Western Asset Emerging Markets Debt Fund Inc.
EMDFinancial Services · Stock · monthly payer
Forward Yield
11.40%
Annual Dividend
$1.14
Payout Ratio
72%
5-Yr Growth
-1.1%
Ex-Date
Sep 23, 2026
Frequency
Monthly
Summary
As of September 2026, Western Asset Emerging Markets Debt Fund Inc. (EMD) yields 11.40% ($1.14 per share annually), with a blended fair-value estimate of $13.77 — +38% upside, so it screens as undervalued. Dividend safety grade: C (59/100). 2 years of dividend growth.
Is EMD a good dividend stock?
Yes, with caveatsWestern Asset Emerging Markets Debt Fund Inc. (EMD) pays a monthly dividend yielding 11.40% ($1.14/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
Risks
- Cut its dividend in 2023
- Dividend has been shrinking, not growing
- Very high yield can signal elevated risk
- Share price is down over the past 5 years
Key Data
- Dividend Yield
- 11.40%
- Payout Ratio
- 72%
- Annual Dividend
- $1.14
- 5-Yr Avg Growth
- -1.1%
- Ex-Dividend Date
- Sep 23, 2026
- Years of Growth
- 2
- Frequency
- monthly
- Beta
- 0.83
- Market Cap
- $581.9M
- P/E Ratio
- 6.3
- 5-Yr Total Return
- -27%
- 52-Week Range
- $9.60 – $11.30
- Dividend Safety
- C · 59/100
- Ever Cut?
- Yes (2023)
Frequently Asked Questions
EMD Price — Last 12 Months
Daily close
Price Return
1 Year
-5%
3 Years
+24%
5 Years
-27%
52-Week Range
$9.60 – $11.30
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is EMD worth?
Undervaluedhigh confidenceOur blended fair-value estimate for Western Asset Emerging Markets Debt Fund Inc. is $13.77 per share, versus a market price of $10.00. That implies 38% of upside — a margin of safety of about 27%.
Fair Value
$13.77
Current Price
$10.00
Upside
+38%
Margin of Safety
27%
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 -4.7% annual free-cash-flow growth. We model -1.0% — below our estimate, leaving room for upside if the business executes.
Assumptions: 8.4% discount rate (CAPM), -1.0% stage-1 growth, 2.5% terminal growth, $1.58 EPS, $1.14 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
EMD 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 |
|---|---|---|---|
| Aug 24, 2026 | — | $0.0950 | regular |
| Jul 24, 2026 | — | $0.0950 | regular |
| Jun 23, 2026 | — | $0.0950 | regular |
| May 21, 2026 | — | $0.0950 | regular |
| Apr 23, 2026 | — | $0.0950 | regular |
| Mar 24, 2026 | — | $0.0950 | regular |
| Feb 20, 2026 | — | $0.0950 | regular |
| Jan 23, 2026 | — | $0.0950 | regular |
| Dec 23, 2025 | — | $0.0950 | regular |
| Nov 20, 2025 | — | $0.0950 | regular |
| Oct 24, 2025 | — | $0.0950 | regular |
| Sep 23, 2025 | — | $0.0950 | regular |
| Aug 22, 2025 | — | $0.0950 | regular |
| Jul 24, 2025 | — | $0.0950 | regular |
Income Calculator
At $1.14 / yr per share
