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Aberforth Split Level Income ZDP 2024 (ASIZ.L)

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

Valuation Snapshot

Stable Growth$207.80 - $317.23$259.02
Multi-Stage$444.97 - $489.55$466.82
Blended Fair Value$362.92
Current Price$1.20
Upside30,143.30%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR20232022202120202019
DPS0.00%0.00%6.515.004.986.056.380.000.000.000.000.00
YoY Growth--30.22%0.28%-17.69%-5.17%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--542.22%430.73%437.08%571.08%569.93%0.00%0.00%0.00%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)32.34
(-) Cash Dividends Paid (M)15.30
(=) Cash Retained (M)17.05
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)6.474.042.43
Cash Retained (M)17.0517.0517.05
(-) Cash Required (M)-6.47-4.04-2.43
(=) Excess Retained (M)10.5813.0114.62
(/) Shares Outstanding (M)1.391.391.39
(=) Excess Retained per Share7.639.3810.55
LTM Dividend per Share11.0411.0411.04
(+) Excess Retained per Share7.639.3810.55
(=) Adjusted Dividend18.6720.4221.59
WACC / Discount Rate6.80%6.80%6.80%
Growth Rate-2.00%-1.00%0.00%
Fair Value$207.80$259.02$317.23
Upside / Downside17,216.54%21,484.75%26,335.86%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)32.3432.0231.7031.3831.0730.7631.68
Payout Ratio47.29%55.83%64.37%72.92%81.46%90.00%92.50%
Projected Dividends (M)15.3017.8820.4122.8825.3127.6829.31

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.80%6.80%6.80%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)16.5716.7416.91
Year 2 PV (M)17.5317.8918.25
Year 3 PV (M)18.2218.7819.36
Year 4 PV (M)18.6819.4520.25
Year 5 PV (M)18.9319.9220.95
PV of Terminal Value (M)526.80554.23582.79
Equity Value (M)616.72647.01678.50
Shares Outstanding (M)1.391.391.39
Fair Value$444.97$466.82$489.55
Upside / Downside36,981.03%38,801.85%40,695.46%

High-Yield Dividend Screener

Page 1 of 30 Next »
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JGHNuveen Global High Income Fund19.71%$2.4870.08%
BSLBlackstone / GSO Senior Floating Rate Term Fund19.66%$2.6595.83%
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JLSNuveen Mortgage and Income Fund19.40%$3.5384.31%
ACVVirtus Diversified Income & Convertible Fund19.28%$5.0772.66%
BGBBlackstone/GSO Strategic Credit Fund19.19%$2.2686.72%
PHKPIMCO High Income Fund19.11%$0.9386.61%
DTWDTE Energy Company JR SUB DB 2017 E19.03%$4.0887.19%
EMDWestern Asset Emerging Markets Debt Fund Inc.18.84%$2.0378.17%
SR-PASpire Inc.18.76%$4.5498.60%
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DHYCredit Suisse High Yield Bond Fund, Inc.18.39%$0.3788.67%
MNRMach Natural Resources LP18.30%$2.0689.28%
PFLPIMCO Income Strategy Fund18.22%$1.5484.57%
EADWells Fargo Advantage Funds - Allspring Income Opportunities Fund18.08%$1.2352.27%
SPESpecial Opportunities Fund, Inc.18.03%$2.6644.19%
AIFApollo Tactical Income Fund Inc.17.93%$2.6660.44%
GABThe Gabelli Equity Trust Inc.17.77%$1.0881.70%
HPFJohn Hancock Preferred Income Fund II17.73%$2.8678.50%
MPVBarings Participation Investors17.65%$2.9395.78%
GBABGuggenheim Taxable Municipal Bond & Investment Grade Debt Trust17.43%$2.5974.37%
TEITempleton Emerging Markets Income Fund17.42%$1.1464.65%
ISDPGIM High Yield Bond Fund, Inc.17.40%$2.5296.64%
HIXWestern Asset High Income Fund II Inc.17.39%$0.7396.11%
NXGNXG NextGen Infrastructure Income Fund17.31%$8.7983.58%
HPIJohn Hancock Preferred Income Fund17.11%$2.7976.40%
RCSPIMCO Strategic Income Fund, Inc.17.08%$1.0075.51%
DUKBDuke Energy Corporation 5.625%16.95%$4.1965.28%
FGBFirst Trust Specialty Finance and Financial Opportunities Fund16.75%$0.7050.91%
RQICohen & Steers Quality Income Realty Fund, Inc.16.75%$1.9287.08%
FPFFirst Trust Intermediate Duration Preferred & Income Fund16.57%$3.0970.83%
EVVEaton Vance Limited Duration Income Fund16.43%$1.6364.70%
AIZNAssurant, Inc. 5.25% Subordinat16.41%$3.2219.47%
NMLNeuberger Berman MLP and Energy Income Fund Inc.16.37%$1.4040.22%
PGPPIMCO Global StocksPLUS & Income Fund16.31%$1.5060.66%
CHWCalamos Global Dynamic Income Fund16.07%$1.2066.54%
BGYBlackRock Enhanced International Dividend Trust15.99%$0.9499.21%
GABBXGabelli Dividend Growth AAA15.98%$2.8540.22%
BDJBlackRock Enhanced Equity Dividend Trust15.90%$1.4972.30%
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PDTJohn Hancock Premium Dividend Fund15.76%$2.0162.66%
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