Invesco Value Municipal Income Trust
IIMFinancial Services · Stock · monthly payer
Forward Yield
7.72%
Annual Dividend
$0.93
Payout Ratio
231%
5-Yr Growth
5.7%
Ex-Date
Sep 14, 2026
Frequency
Monthly
Summary
As of September 2026, Invesco Value Municipal Income Trust (IIM) yields 7.72% ($0.93 per share annually), with a blended fair-value estimate of $14.96 — +25% upside, so it screens as undervalued. Dividend safety grade: C (54/100). 2 years of dividend growth.
Is IIM a good dividend stock?
MixedInvesco Value Municipal Income Trust (IIM) pays a monthly dividend yielding 7.72% ($0.93/yr), with 2 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
- Strong 5.7% 5-yr dividend growth
Risks
- Cut its dividend in 2023
- Elevated payout ratio (231%)
- Share price is down over the past 5 years
Key Data
- Dividend Yield
- 7.72%
- Payout Ratio
- 231%
- Annual Dividend
- $0.93
- 5-Yr Avg Growth
- 5.7%
- Ex-Dividend Date
- Sep 14, 2026
- Years of Growth
- 2
- Frequency
- monthly
- Beta
- 0.77
- Market Cap
- $563.8M
- P/E Ratio
- 29.9
- 5-Yr Total Return
- -26%
- 52-Week Range
- $11.84 – $13.17
- Dividend Safety
- C · 54/100
- Ever Cut?
- Yes (2023)
Frequently Asked Questions
IIM Price — Last 12 Months
Daily close
Price Return
1 Year
-6%
3 Years
+20%
5 Years
-26%
52-Week Range
$11.84 – $13.17
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is IIM worth?
Undervaluedmedium confidenceOur blended fair-value estimate for Invesco Value Municipal Income Trust is $14.96 per share, versus a market price of $11.99. That implies 25% of upside — a margin of safety of about 20%.
Fair Value
$14.96
Current Price
$11.99
Upside
+25%
Margin of Safety
20%
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 1.6% annual free-cash-flow growth. We model 6.0% — below our estimate, leaving room for upside if the business executes.
Assumptions: 8.1% discount rate (CAPM), 6.0% stage-1 growth, 2.5% terminal growth, $0.40 EPS, $0.93 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
IIM 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 | — | $0.0770 | regular |
| Aug 17, 2026 | — | $0.0770 | regular |
| Jul 14, 2026 | — | $0.0770 | regular |
| Jun 15, 2026 | — | $0.0770 | regular |
| May 14, 2026 | — | $0.0770 | regular |
| Apr 14, 2026 | — | $0.0770 | regular |
| Mar 16, 2026 | — | $0.0770 | regular |
| Feb 17, 2026 | — | $0.0770 | regular |
| Jan 15, 2026 | — | $0.0770 | regular |
| Dec 16, 2025 | — | $0.0770 | regular |
| Nov 17, 2025 | — | $0.0770 | regular |
| Oct 16, 2025 | — | $0.0770 | regular |
| Sep 16, 2025 | — | $0.0770 | regular |
| Aug 18, 2025 | — | $0.0770 | regular |
Income Calculator
At $0.93 / yr per share
