SmarterDividends
FMN

Federated Hermes Premier Municipal Income Fund

FMN

Financial Services · Asset Management · Stock · monthly payer

$9.97

Fairly valued · -12% Add to Portfolio

Forward Yield

5.36%

Annual Dividend

$0.51

Payout Ratio

47%

5-Yr Growth

-3.5%

Ex-Date

Oct 23, 2026

Frequency

Monthly

Key facts about FMN's dividend

Data as of · Source: SmarterDividends data

  • As of Oct 15, 2026, Federated Hermes Premier Municipal Income Fund (FMN) has a forward dividend yield of 5.36%, based on an annual dividend of $0.51 per share and a share price of $9.97.
  • As of Oct 15, 2026, FMN's dividend safety grade from SmarterDividends is C (61 out of 100), which rates the dividend as borderline.
  • FMN last cut its regular dividend in 2023.
  • FMN's next ex-dividend date is Oct 23, 2026, with payment on Nov 2, 2026. Shares must be owned before that date to receive the dividend.
  • As of Oct 15, 2026, FMN pays out 47% of its trailing 12-month earnings as dividends (its payout ratio).
  • FMN's dividend has shrunk at an average rate of 3.5% a year over the past five years.
  • As of Oct 15, 2026, FMN's 5.36% yield is 22% above its five-year average yield of 4.39%.
  • As of Oct 15, 2026, SmarterDividends' blended fair-value estimate for FMN is $8.78 per share, 12% below the $9.97 share price, so FMN screens as fairly valued.
  • Federated Hermes Premier Municipal Income Fund (FMN) pays its dividend monthly, 12 times a year.
Cite this page

SmarterDividends, "FMN Dividend: Yield, Safety Grade & Next Ex-Date," updated Oct 15, 2026, https://smarterdividends.com/stocks/FMN

Summary

As of Oct 15, 2026, Federated Hermes Premier Municipal Income Fund (FMN) yields 5.36% ($0.51 a year per share) and has a dividend safety grade of C (61/100).

Is FMN a good dividend stock?

Yes, with caveats

Federated Hermes Premier Municipal Income Fund (FMN) pays a monthly dividend yielding 5.36% ($0.51/yr), with 1 year 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
5.36%
Payout Ratio
47%
Annual Dividend
$0.51
5-Yr Avg Growth
-3.5%
Ex-Dividend Date
Oct 23, 2026
Years of Growth
1
Frequency
monthly
Beta
0.61
Market Cap
$78.0M
P/E Ratio
8.7
5-Yr Total Return
-32%
52-Week Range
$9.77 – $11.76
Dividend Safety
C · 61/100
Ever Cut?
Yes (2023)
FMN ex-dividend date & scheduleNext ex-date Oct 23, 2026 · full ex-dividend historyView →FMN dividend historyEvery payment, totals by year, raises and cutsView →

Frequently Asked Questions

Is FMN a good dividend stock?

Yes, with caveats. Federated Hermes Premier Municipal Income Fund (FMN) pays a monthly dividend yielding 5.36% ($0.51/yr), with 1 year of growth and a dividend-safety grade of C. It's a solid income payer, but check the caveats below before buying.

Is FMN undervalued?

Based on a blend of discounted cash flow, a dividend-discount model and an earnings-multiple estimate, FMN's fair value is about $8.78 versus a $9.97 share price — so it looks fairly valued (-12% vs. fair value).

Is FMN's dividend safe?

FMN has a dividend-safety grade of C (61/100), based on its payout coverage, free-cash-flow, 1-year growth streak, a dividend cut in 2023, debt and yield-versus-history.

What is FMN's fair value?

Our blended fair-value estimate for FMN is about $8.78 per share, about 12% below the current $9.97 price — combining a discounted cash flow, a dividend-discount model and an earnings multiple.

Is FMN a buy, hold, or sell?

We don't issue formal ratings, but on the data FMN screens as "yes, with caveats" and fairly valued. Federated Hermes Premier Municipal Income Fund (FMN) pays a monthly dividend yielding 5.36% ($0.51/yr), with 1 year of growth and a dividend-safety grade of C. It's a solid income payer, but check the caveats below before buying. This is research for your own analysis, not investment advice.

Will FMN cut its dividend?

FMN earns a dividend-safety grade of C (61/100), and has cut its dividend before (last in 2023). A higher score means lower cut risk based on payout coverage, cash flow and history — but no score guarantees a dividend.

Does FMN pay a dividend?

Yes. Federated Hermes Premier Municipal Income Fund pays a monthly dividend of about $0.51 per share annually, a forward yield of roughly 5.36%.

What is FMN's dividend yield?

As of Oct 15, 2026, FMN's forward dividend yield is 5.36%, based on a $0.51 annual dividend and a $9.97 share price.

What is FMN's dividend per share?

As of Oct 15, 2026, FMN pays $0.51 per share per year, distributed on a monthly basis.

What is FMN's dividend payout ratio?

As of Oct 15, 2026, FMN's payout ratio is 47% of trailing 12-month earnings — a comfortable level that leaves room to keep raising the dividend.

How many years has FMN grown its dividend?

As of Oct 15, 2026, FMN has increased its dividend for 1 consecutive years.

When is the next FMN ex-dividend date?

As of Oct 15, 2026, the next ex-dividend date on record for FMN is Oct 23, 2026.

Income Calculator

At $0.51 / yr per share

Per payment (monthly)$4.21
Annual$50.50
Monthly avg$4.21

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