SmarterDividends
HIX

Western Asset High Income Fund II Inc.

HIX

Financial Services · Asset Management · Stock · monthly payer

$3.35

Undervalued · +85% Add to Portfolio

Forward Yield

17.55%

Annual Dividend

$0.59

Payout Ratio

117%

5-Yr Growth

0.0%

Ex-Date

Nov 20, 2026

Frequency

Monthly

Key facts about HIX's dividend

Data as of · Source: SmarterDividends data

  • As of Oct 27, 2026, Western Asset High Income Fund II Inc. (HIX) has a forward dividend yield of 17.55%, based on an annual dividend of $0.59 per share and a share price of $3.35.
  • As of Oct 27, 2026, HIX's dividend safety grade from SmarterDividends is C (63 out of 100), which rates the dividend as borderline.
  • HIX last cut its regular dividend in 2018.
  • HIX's next ex-dividend date is Nov 20, 2026, with payment on Nov 30, 2026. Shares must be owned before that date to receive the dividend.
  • As of Oct 27, 2026, HIX pays out 117% of its trailing 12-month earnings as dividends (its payout ratio).
  • HIX's dividend has been roughly flat over the past five years.
  • As of Oct 27, 2026, HIX's 17.55% yield is 50% above its five-year average yield of 11.71%.
  • As of Oct 27, 2026, SmarterDividends' blended fair-value estimate for HIX is $6.21 per share, 85% above the $3.35 share price, so HIX screens as undervalued.
  • Western Asset High Income Fund II Inc. (HIX) pays its dividend monthly, 12 times a year.
  • Western Asset High Income Fund II Inc. (HIX) has raised its regular dividend 10 times and cut it 23 times across the 337 payments on record since 1998. Its most recent change was a 4.3% increase to $0.0490 per share, going ex-dividend on Dec 19, 2019. The last cut went ex-dividend on Dec 21, 2017.
Cite this page

SmarterDividends, "HIX Dividend: Yield, Safety Grade & Next Ex-Date," updated Oct 27, 2026, https://smarterdividends.com/stocks/HIX

Summary

As of Oct 27, 2026, Western Asset High Income Fund II Inc. (HIX) yields 17.55% ($0.59 a year per share) and has a dividend safety grade of C (63/100).

Is HIX a good dividend stock?

Yes, with caveats

Western Asset High Income Fund II Inc. (HIX) pays a monthly dividend yielding 17.55% ($0.59/yr), with 0 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 2018
    • Elevated payout ratio (117%)
    • Very high yield can signal elevated risk
    • Share price is down over the past 5 years

    Key Data

    Dividend Yield
    17.55%
    Payout Ratio
    117%
    Annual Dividend
    $0.59
    5-Yr Avg Growth
    0.0%
    Ex-Dividend Date
    Nov 20, 2026
    Years of Growth
    0
    Frequency
    monthly
    Beta
    0.93
    Market Cap
    $301.7M
    P/E Ratio
    6.7
    5-Yr Total Return
    -52%
    52-Week Range
    $3.34 – $4.33
    Dividend Safety
    C · 63/100
    Ever Cut?
    Yes (2018)

    HIX dividend raises and cuts

    Western Asset High Income Fund II Inc. (HIX) has raised its regular dividend 10 times and cut it 23 times across the 337 payments on record since 1998. Its most recent change was a 4.3% increase to $0.0490 per share, going ex-dividend on Dec 19, 2019. The last cut went ex-dividend on Dec 21, 2017.

    Ex-dateChangeOld → newMove
    Dec 19, 2019Raise$0.0470 → $0.0490+4.3%
    Jun 20, 2019Raise$0.0460 → $0.0470+2.2%
    Dec 21, 2017Cut$0.0490 → $0.0460−6.1%
    Sep 21, 2017Cut$0.0500 → $0.0490−2.0%
    Jun 21, 2017Cut$0.0530 → $0.0500−5.7%
    Mar 22, 2017Cut$0.0540 → $0.0530−1.9%
    Dec 21, 2016Cut$0.0570 → $0.0540−5.3%
    Sep 21, 2016Cut$0.0620 → $0.0570−8.1%
    Jun 15, 2016Cut$0.0670 → $0.0620−7.5%
    Mar 16, 2016Cut$0.0690 → $0.0670−2.9%
    Jun 18, 2014Cut$0.0700 → $0.0690−1.4%
    Mar 19, 2014Cut$0.0730 → $0.0700−4.1%
    Show all 33 changes since 1998
    Ex-dateChangeOld → newMove
    Dec 18, 2013Cut$0.0750 → $0.0730−2.7%
    Jun 19, 2013Cut$0.0770 → $0.0750−2.6%
    Mar 13, 2013Cut$0.0800 → $0.0770−3.8%
    Dec 12, 2012Cut$0.0830 → $0.0800−3.6%
    Sep 21, 2011Cut$0.0850 → $0.0830−2.4%
    Sep 15, 2010Cut$0.0900 → $0.0850−5.6%
    Jun 16, 2010Cut$0.0950 → $0.0900−5.3%
    Jun 18, 2008Raise$0.0850 → $0.0950+11.8%
    Dec 19, 2007Raise$0.0800 → $0.0850+6.3%
    Sep 19, 2007Raise$0.0780 → $0.0800+2.6%
    Mar 21, 2007Raise$0.0750 → $0.0780+4.0%
    Sep 20, 2006Raise$0.0700 → $0.0750+7.1%
    Mar 24, 2006Cut$0.0750 → $0.0700−6.7%
    Sep 9, 2005Cut$0.0800 → $0.0750−6.3%
    Jun 10, 2005Cut$0.0950 → $0.0800−15.8%
    Sep 10, 2004Cut$0.115 → $0.0950−17.4%
    May 11, 2001Cut$0.130 → $0.115−11.5%
    Mar 10, 2000Raise$0.115 → $0.130+13.0%
    Jul 9, 1999Raise$0.115 → $0.116+0.9%
    Apr 9, 1999Cut$0.182 → $0.115−36.8%
    Dec 11, 1998Raise$0.115 → $0.182+58.3%
    Every HIX payment →Download every raise and cut (CSV)
    HIX ex-dividend date & scheduleNext ex-date Nov 20, 2026 · full ex-dividend historyView →HIX dividend historyEvery payment, totals by year, raises and cutsView →

    Frequently Asked Questions

    Is HIX a good dividend stock?

    Yes, with caveats. Western Asset High Income Fund II Inc. (HIX) pays a monthly dividend yielding 17.55% ($0.59/yr), with 0 years of growth and a dividend-safety grade of C. It's a solid income payer, but check the caveats below before buying.

    Is HIX undervalued?

    Based on a blend of discounted cash flow, a dividend-discount model and an earnings-multiple estimate, HIX's fair value is about $6.21 versus a $3.35 share price — so it looks undervalued (+85% vs. fair value).

    Is HIX's dividend safe?

    HIX has a dividend-safety grade of C (63/100), based on its payout coverage, free-cash-flow, 0-year growth streak, a dividend cut in 2018, debt and yield-versus-history.

    What is HIX's fair value?

    Our blended fair-value estimate for HIX is about $6.21 per share, roughly 85% above the current $3.35 price — combining a discounted cash flow, a dividend-discount model and an earnings multiple.

    Is HIX a buy, hold, or sell?

    We don't issue formal ratings, but on the data HIX screens as "yes, with caveats" and undervalued. Western Asset High Income Fund II Inc. (HIX) pays a monthly dividend yielding 17.55% ($0.59/yr), with 0 years 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 HIX cut its dividend?

    HIX earns a dividend-safety grade of C (63/100), and has cut its dividend before (last in 2018). A higher score means lower cut risk based on payout coverage, cash flow and history — but no score guarantees a dividend.

    Does HIX pay a dividend?

    Yes. Western Asset High Income Fund II Inc. pays a monthly dividend of about $0.59 per share annually, a forward yield of roughly 17.55%.

    What is HIX's dividend yield?

    As of Oct 27, 2026, HIX's forward dividend yield is 17.55%, based on a $0.59 annual dividend and a $3.35 share price.

    What is HIX's dividend per share?

    As of Oct 27, 2026, HIX pays $0.59 per share per year, distributed on a monthly basis.

    What is HIX's dividend payout ratio?

    As of Oct 27, 2026, HIX's payout ratio is 117% of trailing 12-month earnings — an elevated level worth watching, as it leaves less cushion if earnings dip.

    How many years has HIX grown its dividend?

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

    When is the next HIX ex-dividend date?

    As of Oct 27, 2026, the next ex-dividend date on record for HIX is Nov 20, 2026.

    Income Calculator

    At $0.59 / yr per share

    Per payment (monthly)$4.92
    Annual$59.00
    Monthly avg$4.92

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