Eaton Vance Tax-Managed Buy-Write Opportunities Fund
ETVFinancial Services · Stock · monthly payer
Forward Yield
7.82%
Annual Dividend
$1.19
Payout Ratio
47%
5-Yr Growth
-2.3%
Ex-Date
Sep 15, 2026
Frequency
Monthly
Summary
As of September 2026, Eaton Vance Tax-Managed Buy-Write Opportunities Fund (ETV) yields 7.82% ($1.19 per share annually), with a blended fair-value estimate of $17.96 — +18% upside, so it screens as undervalued. Dividend safety grade: C (64/100). 2 years of dividend growth.
Is ETV a good dividend stock?
Yes, with caveatsEaton Vance Tax-Managed Buy-Write Opportunities Fund (ETV) pays a monthly dividend yielding 7.82% ($1.19/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 (47%)
Risks
- Cut its dividend in 2023
- Dividend has been shrinking, not growing
- Share price is down over the past 5 years
Key Data
- Dividend Yield
- 7.82%
- Payout Ratio
- 47%
- Annual Dividend
- $1.19
- 5-Yr Avg Growth
- -2.3%
- Ex-Dividend Date
- Sep 15, 2026
- Years of Growth
- 2
- Frequency
- monthly
- Beta
- 0.85
- Market Cap
- $1.8B
- P/E Ratio
- 6.0
- 5-Yr Total Return
- -8%
- 52-Week Range
- $13.13 – $15.49
- Dividend Safety
- C · 64/100
- Ever Cut?
- Yes (2023)
Frequently Asked Questions
ETV Price — Last 12 Months
Daily close
Price Return
1 Year
+5%
3 Years
+35%
5 Years
-8%
52-Week Range
$13.13 – $15.49
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is ETV worth?
Undervaluedmedium confidenceOur blended fair-value estimate for Eaton Vance Tax-Managed Buy-Write Opportunities Fund is $17.96 per share, versus a market price of $15.24. That implies 18% of upside — a margin of safety of about 15%.
Fair Value
$17.96
Current Price
$15.24
Upside
+18%
Margin of Safety
15%
How we get there
Dividend discount
Discounts the future dividend stream back to today.
Earnings multiple (Graham)
Graham's earnings-multiple formula, anchored to bond yields.
Assumptions: 8.5% discount rate (CAPM), -2.3% stage-1 growth, 2.5% terminal growth, $2.52 EPS, $1.19 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
ETV 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 | — | $0.0990 | regular |
| Aug 14, 2026 | — | $0.0990 | regular |
| Jul 15, 2026 | — | $0.0990 | regular |
| Jun 15, 2026 | — | $0.0990 | regular |
| May 15, 2026 | — | $0.0990 | regular |
| Apr 15, 2026 | — | $0.0990 | regular |
| Mar 16, 2026 | — | $0.0990 | regular |
| Feb 17, 2026 | — | $0.0990 | regular |
| Jan 15, 2026 | — | $0.0990 | regular |
| Dec 15, 2025 | — | $0.0990 | regular |
| Nov 14, 2025 | — | $0.0990 | regular |
| Oct 15, 2025 | — | $0.0990 | regular |
| Sep 15, 2025 | — | $0.0990 | regular |
| Aug 15, 2025 | — | $0.0990 | regular |
Income Calculator
At $1.19 / yr per share
