SmarterDividends
MFA

MFA Financial, Inc.

MFA

Real Estate · REIT - Mortgage · Stock · quarterly payer

$6.64

Undervalued · +147% Add to Portfolio

Forward Yield

21.69%

Annual Dividend

$1.44

Payout Ratio

143%

5-Yr Growth

7.6%

Ex-Date

Oct 5, 2026

Frequency

Quarterly

Key facts about MFA's dividend

Data as of · Source: SmarterDividends data

  • As of Oct 27, 2026, MFA Financial, Inc. (MFA) has a forward dividend yield of 21.69%, based on an annual dividend of $1.44 per share and a share price of $6.64.
  • As of Oct 27, 2026, MFA's dividend safety grade from SmarterDividends is D (44 out of 100), which rates the dividend as unsafe.
  • MFA last cut its regular dividend in 2023.
  • MFA's most recent ex-dividend date was Oct 5, 2026, for a dividend of $0.36 per share.
  • As of Oct 27, 2026, MFA pays out 143% of its trailing 12-month earnings as dividends (its payout ratio).
  • MFA's dividend has grown at an average rate of 7.6% a year over the past five years.
  • As of Oct 27, 2026, MFA's 21.69% yield is 74% above its five-year average yield of 12.47%.
  • As of Oct 27, 2026, SmarterDividends' blended fair-value estimate for MFA is $16.40 per share, 147% above the $6.64 share price, so MFA screens as undervalued.
  • MFA Financial, Inc. (MFA) pays its dividend quarterly, 4 times a year.
  • MFA Financial, Inc. (MFA) has raised its regular dividend 29 times and cut it 19 times across the 115 payments on record since 1998. Its most recent change was a 2.9% increase to $0.360 per share, going ex-dividend on Mar 31, 2025. The last cut went ex-dividend on Dec 29, 2022.
Cite this page

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

Summary

As of Oct 27, 2026, MFA Financial, Inc. (MFA) yields 21.69% ($1.44 a year per share) and has a dividend safety grade of D (44/100).

Is MFA a good dividend stock?

Mixed

MFA Financial, Inc. (MFA) pays a quarterly dividend yielding 21.69% ($1.44/yr), with 1 year of growth and a dividend-safety grade of D. The picture is mixed — the dividend pays, but safety or growth signals are weaker than ideal.

Advantages

  • Strong 7.6% 5-yr dividend growth

Risks

  • Cut its dividend in 2023
  • Elevated payout ratio (143%)
  • Very high yield can signal elevated risk
  • Share price is down over the past 5 years
  • Below-average dividend safety score

Key Data

Dividend Yield
21.69%
Payout Ratio
143%
Annual Dividend
$1.44
5-Yr Avg Growth
7.6%
Ex-Dividend Date
Oct 5, 2026
Years of Growth
1
Frequency
quarterly
Beta
1.52
Market Cap
$671.2M
P/E Ratio
6.6
5-Yr Total Return
-61%
52-Week Range
$6.38 – $10.43
Dividend Safety
D · 44/100
Ever Cut?
Yes (2023)

MFA dividend raises and cuts

MFA Financial, Inc. (MFA) has raised its regular dividend 29 times and cut it 19 times across the 115 payments on record since 1998. Its most recent change was a 2.9% increase to $0.360 per share, going ex-dividend on Mar 31, 2025. The last cut went ex-dividend on Dec 29, 2022.

Ex-dateChangeOld → newMove
Mar 31, 2025Raise$0.350 → $0.360+2.9%
Dec 29, 2022Cut$0.440 → $0.350−20.5%
Dec 30, 2021Raise$0.400 → $0.440+10.0%
Jun 29, 2021Raise$0.300 → $0.400+33.3%
Dec 29, 2020Raise$0.200 → $0.300+50.0%
Sep 29, 2020Cut$0.800 → $0.200−75.0%
Dec 27, 2013Cut$0.880 → $0.800−9.1%
Apr 10, 2013Raise$0.800 → $0.880+10.0%
Dec 26, 2012Cut$0.840 → $0.800−4.8%
Oct 10, 2012Cut$0.920 → $0.840−8.7%
Jul 11, 2012Cut$0.960 → $0.920−4.2%
Apr 2, 2012Cut$1.08 → $0.960−11.1%
Show all 48 changes since 1999
Ex-dateChangeOld → newMove
Dec 28, 2011Raise$1.00 → $1.08+8.0%
Jul 12, 2011Raise$0.940 → $1.00+6.4%
Dec 29, 2010Raise$0.900 → $0.940+4.4%
Oct 7, 2010Raise$0.760 → $0.900+18.4%
Jul 8, 2010Cut$0.960 → $0.760−20.8%
Apr 8, 2010Cut$1.08 → $0.960−11.1%
Dec 29, 2009Raise$1.00 → $1.08+8.0%
Jul 9, 2009Raise$0.880 → $1.00+13.6%
Apr 8, 2009Raise$0.840 → $0.880+4.8%
Dec 29, 2008Cut$0.880 → $0.840−4.5%
Oct 9, 2008Raise$0.800 → $0.880+10.0%
Jul 10, 2008Raise$0.720 → $0.800+11.1%
Apr 10, 2008Raise$0.580 → $0.720+24.1%
Dec 27, 2007Raise$0.400 → $0.580+45.0%
Oct 10, 2007Raise$0.360 → $0.400+11.1%
Jul 11, 2007Raise$0.320 → $0.360+12.5%
Apr 11, 2007Raise$0.240 → $0.320+33.3%
Dec 27, 2006Raise$0.200 → $0.240+20.0%
Oct 12, 2005Cut$0.500 → $0.200−60.0%
Jul 8, 2005Cut$0.720 → $0.500−30.6%
Apr 8, 2005Cut$0.880 → $0.720−18.2%
Dec 22, 2004Cut$0.920 → $0.880−4.3%
Oct 7, 2004Cut$1.00 → $0.920−8.0%
Jul 8, 2004Cut$1.04 → $1.00−3.8%
Apr 7, 2004Raise$1.00 → $1.04+4.0%
Dec 26, 2003Cut$1.12 → $1.00−10.7%
Mar 26, 2003Cut$1.28 → $1.12−12.5%
Dec 26, 2002Raise$1.20 → $1.28+6.7%
Mar 26, 2002Raise$1.12 → $1.20+7.1%
Dec 26, 2001Raise$0.900 → $1.12+24.4%
Sep 28, 2001Raise$0.700 → $0.900+28.6%
Jun 27, 2001Raise$0.660 → $0.700+6.1%
Apr 11, 2001Raise$0.620 → $0.660+6.5%
Oct 12, 2000Raise$0.560 → $0.620+10.7%
Sep 28, 1999Raise$0.500 → $0.560+12.0%
Jun 28, 1999Cut$1.06 → $0.500−52.8%
Every MFA payment →Download every raise and cut (CSV)
MFA ex-dividend date & scheduleNext ex-date Oct 5, 2026 · full ex-dividend historyView →MFA dividend historyEvery payment, totals by year, raises and cutsView →

Frequently Asked Questions

Is MFA a good dividend stock?

Mixed. MFA Financial, Inc. (MFA) pays a quarterly dividend yielding 21.69% ($1.44/yr), with 1 year of growth and a dividend-safety grade of D. The picture is mixed — the dividend pays, but safety or growth signals are weaker than ideal.

Is MFA undervalued?

Based on a blend of discounted cash flow, a dividend-discount model and an earnings-multiple estimate, MFA's fair value is about $16.40 versus a $6.64 share price — so it looks undervalued (+147% vs. fair value).

Is MFA's dividend safe?

MFA has a dividend-safety grade of D (44/100), based on its payout coverage, free-cash-flow, 1-year growth streak, a dividend cut in 2023, debt and yield-versus-history.

What is MFA's fair value?

Our blended fair-value estimate for MFA is about $16.40 per share, roughly 147% above the current $6.64 price — combining a discounted cash flow, a dividend-discount model and an earnings multiple.

Is MFA a buy, hold, or sell?

We don't issue formal ratings, but on the data MFA screens as "mixed" and undervalued. MFA Financial, Inc. (MFA) pays a quarterly dividend yielding 21.69% ($1.44/yr), with 1 year of growth and a dividend-safety grade of D. 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 MFA cut its dividend?

MFA earns a dividend-safety grade of D (44/100), and has cut its dividend before (last in 2023). A higher score means lower cut risk based on payout coverage, cash flow and history — but no score guarantees a dividend.

Does MFA pay a dividend?

Yes. MFA Financial, Inc. pays a quarterly dividend of about $1.44 per share annually, a forward yield of roughly 21.69%.

What is MFA's dividend yield?

As of Oct 27, 2026, MFA's forward dividend yield is 21.69%, based on a $1.44 annual dividend and a $6.64 share price.

What is MFA's dividend per share?

As of Oct 27, 2026, MFA pays $1.44 per share per year, distributed on a quarterly basis.

What is MFA's dividend payout ratio?

As of Oct 27, 2026, MFA's payout ratio is 143% of trailing 12-month earnings — an elevated level worth watching, as it leaves less cushion if earnings dip.

How many years has MFA grown its dividend?

As of Oct 27, 2026, MFA has increased its dividend for 1 consecutive years.

When is the next MFA ex-dividend date?

As of Oct 27, 2026, MFA's next ex-dividend date hasn't been announced. The most recent was Oct 5, 2026, for $0.36 per share.

Income Calculator

At $1.44 / yr per share

Per payment (quarterly)$36.00
Annual$144.00
Monthly avg$12.00

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