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Definitive Analysis

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Page: Dividend Discount Model

Credit Suisse High Yield Bond Fund, Inc.

Ticker: DHY | Industry: Asset Management - Bonds | Sector: Financial Services
$2.02 +0.01 (0.50%)
As of: 2026-01-15

Master Data Export


Dividend Discount Models Snapshot

ModelRangeSelected
Stable Growth DDM$14.31 - $37.27$21.38
Multi-Stage DDM$5.33 - $5.82$5.57
Blended Fair Value$13.48
Stock Price$2.00

Dividend History (Last 10 Years)

Metric2024202320222021202020192018201720162015
DPS0.1850.1860.1860.1900.2000.2280.2010.2660.2860.289
YoY %-0.39%0.00%-2.02%-5.23%-12.31%13.40%-24.40%-6.76%-0.99%3.51%
Yield9.264%9.300%9.300%9.492%10.015%11.421%10.071%13.322%14.289%14.431%

CAGRValue
5 Year-4.10%
10 Year-4.01%

Discounted Dividend Model - Stable Growth

MetricRangeSelected
LT Growth5.50% to 7.50%6.50%
WACC9.00%9.00%
Fair Value$14.31 - $37.27$21.38

Calculation Details (Millions)

MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(*) Adjusted Net Income37.4637.4637.46
(=) Cash Required7.494.682.81
Cash Retained37.4637.4637.46
(-) Cash Required-7.49-4.68-2.81
(=) Excess Retained29.9732.7834.65
(/) Shares Outstanding103,513,735103,513,735103,513,735
(=) Excess Retained per Share0.290.320.33
LTM Dividend per Share0.1850.1850.185
(+) Excess Retained per Share0.290.320.33
(=) Adjusted Dividend0.4750.5020.520

Multi-Stage Projections (BASE Case - Millions)

MetricTTMYear 1Year 2Year 3Year 4Year 5
Net Income37.4639.9042.4945.2648.2051.33
Payout Ratio51.2%25.0%41.0%57.0%73.0%90.0%
Projected Dividends19.189.9717.4225.8035.1846.20

Multi-Stage Valuation (Millions)

Present ValuesLOWBASEHIGH
Year 1 PV9.469.559.64
Year 2 PV15.0215.3115.60
Year 3 PV20.2220.8021.39
Year 4 PV25.0626.0227.01
Year 5 PV29.9031.3532.85
TV PV451.65473.47496.12
Equity Value551.32576.50602.61
Fair Value$5.33$5.57$5.82
Stock Price$2.00$2.00$2.00

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