Eaton Vance Tax-Managed Buy-Write Income Fund
ETBFinancial Services · Stock · monthly payer
Forward Yield
8.12%
Annual Dividend
$1.27
Payout Ratio
44%
5-Yr Growth
-0.4%
Ex-Date
Sep 15, 2026
Frequency
Monthly
Summary
As of September 2026, Eaton Vance Tax-Managed Buy-Write Income Fund (ETB) yields 8.12% ($1.27 per share annually), with a blended fair-value estimate of $25.31 — +64% upside, so it screens as undervalued. Dividend safety grade: C (64/100). 2 years of dividend growth.
Is ETB a good dividend stock?
Yes, with caveatsEaton Vance Tax-Managed Buy-Write Income Fund (ETB) pays a monthly dividend yielding 8.12% ($1.27/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 (44%)
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
- 8.12%
- Payout Ratio
- 44%
- Annual Dividend
- $1.27
- 5-Yr Avg Growth
- -0.4%
- Ex-Dividend Date
- Sep 15, 2026
- Years of Growth
- 2
- Frequency
- monthly
- Beta
- 0.93
- Market Cap
- $458.5M
- P/E Ratio
- 5.4
- 5-Yr Total Return
- -7%
- 52-Week Range
- $13.86 – $15.82
- Dividend Safety
- C · 64/100
- Ever Cut?
- Yes (2023)
Frequently Asked Questions
ETB Price — Last 12 Months
Daily close
Price Return
1 Year
+1%
3 Years
+29%
5 Years
-7%
52-Week Range
$13.86 – $15.82
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is ETB worth?
Undervaluedhigh confidenceOur blended fair-value estimate for Eaton Vance Tax-Managed Buy-Write Income Fund is $25.31 per share, versus a market price of $15.47. That implies 64% of upside — a margin of safety of about 39%.
Fair Value
$25.31
Current Price
$15.47
Upside
+64%
Margin of Safety
39%
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 -0.4% — below our estimate, leaving room for upside if the business executes.
Assumptions: 8.9% discount rate (CAPM), -0.4% stage-1 growth, 2.5% terminal growth, $2.87 EPS, $1.27 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
ETB 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 15, 2026 | — | $0.1060 | regular |
| Aug 14, 2026 | — | $0.1060 | regular |
| Jul 15, 2026 | — | $0.1060 | regular |
| Jun 15, 2026 | — | $0.1060 | regular |
| May 15, 2026 | — | $0.1060 | regular |
| Apr 15, 2026 | — | $0.1060 | regular |
| Mar 16, 2026 | — | $0.1060 | regular |
| Feb 17, 2026 | — | $0.1060 | regular |
| Jan 15, 2026 | — | $0.1060 | regular |
| Dec 15, 2025 | — | $0.1060 | regular |
| Nov 14, 2025 | — | $0.1060 | regular |
| Oct 15, 2025 | — | $0.1060 | regular |
| Sep 15, 2025 | — | $0.1060 | regular |
| Aug 15, 2025 | — | $0.1060 | regular |
Income Calculator
At $1.27 / yr per share
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