BNY Mellon Strategic Municipals, Inc.
LEOFinancial Services · Stock · monthly payer
Forward Yield
6.08%
Annual Dividend
$0.36
Payout Ratio
141%
5-Yr Growth
-9.4%
Ex-Date
Sep 14, 2026
Frequency
Monthly
Summary
As of September 2026, BNY Mellon Strategic Municipals, Inc. (LEO) yields 6.08% ($0.36 per share annually), with a blended fair-value estimate of $12.38 — +109% upside, so it screens as undervalued. Dividend safety grade: C (53/100). 1 years of dividend growth.
Is LEO a good dividend stock?
MixedBNY Mellon Strategic Municipals, Inc. (LEO) pays a monthly dividend yielding 6.08% ($0.36/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 2024
- Elevated payout ratio (141%)
- Dividend has been shrinking, not growing
- Share price is down over the past 5 years
Key Data
- Dividend Yield
- 6.08%
- Payout Ratio
- 141%
- Annual Dividend
- $0.36
- 5-Yr Avg Growth
- -9.4%
- Ex-Dividend Date
- Sep 14, 2026
- Years of Growth
- 1
- Frequency
- monthly
- Beta
- 0.62
- Market Cap
- $368.8M
- P/E Ratio
- 29.6
- 5-Yr Total Return
- -32%
- 52-Week Range
- $5.92 – $6.55
- Dividend Safety
- C · 53/100
- Ever Cut?
- Yes (2024)
Frequently Asked Questions
LEO Price — Last 12 Months
Daily close
Price Return
1 Year
-5%
3 Years
+11%
5 Years
-32%
52-Week Range
$5.92 – $6.55
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is LEO worth?
Undervaluedlow confidenceOur blended fair-value estimate for BNY Mellon Strategic Municipals, Inc. is $12.38 per share, versus a market price of $5.92. That implies 109% of upside — a margin of safety of about 52%.
Fair Value
$12.38
Current Price
$5.92
Upside
+109%
Margin of Safety
52%
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 0.8% annual free-cash-flow growth. We model 20.0% — below our estimate, leaving room for upside if the business executes.
Assumptions: 7.4% discount rate (CAPM), 20.0% stage-1 growth, 2.5% terminal growth, $0.20 EPS, $0.36 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
LEO 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 |
|---|---|---|---|
| Aug 13, 2026 | — | $0.0300 | regular |
| Jul 14, 2026 | — | $0.0300 | regular |
| Jun 11, 2026 | — | $0.0300 | regular |
| May 13, 2026 | — | $0.0260 | regular |
| Apr 14, 2026 | — | $0.0260 | regular |
| Mar 12, 2026 | — | $0.0260 | regular |
| Feb 12, 2026 | — | $0.0260 | regular |
| Jan 14, 2026 | — | $0.0230 | regular |
| Dec 11, 2025 | — | $0.0230 | regular |
| Nov 14, 2025 | — | $0.0230 | regular |
| Oct 14, 2025 | — | $0.0230 | regular |
| Sep 12, 2025 | — | $0.0230 | regular |
| Aug 13, 2025 | — | $0.0230 | regular |
| Jul 14, 2025 | — | $0.0230 | regular |
Income Calculator
At $0.36 / yr per share
