Federated Hermes Premier Municipal Income Fund
FMNFinancial Services · Stock · monthly payer
Forward Yield
4.74%
Annual Dividend
$0.54
Payout Ratio
425%
5-Yr Growth
-3.5%
Ex-Date
Jul 23, 2026
Frequency
Monthly
Summary
As of July 2026, Federated Hermes Premier Municipal Income Fund (FMN) yields 4.74% ($0.54 per share annually), with a blended fair-value estimate of $9.41 — -17% downside, so it screens as overvalued. Dividend safety grade: C (53/100). 1 years of dividend growth.
Is FMN a good dividend stock?
MixedFederated Hermes Premier Municipal Income Fund (FMN) pays a monthly dividend yielding 4.74% ($0.54/yr), with 1 year of growth and a dividend-safety grade of C. The picture is mixed — the dividend pays, but safety or growth signals are weaker than ideal.
Advantages
Risks
- Cut its dividend in 2023
- Elevated payout ratio (425%)
- Dividend has been shrinking, not growing
- Share price is down over the past 5 years
Key Data
- Dividend Yield
- 4.74%
- Payout Ratio
- 425%
- Annual Dividend
- $0.54
- 5-Yr Avg Growth
- -3.5%
- Ex-Dividend Date
- Jul 23, 2026
- Years of Growth
- 1
- Frequency
- monthly
- Beta
- 0.60
- Market Cap
- $89.0M
- P/E Ratio
- 94.8
- 5-Yr Total Return
- -28%
- 52-Week Range
- $10.40 – $11.76
- Dividend Safety
- C · 53/100
- Ever Cut?
- Yes (2023)
Frequently Asked Questions
FMN Price — Last 12 Months
Daily close
Price Return
1 Year
+7%
3 Years
+11%
5 Years
-28%
52-Week Range
$10.40 – $11.76
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is FMN worth?
Overvaluedlow confidenceOur blended fair-value estimate for Federated Hermes Premier Municipal Income Fund is $9.41 per share, versus a market price of $11.40. That implies 17% of downside.
Fair Value
$9.41
Current Price
$11.40
Downside
-17%
Margin of Safety
-21%
How we get there
Dividend discount
Discounts the future dividend stream back to today.
At today's price, the market is pricing in about -10.0% annual free-cash-flow growth. We model -2.1% — below our estimate, leaving room for upside if the business executes.
Assumptions: 7.3% discount rate (CAPM), -2.1% stage-1 growth, 2.5% terminal growth, $0.12 EPS, $0.54 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
FMN 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 |
|---|---|---|---|
| Jun 23, 2026 | — | $0.0450 | regular |
| May 22, 2026 | — | $0.0450 | regular |
| Apr 23, 2026 | — | $0.0450 | regular |
| Mar 23, 2026 | — | $0.0450 | regular |
| Feb 23, 2026 | — | $0.0450 | regular |
| Jan 23, 2026 | — | $0.0450 | regular |
| Dec 23, 2025 | — | $0.0450 | regular |
| Nov 21, 2025 | — | $0.0450 | regular |
| Oct 23, 2025 | — | $0.0450 | regular |
| Sep 23, 2025 | — | $0.0450 | regular |
| Aug 22, 2025 | — | $0.0450 | regular |
| Jul 23, 2025 | — | $0.0450 | regular |
| Jun 23, 2025 | — | $0.0450 | regular |
| May 23, 2025 | — | $0.0400 | regular |
Income Calculator
At $0.54 / yr per share
