SmarterDividends
BRW

Saba Capital Income & Opportunities Fund

BRW

Financial Services · Asset Management · Stock · monthly payer

$5.83

Undervalued · +245% Add to Portfolio

Forward Yield

17.50%

Annual Dividend

$1.02

Payout Ratio

132%

5-Yr Growth

21.6%

Ex-Date

Oct 9, 2026

Frequency

Monthly

Key facts about BRW's dividend

Data as of · Source: SmarterDividends data

  • As of Oct 27, 2026, Saba Capital Income & Opportunities Fund (BRW) has a forward dividend yield of 17.50%, based on an annual dividend of $1.02 per share and a share price of $5.83.
  • As of Oct 27, 2026, BRW's dividend safety grade from SmarterDividends is C (54 out of 100), which rates the dividend as borderline.
  • BRW last cut its regular dividend in 2023.
  • BRW's most recent ex-dividend date was Oct 9, 2026, for a dividend of $0.0850 per share.
  • As of Oct 27, 2026, BRW pays out 132% of its trailing 12-month earnings as dividends (its payout ratio).
  • BRW's dividend has grown at an average rate of 21.6% a year over the past five years.
  • As of Oct 27, 2026, BRW's 17.50% yield is 48% above its five-year average yield of 11.84%.
  • As of Oct 27, 2026, SmarterDividends' blended fair-value estimate for BRW is $20.12 per share, 245% above the $5.83 share price, so BRW screens as undervalued.
  • Saba Capital Income & Opportunities Fund (BRW) pays its dividend monthly, 12 times a year.
  • Saba Capital Income & Opportunities Fund (BRW) has raised its regular dividend 107 times and cut it 133 times across the 416 payments on record since 1992. Its most recent change was a 0.8% increase to $0.0850 per share, going ex-dividend on Oct 9, 2025. The last cut went ex-dividend on Jul 10, 2023.
Cite this page

SmarterDividends, "BRW Dividend: Yield, Safety Grade & Next Ex-Date," updated Oct 27, 2026, https://smarterdividends.com/stocks/BRW

Summary

As of Oct 27, 2026, Saba Capital Income & Opportunities Fund (BRW) yields 17.50% ($1.02 a year per share) and has a dividend safety grade of C (54/100).

Is BRW a good dividend stock?

Mixed

Saba Capital Income & Opportunities Fund (BRW) pays a monthly dividend yielding 17.50% ($1.02/yr), with 1 year of growth and a dividend-safety grade of C. The picture is mixed — the dividend pays, but safety or growth signals are weaker than ideal.

Advantages

  • Strong 21.6% 5-yr dividend growth

Risks

  • Cut its dividend in 2023
  • Elevated payout ratio (132%)
  • Very high yield can signal elevated risk
  • Share price is down over the past 5 years

Key Data

Dividend Yield
17.50%
Payout Ratio
132%
Annual Dividend
$1.02
5-Yr Avg Growth
21.6%
Ex-Dividend Date
Oct 9, 2026
Years of Growth
1
Frequency
monthly
Beta
0.41
Market Cap
$296.7M
P/E Ratio
7.6
5-Yr Total Return
-36%
52-Week Range
$5.82 – $7.46
Dividend Safety
C · 54/100
Ever Cut?
Yes (2023)

BRW dividend raises and cuts

Saba Capital Income & Opportunities Fund (BRW) has raised its regular dividend 107 times and cut it 133 times across the 416 payments on record since 1992. Its most recent change was a 0.8% increase to $0.0850 per share, going ex-dividend on Oct 9, 2025. The last cut went ex-dividend on Jul 10, 2023.

Ex-dateChangeOld → newMove
Oct 9, 2025Raise$0.0843 → $0.0850+0.8%
Jul 10, 2023Cut$0.0853 → $0.0843−1.2%
Jun 8, 2023Cut$0.0873 → $0.0853−2.3%
May 8, 2023Raise$0.0863 → $0.0873+1.1%
Apr 10, 2023Cut$0.0883 → $0.0863−2.2%
Feb 8, 2023Raise$0.0863 → $0.0883+2.3%
Dec 9, 2022Raise$0.0853 → $0.0863+1.2%
Nov 8, 2022Cut$0.0873 → $0.0853−2.3%
Oct 7, 2022Cut$0.0903 → $0.0873−3.3%
Sep 8, 2022Raise$0.0883 → $0.0903+2.2%
Aug 8, 2022Cut$0.0893 → $0.0883−1.1%
Jul 8, 2022Cut$0.0913 → $0.0893−2.2%
Show all 240 changes since 1992
Ex-dateChangeOld → newMove
Jun 7, 2022Raise$0.0466 → $0.0913+95.7%
May 23, 2022Cut$0.0933 → $0.0466−50.0%
Apr 8, 2022Cut$0.0952 → $0.0933−2.1%
Jan 7, 2022Raise$0.0655 → $0.0952+45.5%
Jul 9, 2021Raise$0.0139 → $0.0655+371.4%
May 7, 2021Cut$0.0218 → $0.0139−36.4%
Mar 9, 2021Cut$0.0238 → $0.0218−8.3%
Feb 9, 2021Cut$0.0278 → $0.0238−14.3%
Sep 9, 2020Cut$0.0298 → $0.0278−6.7%
Jun 9, 2020Cut$0.0337 → $0.0298−11.8%
May 8, 2020Cut$0.0397 → $0.0337−15.0%
Apr 9, 2020Cut$0.0437 → $0.0397−9.1%
Mar 9, 2020Cut$0.0456 → $0.0437−4.3%
Dec 9, 2019Cut$0.0496 → $0.0456−8.0%
Oct 9, 2019Cut$0.0516 → $0.0496−3.8%
Sep 9, 2019Cut$0.0536 → $0.0516−3.7%
Jul 9, 2019Cut$0.0556 → $0.0536−3.6%
Jun 7, 2019Raise$0.0536 → $0.0556+3.7%
May 9, 2019Cut$0.0556 → $0.0536−3.6%
Apr 9, 2019Raise$0.0516 → $0.0556+7.7%
Mar 8, 2019Cut$0.0536 → $0.0516−3.7%
Dec 28, 2018Raise$0.0516 → $0.0536+3.8%
Dec 7, 2018Cut$0.0536 → $0.0516−3.7%
Nov 8, 2018Raise$0.0496 → $0.0536+8.0%
Aug 9, 2018Raise$0.0476 → $0.0496+4.2%
Apr 9, 2018Raise$0.0417 → $0.0476+14.3%
Mar 9, 2018Cut$0.0456 → $0.0417−8.7%
Feb 9, 2018Raise$0.0437 → $0.0456+4.5%
Nov 9, 2017Cut$0.0456 → $0.0437−4.3%
Oct 6, 2017Cut$0.0476 → $0.0456−4.2%
Sep 8, 2017Cut$0.0496 → $0.0476−4.0%
Jul 6, 2017Cut$0.0516 → $0.0496−3.8%
May 8, 2017Cut$0.0536 → $0.0516−3.7%
Apr 6, 2017Raise$0.0516 → $0.0536+3.8%
Mar 8, 2017Cut$0.0536 → $0.0516−3.7%
Jun 8, 2016Raise$0.0516 → $0.0536+3.8%
May 6, 2016Cut$0.0536 → $0.0516−3.7%
Apr 7, 2016Raise$0.0516 → $0.0536+3.8%
Mar 8, 2016Cut$0.0536 → $0.0516−3.7%
Dec 29, 2015Raise$0.0516 → $0.0536+3.8%
Dec 8, 2015Cut$0.0556 → $0.0516−7.1%
Jul 8, 2015Cut$0.0575 → $0.0556−3.4%
Jun 8, 2015Raise$0.0556 → $0.0575+3.6%
May 7, 2015Cut$0.0575 → $0.0556−3.4%
Apr 8, 2015Raise$0.0536 → $0.0575+7.4%
Mar 6, 2015Cut$0.0575 → $0.0536−6.9%
Nov 6, 2014Raise$0.0556 → $0.0575+3.6%
Jul 8, 2014Cut$0.0575 → $0.0556−3.4%
Jun 6, 2014Cut$0.0595 → $0.0575−3.3%
May 8, 2014Raise$0.0575 → $0.0595+3.4%
Mar 6, 2014Cut$0.0635 → $0.0575−9.4%
Oct 8, 2013Cut$0.0655 → $0.0635−3.0%
Sep 6, 2013Cut$0.0694 → $0.0655−5.7%
Aug 8, 2013Cut$0.0714 → $0.0694−2.8%
Jul 8, 2013Cut$0.0734 → $0.0714−2.7%
May 8, 2013Cut$0.0754 → $0.0734−2.6%
Dec 27, 2012Raise$0.0734 → $0.0754+2.7%
Nov 8, 2012Raise$0.0714 → $0.0734+2.8%
Sep 6, 2012Raise$0.0694 → $0.0714+2.9%
Jun 7, 2012Raise$0.0655 → $0.0694+6.1%
Apr 5, 2012Raise$0.0595 → $0.0655+10.0%
Feb 8, 2012Raise$0.0575 → $0.0595+3.4%
Dec 28, 2011Raise$0.0556 → $0.0575+3.6%
Nov 8, 2011Raise$0.0516 → $0.0556+7.7%
Aug 8, 2011Raise$0.0496 → $0.0516+4.0%
Jul 7, 2011Cut$0.0516 → $0.0496−3.8%
Jun 8, 2011Raise$0.0496 → $0.0516+4.0%
May 6, 2011Cut$0.0516 → $0.0496−3.8%
Apr 7, 2011Raise$0.0476 → $0.0516+8.3%
Mar 8, 2011Cut$0.0496 → $0.0476−4.0%
Feb 8, 2011Cut$0.0516 → $0.0496−3.8%
Nov 8, 2010Cut$0.0536 → $0.0516−3.7%
Oct 7, 2010Cut$0.0556 → $0.0536−3.6%
Jun 8, 2010Raise$0.0516 → $0.0556+7.7%
Apr 8, 2010Raise$0.0496 → $0.0516+4.0%
Dec 8, 2009Cut$0.0556 → $0.0496−10.7%
Nov 6, 2009Cut$0.0635 → $0.0556−12.5%
Aug 6, 2009Raise$0.0437 → $0.0635+45.5%
Jul 8, 2009Cut$0.0456 → $0.0437−4.3%
May 7, 2009Cut$0.0476 → $0.0456−4.2%
Mar 6, 2009Cut$0.0556 → $0.0476−14.3%
Feb 6, 2009Cut$0.0675 → $0.0556−17.6%
Nov 6, 2008Raise$0.0595 → $0.0675+13.3%
Oct 8, 2008Cut$0.0635 → $0.0595−6.2%
Jul 8, 2008Cut$0.0675 → $0.0635−5.9%
May 8, 2008Cut$0.0833 → $0.0675−19.0%
Apr 8, 2008Cut$0.0873 → $0.0833−4.5%
Mar 6, 2008Cut$0.0913 → $0.0873−4.3%
Feb 7, 2008Cut$0.0952 → $0.0913−4.2%
Dec 27, 2007Raise$0.0933 → $0.0952+2.1%
Dec 6, 2007Cut$0.0952 → $0.0933−2.1%
Nov 7, 2007Raise$0.0933 → $0.0952+2.1%
Oct 5, 2007Cut$0.0952 → $0.0933−2.1%
Aug 8, 2007Raise$0.0933 → $0.0952+2.1%
Jul 6, 2007Cut$0.0952 → $0.0933−2.1%
Jun 7, 2007Raise$0.0933 → $0.0952+2.1%
May 8, 2007Cut$0.0952 → $0.0933−2.1%
Apr 5, 2007Raise$0.0893 → $0.0952+6.7%
Mar 8, 2007Cut$0.0952 → $0.0893−6.2%
Dec 27, 2006Raise$0.0933 → $0.0952+2.1%
Dec 7, 2006Cut$0.0952 → $0.0933−2.1%
Nov 8, 2006Raise$0.0933 → $0.0952+2.1%
Oct 5, 2006Cut$0.0952 → $0.0933−2.1%
Aug 8, 2006Raise$0.0913 → $0.0952+4.3%
Jun 8, 2006Raise$0.0893 → $0.0913+2.2%
May 8, 2006Raise$0.0873 → $0.0893+2.3%
Apr 6, 2006Raise$0.0794 → $0.0873+10.0%
Mar 8, 2006Cut$0.0833 → $0.0794−4.8%
Feb 8, 2006Raise$0.0794 → $0.0833+5.0%
Dec 28, 2005Raise$0.0774 → $0.0794+2.6%
Nov 8, 2005Raise$0.0754 → $0.0774+2.6%
Oct 5, 2005Cut$0.0774 → $0.0754−2.6%
Aug 8, 2005Raise$0.0754 → $0.0774+2.6%
Jun 8, 2005Raise$0.0734 → $0.0754+2.7%
Apr 7, 2005Raise$0.0675 → $0.0734+8.8%
Mar 8, 2005Cut$0.0714 → $0.0675−5.6%
Dec 8, 2004Cut$0.0734 → $0.0714−2.7%
Nov 8, 2004Raise$0.0694 → $0.0734+5.7%
Oct 6, 2004Cut$0.0714 → $0.0694−2.8%
Aug 6, 2004Raise$0.0694 → $0.0714+2.9%
Jun 8, 2004Raise$0.0675 → $0.0694+2.9%
May 6, 2004Cut$0.0694 → $0.0675−2.9%
Apr 7, 2004Raise$0.0675 → $0.0694+2.9%
Mar 8, 2004Cut$0.0714 → $0.0675−5.6%
Dec 29, 2003Raise$0.0694 → $0.0714+2.9%
Nov 6, 2003Raise$0.0675 → $0.0694+2.9%
Oct 8, 2003Cut$0.0694 → $0.0675−2.9%
Sep 8, 2003Cut$0.0714 → $0.0694−2.8%
Aug 7, 2003Raise$0.0675 → $0.0714+5.9%
Jul 8, 2003Cut$0.0714 → $0.0675−5.6%
Jun 6, 2003Raise$0.0694 → $0.0714+2.9%
May 8, 2003Cut$0.0714 → $0.0694−2.8%
Apr 8, 2003Raise$0.0655 → $0.0714+9.1%
Mar 6, 2003Cut$0.0734 → $0.0655−10.8%
Feb 6, 2003Cut$0.0774 → $0.0734−5.1%
Sep 6, 2002Cut$0.0813 → $0.0774−4.9%
Aug 8, 2002Raise$0.0694 → $0.0813+17.1%
Jul 8, 2002Cut$0.0734 → $0.0694−5.4%
May 8, 2002Cut$0.0774 → $0.0734−5.1%
Mar 7, 2002Cut$0.0813 → $0.0774−4.9%
Feb 7, 2002Cut$0.0833 → $0.0813−2.4%
Dec 27, 2001Cut$0.0853 → $0.0833−2.3%
Dec 6, 2001Cut$0.0933 → $0.0853−8.5%
Oct 5, 2001Cut$0.103 → $0.0933−9.6%
Sep 6, 2001Cut$0.107 → $0.103−3.7%
Jul 6, 2001Cut$0.115 → $0.107−6.9%
Jun 7, 2001Cut$0.119 → $0.115−3.3%
May 8, 2001Cut$0.129 → $0.119−7.7%
Apr 6, 2001Raise$0.123 → $0.129+4.8%
Mar 8, 2001Cut$0.139 → $0.123−11.4%
Feb 8, 2001Cut$0.145 → $0.139−4.1%
Dec 27, 2000Raise$0.139 → $0.145+4.3%
Dec 7, 2000Cut$0.141 → $0.139−1.4%
Nov 8, 2000Raise$0.139 → $0.141+1.4%
Oct 5, 2000Cut$0.145 → $0.139−4.1%
Aug 8, 2000Raise$0.143 → $0.145+1.4%
Jul 6, 2000Cut$0.149 → $0.143−4.0%
May 8, 2000Raise$0.145 → $0.149+2.7%
Apr 6, 2000Raise$0.133 → $0.145+9.0%
Mar 8, 2000Cut$0.137 → $0.133−2.9%
Feb 8, 2000Raise$0.133 → $0.137+3.0%
Dec 28, 1999Raise$0.125 → $0.133+6.3%
Dec 8, 1999Cut$0.135 → $0.125−7.4%
Nov 8, 1999Raise$0.129 → $0.135+4.6%
Oct 6, 1999Cut$0.133 → $0.129−3.0%
Aug 6, 1999Raise$0.129 → $0.133+3.1%
Jul 8, 1999Cut$0.131 → $0.129−1.5%
Jun 8, 1999Raise$0.125 → $0.131+4.8%
May 6, 1999Cut$0.131 → $0.125−4.5%
Apr 8, 1999Raise$0.117 → $0.131+11.9%
Mar 8, 1999Cut$0.133 → $0.117−11.9%
Feb 8, 1999Cut$0.135 → $0.133−1.5%
Dec 29, 1998Raise$0.133 → $0.135+1.5%
Nov 6, 1998Cut$0.137 → $0.133−2.9%
Sep 8, 1998Cut$0.139 → $0.137−1.4%
Aug 6, 1998Raise$0.135 → $0.139+2.9%
Jul 8, 1998Cut$0.141 → $0.135−4.2%
Jun 8, 1998Raise$0.135 → $0.141+4.4%
May 7, 1998Cut$0.139 → $0.135−2.9%
Apr 8, 1998Raise$0.137 → $0.139+1.4%
Feb 6, 1998Raise$0.135 → $0.137+1.5%
Dec 4, 1997Cut$0.137 → $0.135−1.4%
Nov 6, 1997Raise$0.135 → $0.137+1.5%
Oct 8, 1997Cut$0.137 → $0.135−1.4%
Sep 4, 1997Cut$0.139 → $0.137−1.4%
Aug 7, 1997Raise$0.137 → $0.139+1.4%
Jun 5, 1997Raise$0.135 → $0.137+1.5%
May 8, 1997Cut$0.137 → $0.135−1.4%
Apr 8, 1997Raise$0.125 → $0.137+9.5%
Mar 6, 1997Cut$0.139 → $0.125−10.0%
Nov 7, 1996Raise$0.135 → $0.139+2.9%
Oct 8, 1996Cut$0.139 → $0.135−2.9%
Sep 6, 1996Raise$0.137 → $0.139+1.4%
Aug 8, 1996Raise$0.131 → $0.137+4.5%
Jul 3, 1996Cut$0.137 → $0.131−4.3%
Jun 6, 1996Raise$0.129 → $0.137+6.2%
May 8, 1996Cut$0.135 → $0.129−4.4%
Apr 3, 1996Raise$0.127 → $0.135+6.3%
Mar 7, 1996Cut$0.141 → $0.127−9.9%
Dec 27, 1995Cut$0.143 → $0.141−1.4%
Nov 8, 1995Raise$0.141 → $0.143+1.4%
Oct 4, 1995Cut$0.145 → $0.141−2.7%
Aug 9, 1995Raise$0.143 → $0.145+1.4%
Jul 6, 1995Cut$0.147 → $0.143−2.7%
Jun 8, 1995Raise$0.143 → $0.147+2.8%
May 2, 1995Cut$0.147 → $0.143−2.7%
Apr 4, 1995Raise$0.127 → $0.147+15.6%
Mar 6, 1995Cut$0.139 → $0.127−8.6%
Feb 6, 1995Cut$0.143 → $0.139−2.8%
Dec 23, 1994Raise$0.127 → $0.143+12.5%
Nov 4, 1994Raise$0.123 → $0.127+3.2%
Sep 6, 1994Raise$0.121 → $0.123+1.6%
Aug 4, 1994Raise$0.117 → $0.121+3.4%
Jun 6, 1994Raise$0.107 → $0.117+9.3%
Apr 5, 1994Raise$0.0952 → $0.107+12.5%
Mar 4, 1994Cut$0.0992 → $0.0952−4.0%
Nov 2, 1993Raise$0.0972 → $0.0992+2.0%
Oct 4, 1993Cut$0.0992 → $0.0972−2.0%
Sep 3, 1993Raise$0.0972 → $0.0992+2.0%
Aug 3, 1993Cut$0.0992 → $0.0972−2.0%
Jun 2, 1993Raise$0.0972 → $0.0992+2.0%
May 4, 1993Cut$0.0992 → $0.0972−2.0%
Apr 5, 1993Raise$0.0893 → $0.0992+11.1%
Mar 2, 1993Cut$0.0972 → $0.0893−8.2%
Dec 4, 1992Cut$0.115 → $0.0972−15.5%
Nov 3, 1992Raise$0.101 → $0.115+13.7%
Oct 5, 1992Raise$0.0992 → $0.101+2.0%
Aug 4, 1992Cut$0.101 → $0.0992−2.0%
BRW ex-dividend date & scheduleNext ex-date Oct 9, 2026 · full ex-dividend historyView →BRW dividend historyEvery payment, totals by year, raises and cutsView →

Frequently Asked Questions

Is BRW a good dividend stock?

Mixed. Saba Capital Income & Opportunities Fund (BRW) pays a monthly dividend yielding 17.50% ($1.02/yr), with 1 year of growth and a dividend-safety grade of C. The picture is mixed — the dividend pays, but safety or growth signals are weaker than ideal.

Is BRW undervalued?

Based on a blend of discounted cash flow, a dividend-discount model and an earnings-multiple estimate, BRW's fair value is about $20.12 versus a $5.83 share price — so it looks undervalued (+245% vs. fair value).

Is BRW's dividend safe?

BRW has a dividend-safety grade of C (54/100), based on its payout coverage, free-cash-flow, 1-year growth streak, a dividend cut in 2023, debt and yield-versus-history.

What is BRW's fair value?

Our blended fair-value estimate for BRW is about $20.12 per share, roughly 245% above the current $5.83 price — combining a discounted cash flow, a dividend-discount model and an earnings multiple.

Is BRW a buy, hold, or sell?

We don't issue formal ratings, but on the data BRW screens as "mixed" and undervalued. Saba Capital Income & Opportunities Fund (BRW) pays a monthly dividend yielding 17.50% ($1.02/yr), with 1 year of growth and a dividend-safety grade of C. The picture is mixed — the dividend pays, but safety or growth signals are weaker than ideal. This is research for your own analysis, not investment advice.

Will BRW cut its dividend?

BRW earns a dividend-safety grade of C (54/100), and has cut its dividend before (last in 2023). A higher score means lower cut risk based on payout coverage, cash flow and history — but no score guarantees a dividend.

Does BRW pay a dividend?

Yes. Saba Capital Income & Opportunities Fund pays a monthly dividend of about $1.02 per share annually, a forward yield of roughly 17.50%.

What is BRW's dividend yield?

As of Oct 27, 2026, BRW's forward dividend yield is 17.50%, based on a $1.02 annual dividend and a $5.83 share price.

What is BRW's dividend per share?

As of Oct 27, 2026, BRW pays $1.02 per share per year, distributed on a monthly basis.

What is BRW's dividend payout ratio?

As of Oct 27, 2026, BRW's payout ratio is 132% of trailing 12-month earnings — an elevated level worth watching, as it leaves less cushion if earnings dip.

How many years has BRW grown its dividend?

As of Oct 27, 2026, BRW has increased its dividend for 1 consecutive years.

When is the next BRW ex-dividend date?

As of Oct 27, 2026, BRW's next ex-dividend date hasn't been announced. The most recent was Oct 9, 2026, for $0.0850 per share.