Definitive Analysis
Loading...
Definitive Analysis

Financial Statements

Analysis Mode

Ticker

Industry

Sector

Miller/Howard High Income Equity Fund (HIE)

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

Valuation Snapshot

Stable Growth$9.38 - $13.74$11.48
Multi-Stage$17.76 - $19.44$18.59
Blended Fair Value$15.03
Current Price$10.94
Upside37.43%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2023202220212020201920182017
DPS-9.83%0.00%0.610.580.600.801.201.030.990.000.000.00
YoY Growth--5.70%-3.50%-24.98%-33.37%16.88%3.77%0.00%0.00%0.00%0.00%
Dividend Yield--6.38%5.72%5.74%13.37%10.18%9.27%0.00%0.00%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)23.03
(-) Cash Dividends Paid (M)22.60
(=) Cash Retained (M)0.44
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)4.612.881.73
Cash Retained (M)0.440.440.44
(-) Cash Required (M)-4.61-2.88-1.73
(=) Excess Retained (M)-4.17-2.44-1.29
(/) Shares Outstanding (M)18.6918.6918.69
(=) Excess Retained per Share-0.22-0.13-0.07
LTM Dividend per Share1.211.211.21
(+) Excess Retained per Share-0.22-0.13-0.07
(=) Adjusted Dividend0.991.081.14
WACC / Discount Rate8.30%8.30%8.30%
Growth Rate-2.00%-1.00%0.00%
Fair Value$9.38$11.48$13.74
Upside / Downside-14.24%4.95%25.58%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)23.0322.8022.5822.3522.1321.9022.56
Payout Ratio98.11%96.48%94.86%93.24%91.62%90.00%92.50%
Projected Dividends (M)22.6022.0021.4220.8420.2719.7120.87

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate8.30%8.30%8.30%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)20.1120.3220.52
Year 2 PV (M)17.8918.2618.63
Year 3 PV (M)15.9116.4116.91
Year 4 PV (M)14.1514.7415.34
Year 5 PV (M)12.5813.2313.92
PV of Terminal Value (M)251.36264.45278.08
Equity Value (M)332.01347.40363.40
Shares Outstanding (M)18.6918.6918.69
Fair Value$17.76$18.59$19.44
Upside / Downside62.37%69.90%77.72%

High-Yield Dividend Screener

« Prev Page 72 of 151 Next »
Ticker Company Dividend Yield % Dividend Per Share Payout Ratio %
TCNTricon Residential Inc.1.98%$0.2253.83%
000617.SZCNPC Capital Company Limited1.97%$0.1955.65%
013580.KSKyeryong Construction Industrial Co., Ltd.1.97%$399.956.19%
600033.SSFujian Expressway Development Co.,Ltd1.97%$0.0827.53%
603337.SSJack Technology Co.,Ltd1.97%$0.8544.29%
603338.SSZhejiang Dingli Machinery Co.,Ltd1.97%$1.1232.10%
605090.SSJiangxi Jovo Energy Co., Ltd1.97%$0.8542.14%
DEZ.DEDeutz AG1.97%$0.1799.16%
KEJU.JKPT Mulia Boga Raya Tbk1.97%$13.0042.56%
LOGN.SWLogitech International S.A.1.97%$1.6036.80%
NTSC.BKNutrition SC Public Company Limited1.97%$0.1213.98%
000220.KSYuyu Pharma, Inc.1.96%$89.7431.97%
000862.SZNing Xia Yin Xing Energy Co.,Ltd1.96%$0.1178.53%
001333.SZZhejiang Guanghua Technology Co., Ltd.1.96%$0.4241.57%
002926.SZHUAXI Securities Co., Ltd.1.96%$0.1831.11%
0QMI.LSGS S.A.1.96%$1.6631.21%
0R4W.LMultitude SE1.96%$0.1219.36%
183300.KQKoMiCo Ltd.1.96%$1,854.5632.39%
600031.SSSany Heavy Industry Co., Ltd1.96%$0.4142.56%
600449.SSNingxia Building Materials Group Co.,Ltd1.96%$0.2439.64%
603477.SSLeshan Giantstar Farming&Husbandry Corporation Limited1.96%$0.3445.55%
603650.SSRed Avenue New Materials Group Co., Ltd.1.96%$0.8689.92%
EQB.TOEQB Inc.1.96%$2.0522.50%
EVROF.ATEvrofarma S.A.1.96%$0.0725.28%
HAGA.ICHagar hf1.96%$2.3034.34%
INISS-B.STInission AB (publ)1.96%$0.9855.65%
TWPC.BKThai Wah Public Company Limited1.96%$0.0632.91%
001358.SZShaoxing Xingxin New Materials Co Ltd1.95%$0.5095.37%
003039.SZGuangdong Shunkong Development Co.,Ltd.1.95%$0.3170.47%
267250.KSHD Hyundai Co., Ltd.1.95%$3,599.8749.88%
4553.TTowa Pharmaceutical Co., Ltd.1.95%$71.0416.94%
688236.SSBeijing Chunlizhengda Medical Instruments Co., Ltd.1.95%$0.4566.78%
MIDI.JKPT Midi Utama Indonesia Tbk1.95%$7.3536.66%
002662.SZBeijing WKW Automotive Parts Co.,Ltd.1.94%$0.0849.66%
002697.SZChengdu Hongqi Chain Co.,Ltd.1.94%$0.1230.44%
0345.HKVitasoy International Holdings Limited1.94%$0.1336.86%
079430.KSHyundai Livart Furniture Company Limited1.94%$131.1521.94%
0GEG.LVaisala Oyj1.94%$0.8548.66%
2229.TCalbee, Inc.1.94%$58.0941.83%
3284.THoosiers Holdings Co., Ltd.1.94%$25.5522.98%
4819.TDigital Garage, Inc.1.94%$52.4275.12%
600061.SSSDIC Capital Co.,Ltd1.94%$0.1529.00%
600356.SSMudanjiang Hengfeng Paper Co.,Ltd1.94%$0.1733.08%
600563.SSXiamen Faratronic Co., Ltd.1.94%$2.0439.85%
688468.SSChemclin Diagnostics Co., Ltd.1.94%$0.1499.41%
9610.SRFirst Avenue for Real Estate De1.94%$0.1216.89%
ADMIE.ATAdmie Holding S.A.1.94%$0.0610.56%
MPHASIS.BOMphasis Limited1.94%$54.4258.27%
TREL-B.STTrelleborg AB (publ)1.94%$7.5646.55%
005740.KSCROWNHAITAI Holdings Co.,Ltd.1.93%$130.059.54%