.55	-28.47	-17.08
(=) Excess Retained (M)	106.14	123.22	134.61
(/) Shares Outstanding (M)	43.10	43.10	43.10
(=) Excess Retained per Share	2.46	2.86	3.12
LTM Dividend per Share	1.77	1.77	1.77
(+) Excess Retained per Share	2.46	2.86	3.12
(=) Adjusted Dividend	4.23	4.62	4.89
WACC / Discount Rate	8.28%	8.28%	8.28%
Growth Rate	5.50%	6.50%	7.50%
Fair Value	$160.65	$277.24	$676.93
Upside / Downside	274.48%	546.25%	1,477.92%

Multi-Stage Model: Projections

(USD in Millions)

Metric	TTM	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Terminal
Net Income (M)	227.77	242.57	258.34	275.13	293.01	312.06	321.42
Payout Ratio	33.40%	44.72%	56.04%	67.36%	78.68%	90.00%	92.50%
Projected Dividends (M)	76.08	108.48	144.77	185.33	230.54	280.85	297.32

Multi-Stage Valuation

Metric	LOW	BASE	HIGH
WACC / Discount Rate	8.28%	8.28%	8.28%
Growth Rate	5.50%	6.50%	7.50%
Year 1 PV (M)	99.25	100.19	101.13
Year 2 PV (M)	121.18	123.49	125.82
Year 3 PV (M)	141.92	146.00	150.15
Year 4 PV (M)	161.52	167.73	174.12
Year 5 PV (M)	180.02	188.72	197.75
PV of Terminal Value (M)	3,611.92	3,786.37	3,967.51
Equity Value (M)	4,315.81	4,512.50	4,716.47
Shares Outstanding (M)	43.10	43.10	43.10
Fair Value	$100.13	$104.70	$109.43
Upside / Downside	133.41%	144.05%	155.08%

High-Yield Dividend Screener

US Stocks Global Stocks

« Prev Page 70 of 151 Next »

Ticker ⇵	Company ⇵	Dividend Yield % ▼	Dividend Per Share ⇵	Payout Ratio % ⇵
6101.T	Tsugami Corporation	2.08%	$59.70	21.18%
9549.SR	Abdulaziz and Mansour Ibrahim Albabtin Co.	2.08%	$0.50	29.71%
FPAR-A.ST	FastPartner AB (publ)	2.08%	$0.97	55.03%
GRNG.ST	Gränges AB (publ)	2.08%	$3.09	34.78%
ZGN	Ermenegildo Zegna N.V.	2.08%	$0.22	28.26%
000983.SZ	Shanxi Coking Coal Energy Group Co.,Ltd.	2.07%	$0.13	44.44%
006090.KS	Oyang Corporation	2.07%	$187.55	43.67%
0O1O.L	Vetoquinol S.A.	2.07%	$1.74	19.10%
1748.HK	Xin Yuan Enterprises Group Limited	2.07%	$0.04	62.70%
4677.KL	YTL Corporation Berhad	2.07%	$0.04	26.42%
603136.SS	Jiangsu Tianmu Lake Tourism Co.,Ltd	2.07%	$0.24	64.23%
7965.T	Zojirushi Corporation	2.07%	$32.35	36.35%
MRSA3B.SA	MRS Logística S.A.	2.07%	$0.81	18.86%
OCL.AX	Objective Corporation Limited	2.07%	$0.34	57.76%
TRTN	Triton International Limited	2.07%	$1.65	28.50%
001219.SZ	Qingdao Foods CO.,LTD.	2.06%	$0.29	55.25%
002351.SZ	Edifier Technology Co., Ltd.	2.06%	$0.25	53.80%
004830.KS	Duksung Co., Ltd.	2.06%	$100.30	19.66%
600120.SS	Zhejiang Orient Financial Holdings Group Co., Ltd.	2.06%	$0.13	32.28%
600143.SS	Kingfa Sci. & Tech. Co., Ltd.	2.06%	$0.40	85.82%
7735.T	SCREEN Holdings Co., Ltd.	2.06%	$314.43	32.13%
ALSO3.SA	Aliansce Sonae Shopping Centers S.A.	2.06%	$0.52	9.27%
MLIA.JK	PT Mulia Industrindo Tbk	2.06%	$6.98	27.72%
REA.AX	REA Group Limited	2.06%	$3.81	51.46%
THEON.AS	Theon International PLC	2.06%	$0.55	52.53%
000902.SZ	YONFER Agricultural Technology Co., Ltd.	2.05%	$0.32	26.06%
002938.SZ	Avary Holding(Shenzhen)Co., Limited	2.05%	$1.04	59.37%
036930.KQ	JUSUNG ENGINEERING Co., Ltd.	2.05%	$625.50	45.79%
086280.KS	Hyundai Glovis Co., Ltd.	2.05%	$3,700.10	19.97%
2730.T	EDION Corporation	2.05%	$43.41	30.64%
4191.SR	Abdullah Saad Mohammed Abo Moati for Bookstores Company	2.05%	$1.01	76.56%
9527.SR	Ame Company For Medical Supplies	2.05%	$2.00	27.73%
BMIN3.SA	Banco Mercantil de Investimentos S.A.	2.05%	$0.47	28.32%
GUAR3.SA	Guararapes Confecções S.A.	2.05%	$0.18	20.09%
MGROS.IS	Migros Ticaret A.S.	2.05%	$10.88	31.41%
MLL.DE	Müller - Die lila Logistik AG	2.05%	$0.10	6.76%
RAY-A.TO	Stingray Group Inc.	2.05%	$0.30	39.32%
VIVA3.SA	Vivara Participações S.A.	2.05%	$0.66	20.93%
268280.KS	Miwon Specialty Chemical Co., Ltd.	2.04%	$2,814.57	22.79%
2869.HK	Greentown Service Group Co. Ltd.	2.04%	$0.09	17.96%
450330.KQ	Hass	2.04%	$131.79	35.27%
605589.SS	Jinan Shengquan Group Share Holding Co., Ltd.	2.04%	$0.58	44.86%
CEK.DE	CeoTronics AG	2.04%	$0.26	34.71%
CSAP.JK	PT Catur Sentosa Adiprana Tbk	2.04%	$6.50	30.53%
ROTH.PA	Rothschild & Co SCA	2.04%	$0.78	13.71%
2476.TW	G-SHANK Enterprise Co., Ltd.	2.03%	$1.85	49.48%
2852.KL	Cahya Mata Sarawak Berhad	2.03%	$0.03	28.80%
3788.HK	China Hanking Holdings Limited	2.03%	$0.08	36.16%
4004.SR	Dallah Healthcare Company	2.03%	$2.54	49.37%
601607.SS	Shanghai Pharmaceuticals Holding Co., Ltd	2.03%	$0.36	23.77%

Financial Statements

Fundamentals

Valuations

Miscellaneous

Mode

Ticker

Industry

Sector

The Bank of N.T. Butterfield & Son Limited (NTB)

Valuation Snapshot

Dividend History & Growth Metrics (10Y)

Stable Growth Model (Adjusted)

Multi-Stage Model: Projections

Multi-Stage Valuation

High-Yield Dividend Screener