Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund
ETWFinancial Services · Stock · monthly payer
Forward Yield
8.27%
Annual Dividend
$0.80
Payout Ratio
39%
5-Yr Growth
-2.0%
Ex-Date
Sep 15, 2026
Frequency
Monthly
Summary
As of September 2026, Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund (ETW) yields 8.27% ($0.80 per share annually), with a blended fair-value estimate of $14.03 — +46% upside, so it screens as undervalued. Dividend safety grade: B (66/100). 2 years of dividend growth.
Is ETW a good dividend stock?
Yes, with caveatsEaton Vance Tax-Managed Global Buy-Write Opportunities Fund (ETW) pays a monthly dividend yielding 8.27% ($0.80/yr), with 2 years of growth and a dividend-safety grade of B. It's a solid income payer, but check the caveats below before buying.
Advantages
- Comfortable payout ratio (39%)
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
- 8.27%
- Payout Ratio
- 39%
- Annual Dividend
- $0.80
- 5-Yr Avg Growth
- -2.0%
- Ex-Dividend Date
- Sep 15, 2026
- Years of Growth
- 2
- Frequency
- monthly
- Beta
- 0.84
- Market Cap
- $1.0B
- P/E Ratio
- 4.6
- 5-Yr Total Return
- -13%
- 52-Week Range
- $8.46 – $9.95
- Dividend Safety
- B · 66/100
- Ever Cut?
- Yes (2023)
Frequently Asked Questions
ETW Price — Last 12 Months
Daily close
Price Return
1 Year
+6%
3 Years
+35%
5 Years
-13%
52-Week Range
$8.46 – $9.95
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is ETW worth?
Undervaluedhigh confidenceOur blended fair-value estimate for Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund is $14.03 per share, versus a market price of $9.62. That implies 46% of upside — a margin of safety of about 31%.
Fair Value
$14.03
Current Price
$9.62
Upside
+46%
Margin of Safety
31%
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 -2.0% — below our estimate, leaving room for upside if the business executes.
Assumptions: 8.5% discount rate (CAPM), -2.0% stage-1 growth, 2.5% terminal growth, $2.06 EPS, $0.80 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
ETW Dividend Safety Score
Safe
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
Full ETW dividend history →| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| Sep 15, 2026 | — | $0.0660 | regular |
| Aug 14, 2026 | — | $0.0660 | regular |
| Jul 15, 2026 | — | $0.0660 | regular |
| Jun 15, 2026 | — | $0.0660 | regular |
| May 15, 2026 | — | $0.0660 | regular |
| Apr 15, 2026 | — | $0.0660 | regular |
| Mar 16, 2026 | — | $0.0660 | regular |
| Feb 17, 2026 | — | $0.0660 | regular |
| Jan 15, 2026 | — | $0.0660 | regular |
| Dec 15, 2025 | — | $0.0660 | regular |
| Nov 14, 2025 | — | $0.0660 | regular |
| Oct 15, 2025 | — | $0.0660 | regular |
| Sep 15, 2025 | — | $0.0660 | regular |
| Aug 15, 2025 | — | $0.0660 | regular |
Income Calculator
At $0.80 / yr per share
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