XAI Madison Equity Premium Income Fund
MCNFinancial Services · Stock · monthly payer
Forward Yield
12.86%
Annual Dividend
$0.72
Payout Ratio
232%
5-Yr Growth
-19.7%
Ex-Date
Sep 15, 2026
Frequency
Monthly
Summary
As of September 2026, XAI Madison Equity Premium Income Fund (MCN) yields 12.86% ($0.72 per share annually), with a blended fair-value estimate of $7.42 — +32% upside, so it screens as undervalued. Dividend safety grade: C (54/100).
Is MCN a good dividend stock?
MixedXAI Madison Equity Premium Income Fund (MCN) pays a monthly dividend yielding 12.86% ($0.72/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 2025
- Elevated payout ratio (232%)
- Dividend has been shrinking, not growing
- Very high yield can signal elevated risk
- Share price is down over the past 5 years
Key Data
- Dividend Yield
- 12.86%
- Payout Ratio
- 232%
- Annual Dividend
- $0.72
- 5-Yr Avg Growth
- -19.7%
- Ex-Dividend Date
- Sep 15, 2026
- Years of Growth
- 0
- Frequency
- monthly
- Beta
- 0.68
- Market Cap
- $116.5M
- P/E Ratio
- 17.9
- 5-Yr Total Return
- -29%
- 52-Week Range
- $5.46 – $6.39
- Dividend Safety
- C · 54/100
- Ever Cut?
- Yes (2025)
Frequently Asked Questions
MCN Price — Last 12 Months
Daily close
Price Return
1 Year
-9%
3 Years
-21%
5 Years
-29%
52-Week Range
$5.46 – $6.39
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is MCN worth?
Undervaluedlow confidenceOur blended fair-value estimate for XAI Madison Equity Premium Income Fund is $7.42 per share, versus a market price of $5.60. That implies 32% of upside — a margin of safety of about 25%.
Fair Value
$7.42
Current Price
$5.60
Upside
+32%
Margin of Safety
25%
How we get there
Dividend discount
Discounts the future dividend stream back to today.
Earnings multiple (Graham)
Graham's earnings-multiple formula, anchored to bond yields.
Assumptions: 7.7% discount rate (CAPM), -5.0% stage-1 growth, 2.5% terminal growth, $0.31 EPS, $0.72 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
MCN 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 17, 2026 | — | $0.0600 | regular |
| Jul 15, 2026 | — | $0.0600 | regular |
| Jun 15, 2026 | — | $0.0600 | regular |
| May 15, 2026 | — | $0.0600 | regular |
| Apr 15, 2026 | — | $0.0600 | regular |
| Mar 16, 2026 | — | $0.0600 | regular |
| Feb 17, 2026 | — | $0.0600 | regular |
| Jan 15, 2026 | — | $0.0600 | regular |
| Dec 15, 2025 | — | $0.0600 | regular |
| Nov 17, 2025 | — | $0.0600 | regular |
| Oct 15, 2025 | — | $0.0600 | regular |
| Sep 16, 2025 | — | $0.0600 | regular |
| Aug 15, 2025 | — | $0.0600 | regular |
| Jul 15, 2025 | — | $0.0600 | regular |
Income Calculator
At $0.72 / yr per share
