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Definitive Analysis

Financial Statements

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Page: Dividend Discount Model

Assurant, Inc. 5.25% Subordinat

Ticker: AIZN | Industry: Insurance - Diversified | Sector: Financial Services
$20.69 +0.11 (0.53%)
As of: 2026-01-23

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Dividend Discount Models Snapshot

ModelRangeSelected
Stable Growth DDM$438.01 - $1,170.91$665.22
Multi-Stage DDM$212.75 - $232.55$222.47
Blended Fair Value$443.84
Stock Price$19.75

Dividend History (Last 10 Years)

Metric2024202320222021202020192018201720162015
DPS2.9652.8322.7422.6212.4472.4302.2472.1512.0241.364
YoY %4.70%3.28%4.60%7.12%0.71%8.13%4.44%6.31%48.33%28.79%
Yield15.012%14.338%13.882%13.272%12.390%12.302%11.377%10.894%10.247%6.908%

CAGRValue
5 Year4.06%
10 Year10.84%

Discounted Dividend Model - Stable Growth

MetricRangeSelected
LT Growth5.50% to 7.50%6.50%
WACC9.00%9.00%
Fair Value$438.01 - $1,170.91$665.22

Calculation Details (Millions)

MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(*) Adjusted Net Income760.20760.20760.20
(=) Cash Required152.0495.0357.02
Cash Retained760.20760.20760.20
(-) Cash Required-152.04-95.03-57.02
(=) Excess Retained608.16665.18703.19
(/) Shares Outstanding52,581,10252,581,10252,581,102
(=) Excess Retained per Share11.5712.6513.37
LTM Dividend per Share2.9652.9652.965
(+) Excess Retained per Share11.5712.6513.37
(=) Adjusted Dividend14.53115.61516.338

Multi-Stage Projections (BASE Case - Millions)

MetricTTMYear 1Year 2Year 3Year 4Year 5
Net Income760.20809.61862.24918.28977.971,041.54
Payout Ratio20.5%25.0%41.0%57.0%73.0%90.0%
Projected Dividends155.90202.40353.52523.42713.92937.39

Multi-Stage Valuation (Millions)

Present ValuesLOWBASEHIGH
Year 1 PV192.05193.87195.69
Year 2 PV304.84310.65316.51
Year 3 PV410.20421.97433.97
Year 4 PV508.47528.03548.14
Year 5 PV606.76636.06666.49
TV PV9,164.549,607.1910,066.78
Equity Value11,186.8611,697.7712,227.58
Fair Value$212.75$222.47$232.55
Stock Price$19.75$19.75$19.75

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