Eaton Vance California Municipal Income Trust
CEVFinancial Services · Stock · monthly payer
Forward Yield
6.04%
Annual Dividend
$0.60
Payout Ratio
58%
5-Yr Growth
1.8%
Ex-Date
Sep 14, 2026
Frequency
Monthly
Summary
As of September 2026, Eaton Vance California Municipal Income Trust (CEV) yields 6.04% ($0.60 per share annually), with a blended fair-value estimate of $14.72 — +48% upside, so it screens as undervalued. Dividend safety grade: C (62/100). 2 years of dividend growth.
Is CEV a good dividend stock?
Yes, with caveatsEaton Vance California Municipal Income Trust (CEV) pays a monthly dividend yielding 6.04% ($0.60/yr), with 2 years of growth and a dividend-safety grade of C. It's a solid income payer, but check the caveats below before buying.
Advantages
- Comfortable payout ratio (58%)
Risks
- Cut its dividend in 2023
- Share price is down over the past 5 years
Key Data
- Dividend Yield
- 6.04%
- Payout Ratio
- 58%
- Annual Dividend
- $0.60
- 5-Yr Avg Growth
- 1.8%
- Ex-Dividend Date
- Sep 14, 2026
- Years of Growth
- 2
- Frequency
- monthly
- Beta
- 0.59
- Market Cap
- $69.1M
- P/E Ratio
- 9.4
- 5-Yr Total Return
- -28%
- 52-Week Range
- $9.80 – $10.84
- Dividend Safety
- C · 62/100
- Ever Cut?
- Yes (2023)
Frequently Asked Questions
CEV Price — Last 12 Months
Daily close
Price Return
1 Year
-3%
3 Years
+12%
5 Years
-28%
52-Week Range
$9.80 – $10.84
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is CEV worth?
Undervaluedmedium confidenceOur blended fair-value estimate for Eaton Vance California Municipal Income Trust is $14.72 per share, versus a market price of $9.94. That implies 48% of upside — a margin of safety of about 32%.
Fair Value
$14.72
Current Price
$9.94
Upside
+48%
Margin of Safety
32%
How we get there
Discounted cash flow
Discounts projected free cash flow back to today.
Dividend discount
Discounts the future dividend stream back to today.
Earnings multiple (Graham)
Graham's earnings-multiple formula, anchored to bond yields.
At today's price, the market is pricing in about -10.0% annual free-cash-flow growth. We model 1.2% — below our estimate, leaving room for upside if the business executes.
Assumptions: 7.2% discount rate (CAPM), 1.2% stage-1 growth, 2.5% terminal growth, $1.04 EPS, $0.60 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
CEV Dividend Safety Score
Borderline
SmarterDividends' proprietary score, backtested against which dividends were actually cut over 15+ years (0.78 AUC). It blends a validated cut-risk model (growth streak, cut history) with current payout, cash-flow and debt. Higher is safer · not investment advice.
Dividend Growth
Total dividends per share by year
Dividend History
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| Sep 14, 2026 | — | $0.0500 | regular |
| Aug 13, 2026 | — | $0.0500 | regular |
| Jul 14, 2026 | — | $0.0500 | regular |
| Jun 12, 2026 | — | $0.0500 | regular |
| May 14, 2026 | — | $0.0500 | regular |
| Apr 14, 2026 | — | $0.0500 | regular |
| Mar 13, 2026 | — | $0.0500 | regular |
| Feb 13, 2026 | — | $0.0500 | regular |
| Jan 14, 2026 | — | $0.0500 | regular |
| Dec 12, 2025 | — | $0.0500 | regular |
| Nov 13, 2025 | — | $0.0500 | regular |
| Oct 14, 2025 | — | $0.0500 | regular |
| Sep 12, 2025 | — | $0.0500 | regular |
| Aug 13, 2025 | — | $0.0500 | regular |
Income Calculator
At $0.60 / yr per share
