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Page: Dividend Discount Model

First Trust Intermediate Duration Preferred & Income Fund

Ticker: FPF | Industry: Asset Management - Income | Sector: Financial Services
$18.88 -0.05 (-0.26%)
As of: 2026-01-15

Master Data Export


Dividend Discount Models Snapshot

ModelRangeSelected
Stable Growth DDM$37.16 - $49.34$43.18
Multi-Stage DDM$41.90 - $46.16$43.99
Blended Fair Value$43.58
Stock Price$18.52

Dividend History (Last 10 Years)

Metric2024202320222021202020192018201720162015
DPS1.6201.3221.5041.5281.5911.7031.7601.8841.9482.107
YoY %22.52%-12.11%-1.53%-3.98%-6.56%-3.26%-6.59%-3.24%-7.59%10.28%
Yield8.750%7.141%8.125%8.251%8.594%9.197%9.507%10.178%10.519%11.383%

CAGRValue
5 Year-0.99%
10 Year-1.64%

Discounted Dividend Model - Stable Growth

MetricRangeSelected
LT Growth-4.51% to -2.51%-3.51%
WACC9.00%9.00%
Fair Value$37.16 - $49.34$43.18

Calculation Details (Millions)

MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(*) Adjusted Net Income276.78276.78276.78
(=) Cash Required55.3634.6020.76
Cash Retained276.78276.78276.78
(-) Cash Required-55.36-34.60-20.76
(=) Excess Retained221.43242.18256.02
(/) Shares Outstanding60,847,82760,847,82760,847,827
(=) Excess Retained per Share3.643.984.21
LTM Dividend per Share1.6201.6201.620
(+) Excess Retained per Share3.643.984.21
(=) Adjusted Dividend5.2595.6005.828

Multi-Stage Projections (BASE Case - Millions)

MetricTTMYear 1Year 2Year 3Year 4Year 5
Net Income276.78267.05257.67248.61239.87231.44
Payout Ratio35.6%25.0%41.0%57.0%73.0%90.0%
Projected Dividends98.5766.76105.64141.71175.11208.30

Multi-Stage Valuation (Millions)

Present ValuesLOWBASEHIGH
Year 1 PV63.2963.9564.61
Year 2 PV90.9292.8394.77
Year 3 PV110.73114.24117.83
Year 4 PV124.23129.51134.97
Year 5 PV134.17141.34148.82
TV PV2,026.452,134.812,247.76
Equity Value2,549.782,676.692,808.75
Fair Value$41.90$43.99$46.16
Stock Price$18.52$18.52$18.52

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