Eaton Vance Municipal Income Trust
EVNFinancial Services · Stock · monthly payer
Forward Yield
6.03%
Annual Dividend
$0.62
Payout Ratio
66%
5-Yr Growth
1.7%
Ex-Date
Sep 14, 2026
Frequency
Monthly
Summary
As of September 2026, Eaton Vance Municipal Income Trust (EVN) yields 6.03% ($0.62 per share annually), with a blended fair-value estimate of $16.69 — +65% upside, so it screens as undervalued. Dividend safety grade: C (62/100). 2 years of dividend growth.
Is EVN a good dividend stock?
Yes, with caveatsEaton Vance Municipal Income Trust (EVN) pays a monthly dividend yielding 6.03% ($0.62/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
- Share price is down over the past 5 years
Key Data
- Dividend Yield
- 6.03%
- Payout Ratio
- 66%
- Annual Dividend
- $0.62
- 5-Yr Avg Growth
- 1.7%
- Ex-Dividend Date
- Sep 14, 2026
- Years of Growth
- 2
- Frequency
- monthly
- Beta
- 0.64
- Market Cap
- $407.6M
- P/E Ratio
- 11.0
- 5-Yr Total Return
- -25%
- 52-Week Range
- $10.09 – $11.26
- Dividend Safety
- C · 62/100
- Ever Cut?
- Yes (2023)
Frequently Asked Questions
EVN Price — Last 12 Months
Daily close
Price Return
1 Year
-8%
3 Years
+15%
5 Years
-25%
52-Week Range
$10.09 – $11.26
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is EVN worth?
Undervaluedhigh confidenceOur blended fair-value estimate for Eaton Vance Municipal Income Trust is $16.69 per share, versus a market price of $10.12. That implies 65% of upside — a margin of safety of about 39%.
Fair Value
$16.69
Current Price
$10.12
Upside
+65%
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 -1.9% annual free-cash-flow growth. We model 6.3% — below our estimate, leaving room for upside if the business executes.
Assumptions: 7.5% discount rate (CAPM), 6.3% stage-1 growth, 2.5% terminal growth, $0.93 EPS, $0.62 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
EVN 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 | — | $0.0510 | regular |
| Aug 13, 2026 | — | $0.0510 | regular |
| Jul 14, 2026 | — | $0.0510 | regular |
| Jun 12, 2026 | — | $0.0510 | regular |
| May 14, 2026 | — | $0.0510 | regular |
| Apr 14, 2026 | — | $0.0510 | regular |
| Mar 13, 2026 | — | $0.0510 | regular |
| Feb 13, 2026 | — | $0.0510 | regular |
| Jan 14, 2026 | — | $0.0510 | regular |
| Dec 12, 2025 | — | $0.0510 | regular |
| Nov 13, 2025 | — | $0.0510 | regular |
| Oct 14, 2025 | — | $0.0510 | regular |
| Sep 12, 2025 | — | $0.0510 | regular |
| Aug 13, 2025 | — | $0.0510 | regular |
Income Calculator
At $0.62 / yr per share
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