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

National Bank of Canada (NA-PC.TO)

Company Dividend Discount ModelIndustry: Banks - DiversifiedSector: Financial Services

Valuation Snapshot

Stable Growth$565.91 - $2,087.40$1,729.93
Multi-Stage$265.28 - $290.06$277.44
Blended Fair Value$1,003.69
Current Price$26.54
Upside3,681.79%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2025202420232022202120202019201820172016
DPS8.47%10.53%5.104.293.933.462.883.402.592.402.211.57
YoY Growth--19.02%9.12%13.43%20.35%-15.31%31.05%8.06%8.51%41.00%-16.32%
Dividend Yield--19.22%16.19%15.37%13.37%11.35%13.56%11.84%10.57%8.70%6.29%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)4,017.00
(-) Cash Dividends Paid (M)1,952.00
(=) Cash Retained (M)2,065.00
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)803.40502.13301.28
Cash Retained (M)2,065.002,065.002,065.00
(-) Cash Required (M)-803.40-502.13-301.28
(=) Excess Retained (M)1,261.601,562.881,763.73
(/) Shares Outstanding (M)382.72382.72382.72
(=) Excess Retained per Share3.304.084.61
LTM Dividend per Share5.105.105.10
(+) Excess Retained per Share3.304.084.61
(=) Adjusted Dividend8.409.189.71
WACC / Discount Rate7.07%7.07%7.07%
Growth Rate5.50%6.50%7.50%
Fair Value$565.91$1,729.93$2,087.40
Upside / Downside2,032.27%6,418.20%7,765.12%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)4,017.004,278.114,556.184,852.335,167.745,503.645,668.75
Payout Ratio48.59%56.87%65.16%73.44%81.72%90.00%92.50%
Projected Dividends (M)1,952.002,433.162,968.633,563.434,223.014,953.275,243.59

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.07%7.07%7.07%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)2,251.262,272.592,293.93
Year 2 PV (M)2,541.342,589.752,638.61
Year 3 PV (M)2,822.472,903.492,986.05
Year 4 PV (M)3,094.833,213.853,336.27
Year 5 PV (M)3,358.623,520.843,689.27
PV of Terminal Value (M)87,456.9191,681.1196,066.99
Equity Value (M)101,525.43106,181.64111,011.12
Shares Outstanding (M)382.72382.72382.72
Fair Value$265.28$277.44$290.06
Upside / Downside899.54%945.38%992.92%

High-Yield Dividend Screener

« Prev Page 8 of 30 Next »
Ticker Company Dividend Yield % Dividend Per Share Payout Ratio %
ACICAmerican Coastal Insurance Corporation4.24%$0.4828.28%
NCDLNuveen Churchill Direct Lending Corp.4.24%$0.5730.88%
ESEversource Energy4.23%$2.8879.84%
ISBCInvestors Bancorp, Inc.4.21%$0.5844.24%
KMIKinder Morgan, Inc.4.21%$1.1795.05%
PWODPenns Woods Bancorp, Inc.4.17%$1.2545.44%
DDSDillard's, Inc.4.16%$26.5071.17%
RLIRLI Corp.4.16%$2.6067.96%
TFCTruist Financial Corporation4.16%$2.0753.19%
RMBIRichmond Mutual Bancorporation, Inc.4.15%$0.5854.33%
PRPermian Resources Corporation4.14%$0.6052.90%
RILYTB. Riley Financial, Inc. 6.00% Senior Notes Due 20284.13%$0.5856.91%
DGICADonegal Group Inc.4.12%$0.8028.85%
AUBNAuburn National Bancorporation, Inc.4.11%$1.0876.62%
FHBFirst Hawaiian, Inc.4.11%$1.0650.97%
PORPortland General Electric Company4.09%$1.9872.28%
NEWTLNewtek Business Services Corp.4.08%$1.0244.14%
NEWTGNewtekOne, Inc. 8.50% Fixed Rate Senior Notes due 20294.06%$1.0244.14%
NEWTZNewtek Business Services Corp. 5.50% Notes Due 20264.05%$1.0244.14%
LKQLKQ Corporation4.04%$1.2144.76%
NWENorthwestern Energy Group Inc4.04%$2.6274.07%
PXDPioneer Natural Resources Company4.00%$10.8054.25%
HAFCHanmi Financial Corporation3.99%$1.0744.22%
KSSKohl's Corporation3.99%$0.8550.52%
APAAPA Corporation3.98%$1.0124.12%
NWNNorthwest Natural Holding Company3.98%$1.8676.25%
HFWAHeritage Financial Corporation3.97%$0.9456.54%
WSBCWesBanco, Inc.3.97%$1.3265.39%
FULTFulton Financial Corporation3.96%$0.7739.22%
REYNReynolds Consumer Products Inc.3.96%$0.9163.16%
MSMMSC Industrial Direct Co., Inc.3.95%$3.3995.14%
RF-PFRegions Financial Corporation3.95%$1.0141.98%
NEWTINewtekOne, Inc. 8.00% Fixed Rate Senior Notes due 20283.94%$0.9942.24%
BOHBank of Hawaii Corporation3.93%$2.6958.42%
DCOMDime Community Bancshares, Inc.3.93%$1.1786.59%
OGEOGE Energy Corp.3.93%$1.6967.72%
ASIEXMultisector Income Fund - Investor Class3.92%$0.3596.64%
ESSEssex Property Trust, Inc.3.90%$10.0376.31%
WABCWestamerica Bancorporation3.90%$1.8639.32%
NJRNew Jersey Resources Corporation3.88%$1.7853.65%
XHRXenia Hotels & Resorts, Inc.3.88%$0.5693.99%
ARTNAArtesian Resources Corporation3.87%$1.2255.68%
FFBCFirst Financial Bancorp.3.87%$0.9738.17%
PNWPinnacle West Capital Corporation3.87%$3.4169.92%
UEUrban Edge Properties3.87%$0.7482.23%
NECBNortheast Community Bancorp, Inc.3.86%$0.8827.20%
SCSCXTouchstone Large Cap Focused Fund Class C3.86%$2.8037.43%
BBWIBath & Body Works, Inc.3.85%$0.8024.18%
BHBBar Harbor Bankshares3.85%$1.2054.11%
UGIUGI Corporation3.85%$1.4547.35%