SmarterDividends
HFRO

Highland Funds I - Highland Opportunities and Income Fund (HFRO) Dividend

Highland Funds I - Highland Opportunities and Income Fund · Financial Services · Asset Management · monthly payer

$6.03

Fairly valued · -0% Add to Portfolio

As of Nov 8, 2026, Highland Funds I - Highland Opportunities and Income Fund (HFRO) pays a monthly dividend of $0.0390 per share, or $0.46 a year, a 7.66% yield at its $6.03 share price. The next ex-dividend date is Nov 23, 2026, paid Dec 7, 2026. It has a dividend safety grade of C.

Forward Yield

7.66%

Annual Dividend

$0.46

Payout Ratio

924%

5-Yr Growth

-12.7%

Ex-Date

Nov 23, 2026

Frequency

Monthly

Key facts about HFRO's dividend

Data as of · Source: SmarterDividends data

  • As of Nov 8, 2026, Highland Funds I - Highland Opportunities and Income Fund (HFRO) has a forward dividend yield of 7.66%, based on an annual dividend of $0.46 per share and a share price of $6.03.
  • As of Nov 8, 2026, HFRO's dividend safety grade from SmarterDividends is C (50 out of 100), which rates the dividend as borderline.
  • HFRO last cut its regular dividend in 2024.
  • HFRO's next ex-dividend date is Nov 23, 2026, with payment on Dec 7, 2026. Shares must be owned before that date to receive the dividend.
  • HFRO's dividend has shrunk at an average rate of 12.7% a year over the past five years.
  • As of Nov 8, 2026, HFRO's 7.66% yield is 11% below its five-year average yield of 8.60%.
  • As of Nov 8, 2026, SmarterDividends' blended fair-value estimate for HFRO is $6.02 per share, 0% below the $6.03 share price, so HFRO screens as fairly valued.
  • Highland Funds I - Highland Opportunities and Income Fund (HFRO) pays its dividend monthly, 12 times a year.
  • Highland Funds I - Highland Opportunities and Income Fund (HFRO) has raised its regular dividend 0 times and cut it 1 time across the 108 payments on record since 2017. Its most recent change was a 49.4% cut to $0.0390 per share, going ex-dividend on Jan 23, 2024.
Cite this page

SmarterDividends, "HFRO Dividend: Yield, Safety Grade & Next Ex-Date," updated Nov 8, 2026, https://smarterdividends.com/stocks/HFRO

Is HFRO a good dividend stock?

Mixed

Highland Funds I - Highland Opportunities and Income Fund (HFRO) pays a monthly dividend yielding 7.66% ($0.46/yr), with 0 years 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 2024
    • Elevated payout ratio (924%)
    • Dividend has been shrinking, not growing
    • Share price is down over the past 5 years

    Key Data

    Dividend Yield
    7.66%
    Payout Ratio
    924%
    Annual Dividend
    $0.46
    5-Yr Avg Growth
    -12.7%
    Ex-Dividend Date
    Nov 23, 2026
    Years of Growth
    0
    Frequency
    monthly
    Beta
    —
    Market Cap
    $333.0M
    P/E Ratio
    120.6
    5-Yr Total Return
    -46%
    52-Week Range
    $5.47 – $7.74
    Dividend Safety
    C · 50/100
    Ever Cut?
    Yes (2024)

    HFRO dividend raises and cuts

    Highland Funds I - Highland Opportunities and Income Fund (HFRO) has raised its regular dividend 0 times and cut it 1 time across the 108 payments on record since 2017. Its most recent change was a 49.4% cut to $0.0390 per share, going ex-dividend on Jan 23, 2024.

    Ex-dateChangeOld → newMove
    Jan 23, 2024Cut$0.0770 → $0.0390−49.4%
    Every HFRO payment →Download every raise and cut (CSV)
    HFRO ex-dividend date & scheduleNext ex-date Nov 23, 2026 · full ex-dividend historyView →HFRO dividend historyEvery payment, totals by year, raises and cutsView →HFRO dividend calculator100 shares pay $46.00 a year, $3.83 each monthCalculate →HFRO total return calculatorWhat $10,000 became, with dividends reinvested or taken as cashSee →

    Frequently Asked Questions

    Is HFRO a good dividend stock?

    Mixed. Highland Funds I - Highland Opportunities and Income Fund (HFRO) pays a monthly dividend yielding 7.66% ($0.46/yr), with 0 years 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.

    Is HFRO undervalued?

    Based on a blend of discounted cash flow, a dividend-discount model and an earnings-multiple estimate, HFRO's fair value is about $6.02 versus a $6.03 share price — so it looks fairly valued (-0% vs. fair value).

    Is HFRO's dividend safe?

    HFRO has a dividend-safety grade of C (50/100), based on its payout coverage, free-cash-flow, 0-year growth streak, a dividend cut in 2024, debt and yield-versus-history.

    What is HFRO's fair value?

    Our blended fair-value estimate for HFRO is about $6.02 per share, about 0% below the current $6.03 price — combining a discounted cash flow, a dividend-discount model and an earnings multiple.

    Is HFRO a buy, hold, or sell?

    We don't issue formal ratings, but on the data HFRO screens as "mixed" and fairly valued. Highland Funds I - Highland Opportunities and Income Fund (HFRO) pays a monthly dividend yielding 7.66% ($0.46/yr), with 0 years 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. This is research for your own analysis, not investment advice.

    Will HFRO cut its dividend?

    HFRO earns a dividend-safety grade of C (50/100), and has cut its dividend before (last in 2024). A higher score means lower cut risk based on payout coverage, cash flow and history — but no score guarantees a dividend.

    Does HFRO pay a dividend?

    Yes. Highland Funds I - Highland Opportunities and Income Fund pays a monthly dividend of about $0.46 per share annually, a forward yield of roughly 7.66%.

    How much dividend does 100 shares of HFRO pay?

    At $0.46 per share a year, 100 shares of HFRO pay $46.00 a year in dividends before tax, about $3.83 each month. Buying them costs about $603 at the Nov 8, 2026 price.

    What is HFRO's dividend yield?

    As of Nov 8, 2026, HFRO's forward dividend yield is 7.66%, based on a $0.46 annual dividend and a $6.03 share price.

    What is HFRO's dividend per share?

    As of Nov 8, 2026, HFRO pays $0.46 per share per year, distributed on a monthly basis.

    What is HFRO's dividend payout ratio?

    As of Nov 8, 2026, HFRO's payout ratio is 924% of trailing 12-month earnings — an elevated level worth watching, as it leaves less cushion if earnings dip.

    How many years has HFRO grown its dividend?

    HFRO does not currently have a long dividend-growth streak on record.

    When is the next HFRO ex-dividend date?

    As of Nov 8, 2026, the next ex-dividend date on record for HFRO is Nov 23, 2026.

    Income Calculator

    At $0.46 / yr per share

    Per payment (monthly)$3.83
    Annual$46.00
    Monthly avg$3.83
    Full HFRO dividend calculator →

    Similar Dividend Stocks

    JPMJPMJPMorgan Chase & Co.1.97%Financial ServicesVVVisa Inc.0.74%Financial ServicesMAMAMastercard Incorporated0.53%Financial ServicesBACBACBank of America Corporation2.59%Financial Services

    Compare HFRO

    HFRO vs JPMHFRO vs VHFRO vs MAHFRO vs BAC

    Explore more

    Lists and tools related to HFRO