BNY Mellon Strategic Municipals (LEO) Dividend

BNY Mellon Strategic Municipals, Inc. · Financial Services · Asset Management · monthly payer

$6.00

As of Nov 5, 2026, BNY Mellon Strategic Municipals (LEO) pays a monthly dividend of $0.03 per share, or $0.36 a year, a 5.98% yield at its $6.00 share price. The next ex-dividend date is Nov 13, 2026, paid Nov 27, 2026. It has a dividend safety grade of C.

Forward Yield

5.98%

Annual Dividend

$0.36

Payout Ratio

137%

5-Yr Growth

-9.4%

Ex-Date

Nov 13, 2026

Frequency

Monthly

Key facts about LEO's dividend

Data as of Nov 5, 2026 · Source: SmarterDividends data

As of Nov 5, 2026, BNY Mellon Strategic Municipals, Inc. (LEO) has a forward dividend yield of 5.98%, based on an annual dividend of $0.36 per share and a share price of $6.00.
As of Nov 5, 2026, LEO's dividend safety grade from SmarterDividends is C (53 out of 100), which rates the dividend as borderline.
LEO last cut its regular dividend in 2024.
LEO's next ex-dividend date is Nov 13, 2026, with payment on Nov 27, 2026. Shares must be owned before that date to receive the dividend.
As of Nov 5, 2026, LEO pays out 137% of its trailing 12-month earnings as dividends (its payout ratio).
LEO's dividend has shrunk at an average rate of 9.4% a year over the past five years.
As of Nov 5, 2026, LEO's 5.98% yield is 36% above its five-year average yield of 4.40%.
As of Nov 5, 2026, SmarterDividends' blended fair-value estimate for LEO is $8.01 per share, 33% above the $6.00 share price, so LEO screens as undervalued.
BNY Mellon Strategic Municipals, Inc. (LEO) pays its dividend monthly, 12 times a year.
BNY Mellon Strategic Municipals, Inc. (LEO) has raised its regular dividend 12 times and cut it 14 times across the 467 payments on record since 1987. Its most recent change was a 15.4% increase to $0.0300 per share, going ex-dividend on Jun 11, 2026. The last cut went ex-dividend on Aug 9, 2023.

Cite this page

SmarterDividends, "LEO Dividend: Yield, Safety Grade & Next Ex-Date," updated Nov 5, 2026, https://smarterdividends.com/stocks/LEO

Is LEO a good dividend stock?

Mixed

BNY Mellon Strategic Municipals, Inc. (LEO) pays a monthly dividend yielding 5.98% ($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 (137%)
Dividend has been shrinking, not growing
Share price is down over the past 5 years

Key Data

Dividend Yield: 5.98%
Payout Ratio: 137%
Annual Dividend: $0.36
5-Yr Avg Growth: -9.4%
Ex-Dividend Date: Nov 13, 2026
Years of Growth: 1
Frequency: monthly
Beta: 0.63
Market Cap: $373.8M
P/E Ratio: 30.0
5-Yr Total Return: -29%
52-Week Range: $5.41 – $6.55
Dividend Safety: C · 53/100
Ever Cut?: Yes (2024)

LEO dividend raises and cuts

BNY Mellon Strategic Municipals, Inc. (LEO) has raised its regular dividend 12 times and cut it 14 times across the 467 payments on record since 1987. Its most recent change was a 15.4% increase to $0.0300 per share, going ex-dividend on Jun 11, 2026. The last cut went ex-dividend on Aug 9, 2023.

Ex-date	Change	Old → new	Move
Jun 11, 2026	Raise	$0.0260 → $0.0300	+15.4%
Feb 12, 2026	Raise	$0.0230 → $0.0260	+13.0%
Jun 12, 2025	Raise	$0.0190 → $0.0230	+21.1%
Aug 9, 2023	Cut	$0.0230 → $0.0190	−17.4%
Nov 14, 2022	Cut	$0.0300 → $0.0230	−23.3%
Nov 12, 2021	Cut	$0.0350 → $0.0300	−14.3%
Feb 8, 2018	Cut	$0.0430 → $0.0350	−18.6%
Dec 12, 2014	Cut	$0.0490 → $0.0430	−12.2%
Dec 1, 2009	Raise	$0.0420 → $0.0490	+16.7%
Feb 7, 2006	Cut	$0.0460 → $0.0420	−8.7%
Feb 4, 2005	Cut	$0.0510 → $0.0460	−9.8%
Feb 10, 2004	Cut	$0.0600 → $0.0510	−15.0%

Show all 26 changes since 1988

Ex-date	Change	Old → new	Move
Apr 9, 2002	Raise	$0.0510 → $0.0600	+17.6%
Aug 10, 2001	Raise	$0.0460 → $0.0510	+10.9%
Jan 28, 1999	Cut	$0.0510 → $0.0460	−9.8%
Feb 11, 1998	Cut	$0.0570 → $0.0510	−10.5%
Jan 10, 1997	Raise	$0.0560 → $0.0570	+1.8%
Jun 9, 1995	Cut	$0.0610 → $0.0560	−8.2%
Apr 7, 1994	Raise	$0.0600 → $0.0610	+1.7%
Dec 9, 1993	Cut	$0.0610 → $0.0600	−1.6%
Nov 5, 1993	Raise	$0.0600 → $0.0610	+1.7%
Jan 11, 1993	Cut	$0.0610 → $0.0600	−1.6%
Dec 8, 1992	Raise	$0.0600 → $0.0610	+1.7%
Oct 5, 1992	Cut	$0.0650 → $0.0600	−7.7%
Feb 8, 1988	Raise	$0.0620 → $0.0650	+4.8%
Jan 4, 1988	Raise	$0.0610 → $0.0620	+1.6%

Every LEO payment →Download every raise and cut (CSV)

LEO ex-dividend date & scheduleNext ex-date Nov 13, 2026 · full ex-dividend historyView →LEO dividend historyEvery payment, totals by year, raises and cutsView →LEO dividend calculator100 shares pay $36.00 a year, $3.00 each monthCalculate →LEO total return calculatorWhat $10,000 became, with dividends reinvested or taken as cashSee →

Frequently Asked Questions

Is LEO a good dividend stock?

Mixed. BNY Mellon Strategic Municipals, Inc. (LEO) pays a monthly dividend yielding 5.98% ($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.

Is LEO undervalued?

Based on a blend of discounted cash flow, a dividend-discount model and an earnings-multiple estimate, LEO's fair value is about $8.01 versus a $6.00 share price — so it looks undervalued (+33% vs. fair value).

Is LEO's dividend safe?

LEO has a dividend-safety grade of C (53/100), based on its payout coverage, free-cash-flow, 1-year growth streak, a dividend cut in 2024, debt and yield-versus-history.

What is LEO's fair value?

Our blended fair-value estimate for LEO is about $8.01 per share, roughly 33% above the current $6.00 price — combining a discounted cash flow, a dividend-discount model and an earnings multiple.

Is LEO a buy, hold, or sell?

We don't issue formal ratings, but on the data LEO screens as "mixed" and undervalued. BNY Mellon Strategic Municipals, Inc. (LEO) pays a monthly dividend yielding 5.98% ($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. This is research for your own analysis, not investment advice.

Will LEO cut its dividend?

LEO earns a dividend-safety grade of C (53/100), 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 LEO pay a dividend?

Yes. BNY Mellon Strategic Municipals, Inc. pays a monthly dividend of about $0.36 per share annually, a forward yield of roughly 5.98%.

How much dividend does 100 shares of LEO pay?

At $0.36 per share a year, 100 shares of LEO pay $36.00 a year in dividends before tax, about $3.00 each month. Buying them costs about $600 at the Nov 5, 2026 price.

What is LEO's dividend yield?

As of Nov 5, 2026, LEO's forward dividend yield is 5.98%, based on a $0.36 annual dividend and a $6.00 share price.

What is LEO's dividend per share?

As of Nov 5, 2026, LEO pays $0.36 per share per year, distributed on a monthly basis.

What is LEO's dividend payout ratio?

As of Nov 5, 2026, LEO's payout ratio is 137% of trailing 12-month earnings — an elevated level worth watching, as it leaves less cushion if earnings dip.

How many years has LEO grown its dividend?

As of Nov 5, 2026, LEO has increased its dividend for 1 consecutive years.

When is the next LEO ex-dividend date?

As of Nov 5, 2026, the next ex-dividend date on record for LEO is Nov 13, 2026.

Dividend Growth

Total dividends per share by year

Dividend History

Full LEO dividend history →

Ex-Date	Pay Date	Amount	Type
Oct 14, 2026	Oct 30, 2026	$0.0300	regular
Sep 14, 2026	Oct 1, 2026	$0.0300	regular
Aug 13, 2026	Aug 31, 2026	$0.0300	regular
Jul 14, 2026	Jul 31, 2026	$0.0300	regular
Jun 11, 2026	Jun 30, 2026	$0.0300	regular
May 13, 2026	May 29, 2026	$0.0260	regular
Apr 14, 2026	Apr 30, 2026	$0.0260	regular
Mar 12, 2026	Mar 31, 2026	$0.0260	regular
Feb 12, 2026	Feb 27, 2026	$0.0260	regular
Jan 14, 2026	Jan 30, 2026	$0.0230	regular
Dec 11, 2025	Dec 31, 2025	$0.0230	regular
Nov 14, 2025	Dec 1, 2025	$0.0230	regular
Oct 14, 2025	Oct 31, 2025	$0.0230	regular
Sep 12, 2025	Oct 1, 2025	$0.0230	regular