Western Asset Premier Bond Fund (WEA)
Financial Services · NYQ
Fundamentals
Valuation and ratings
Western Asset Premier Bond Fund trades at USD10.36, which is 125% below the USD23.36 our discounted cash flow model puts on the business. On that measure alone it screens as undervalued, though a DCF is an argument rather than a measurement, and the market is frequently right about why something is cheap.
Our moat model scores it 62 out of 100, which is a moat, but not a deep one. A moat is a structural reason competitors cannot take the profits away, and it matters more to a long holding period than any single quarter's numbers do.
It changes hands at 9.1 times earnings. Be careful reading that in isolation: for a cyclical business a low P/E arrives at the top of the cycle, when profits are peaking and about to fall, which is exactly when the shares look cheapest and are not.
WEA dividend history
Dividends per share by year
| Year | Total per share | Payments |
|---|---|---|
| 2026 (year to date) | USD0.280 | 4 |
| 2025 | USD0.840 | 12 |
| 2024 | USD0.840 | 12 |
| 2023 | USD0.804 | 12 |
| 2022 | USD0.792 | 12 |
| 2021 | USD0.792 | 12 |
| 2020 | USD0.792 | 12 |
| 2019 | USD0.787 | 12 |
| 2018 | USD0.786 | 12 |
| 2017 | USD0.871 | 12 |
| 2016 | USD1.03 | 12 |
Split-adjusted amounts in the listing currency, grouped by the calendar year of the ex-dividend date, from the filed record. Growth and streak figures compare complete years only.
About Western Asset Premier Bond Fund
Western Asset Premier Bond Fund is a closed-ended fixed income mutual fund launched and managed by Western Asset Management Company. The fund is co-managed by Western Asset Management Company Limited, Western Asset Management Company Pte. Ltd., and Western Asset Management Company Ltd. It invests in the fixed income markets of the United States. The fund primarily invests in investment grade bonds, including corporate bonds, U.S. government and agency securities, and mortgage related securities. It seeks to maintain an average duration of around two to three years with an average credit quality of BBB. The fund benchmarks the performance of its portfolio against the Barclays Capital U.S. Corporate High Yield Index and the Barclays Capital U.S. Credit Index. Western Asset Premier Bond Fund was formed on March 28, 2002 and is domiciled in the United States.
WEA passes 6 of our 30 screens today
Each screen prints the exact criteria it used, and the circumstances in which it is wrong.
Common questions
Is Western Asset Premier Bond Fund (WEA) undervalued?
Against our discounted cash flow estimate of USD23.36, WEA at USD10.36 is 125% below fair value. That is one model's answer, not a recommendation, and most of a DCF's output sits in a terminal value nobody can forecast.
What is WEA's P/E ratio?
WEA trades at 9.1 times earnings. A low P/E is not automatically cheap: on a cyclical company it is usually a warning that earnings are at a peak.
Does Western Asset Premier Bond Fund (WEA) pay a dividend?
Yes. Western Asset Premier Bond Fund yields 7.90% at the current share price. It has paid USD0.630 per share over the trailing twelve months. It has paid a dividend in each of the last 24 complete calendar years. A dividend is declared by the board and can be cut at any time; a yield is a fact about the current price, not a promise.
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Data from company filings, exchange quotes and SEC EDGAR 13F disclosures. Quotes are delayed. Metrics we do not have are left out rather than estimated. Educational information, not financial advice.