BlackRock MuniYield Michigan Quality Fund (MIY) Dividend

BlackRock MuniYield Michigan Quality Fund, Inc. · Financial Services · Asset Management · monthly payer

$12.39

As of Nov 8, 2026, BlackRock MuniYield Michigan Quality Fund (MIY) pays a monthly dividend of $0.0550 per share, or $0.65 a year, a 5.28% yield at its $12.39 share price. The next ex-dividend date is Nov 13, 2026, paid Nov 27, 2026. It has raised its dividend 2 years in a row and has a dividend safety grade of C.

Forward Yield

5.28%

Annual Dividend

$0.65

Payout Ratio

62%

5-Yr Growth

1.4%

Ex-Date

Nov 13, 2026

Frequency

Monthly

Key facts about MIY's dividend

Data as of Nov 8, 2026 · Source: SmarterDividends data

As of Nov 8, 2026, BlackRock MuniYield Michigan Quality Fund, Inc. (MIY) has a forward dividend yield of 5.28%, based on an annual dividend of $0.65 per share and a share price of $12.39.
As of Nov 8, 2026, MIY's dividend safety grade from SmarterDividends is C (63 out of 100), which rates the dividend as borderline.
By SmarterDividends' count, BlackRock MuniYield Michigan Quality Fund, Inc. (MIY) has raised its dividend for 2 consecutive years as of Nov 8, 2026.
MIY last cut its regular dividend in 2023.
MIY'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 8, 2026, MIY pays out 62% of its trailing 12-month earnings as dividends (its payout ratio).
MIY's dividend has grown at an average rate of 1.4% a year over the past five years.
As of Nov 8, 2026, SmarterDividends' blended fair-value estimate for MIY is $11.29 per share, 9% below the $12.39 share price, so MIY screens as fairly valued.
BlackRock MuniYield Michigan Quality Fund, Inc. (MIY) pays its dividend monthly, 12 times a year.
BlackRock MuniYield Michigan Quality Fund, Inc. (MIY) has raised its regular dividend 46 times and cut it 53 times across the 393 payments on record since 1993. Its most recent change was a 17.0% increase to $0.0550 per share, going ex-dividend on Oct 15, 2024. The last cut went ex-dividend on Mar 14, 2023.

Cite this page

SmarterDividends, "MIY Dividend: Yield, Safety Grade & Next Ex-Date," updated Nov 8, 2026, https://smarterdividends.com/stocks/MIY

Is MIY a good dividend stock?

Yes, with caveats

BlackRock MuniYield Michigan Quality Fund, Inc. (MIY) pays a monthly dividend yielding 5.28% ($0.65/yr), with 2 years of growth and a dividend-safety grade of C. It's a solid income payer, but check the caveats below before buying.

Advantages

Risks

Cut its dividend in 2023
Share price is down over the past 5 years

Key Data

Dividend Yield: 5.28%
Payout Ratio: 62%
Annual Dividend: $0.65
5-Yr Avg Growth: 1.4%
Ex-Dividend Date: Nov 13, 2026
Years of Growth: 2
Frequency: monthly
Beta: 0.52
Market Cap: $359.1M
P/E Ratio: 11.8
5-Yr Total Return: -18%
52-Week Range: $11.01 – $12.90
Dividend Safety: C · 63/100
Ever Cut?: Yes (2023)

MIY dividend raises and cuts

BlackRock MuniYield Michigan Quality Fund, Inc. (MIY) has raised its regular dividend 46 times and cut it 53 times across the 393 payments on record since 1993. Its most recent change was a 17.0% increase to $0.0550 per share, going ex-dividend on Oct 15, 2024. The last cut went ex-dividend on Mar 14, 2023.

Ex-date	Change	Old → new	Move
Oct 15, 2024	Raise	$0.0470 → $0.0550	+17.0%
Dec 14, 2023	Raise	$0.0350 → $0.0470	+34.3%
Mar 14, 2023	Cut	$0.0410 → $0.0350	−14.6%
Dec 15, 2022	Cut	$0.0440 → $0.0410	−6.8%
Oct 13, 2022	Cut	$0.0560 → $0.0440	−21.4%
Oct 14, 2020	Raise	$0.0510 → $0.0560	+9.8%
Jun 12, 2020	Raise	$0.0490 → $0.0510	+4.1%
Jul 12, 2019	Cut	$0.0520 → $0.0490	−5.8%
Jul 13, 2018	Cut	$0.0570 → $0.0520	−8.8%
Jan 12, 2018	Cut	$0.0610 → $0.0570	−6.6%
Dec 11, 2017	Cut	$0.0640 → $0.0610	−4.7%
Jan 11, 2017	Cut	$0.0650 → $0.0640	−1.5%

Show all 99 changes since 1993

Ex-date	Change	Old → new	Move
Dec 8, 2016	Raise	$0.0640 → $0.0650	+1.6%
Jun 13, 2016	Cut	$0.0690 → $0.0640	−7.2%
Jul 13, 2015	Cut	$0.0720 → $0.0690	−4.2%
Jul 11, 2014	Cut	$0.0740 → $0.0720	−2.7%
Jan 13, 2014	Cut	$0.0750 → $0.0740	−1.3%
Dec 11, 2013	Cut	$0.0760 → $0.0750	−1.3%
Oct 11, 2013	Cut	$0.0770 → $0.0760	−1.3%
Sep 12, 2013	Raise	$0.0760 → $0.0770	+1.3%
Jan 11, 2013	Cut	$0.0770 → $0.0760	−1.3%
Sep 13, 2010	Raise	$0.0750 → $0.0770	+2.7%
Dec 11, 2009	Raise	$0.0730 → $0.0750	+2.7%
Sep 11, 2009	Raise	$0.0670 → $0.0730	+9.0%
Jun 11, 2009	Raise	$0.0540 → $0.0670	+24.1%
Jun 12, 2008	Cut	$0.0590 → $0.0540	−8.5%
Dec 13, 2006	Cut	$0.0630 → $0.0590	−6.3%
Jun 9, 2006	Cut	$0.0720 → $0.0630	−12.5%
Jan 13, 2006	Cut	$0.0810 → $0.0720	−11.1%
Jan 14, 2005	Cut	$0.0840 → $0.0810	−3.6%
Feb 11, 2004	Raise	$0.0820 → $0.0840	+2.4%
Feb 12, 2003	Raise	$0.0790 → $0.0820	+3.8%
Aug 15, 2002	Cut	$0.0800 → $0.0790	−1.3%
Jul 16, 2002	Raise	$0.0790 → $0.0800	+1.3%
Apr 15, 2002	Cut	$0.0800 → $0.0790	−1.3%
Feb 13, 2002	Raise	$0.0740 → $0.0800	+8.1%
Oct 12, 2001	Raise	$0.0700 → $0.0740	+5.7%
Aug 16, 2001	Raise	$0.0680 → $0.0700	+2.9%
May 14, 2001	Raise	$0.0660 → $0.0680	+3.0%
Feb 14, 2001	Raise	$0.0650 → $0.0660	+1.5%
Aug 16, 2000	Cut	$0.0660 → $0.0650	−1.5%
May 12, 2000	Raise	$0.0570 → $0.0660	+15.8%
Apr 13, 2000	Cut	$0.0690 → $0.0570	−17.4%
Dec 21, 1999	Cut	$0.0700 → $0.0690	−1.4%
Nov 18, 1999	Raise	$0.0690 → $0.0700	+1.4%
Aug 19, 1999	Raise	$0.0680 → $0.0690	+1.5%
Jul 21, 1999	Cut	$0.0690 → $0.0680	−1.4%
Jun 21, 1999	Raise	$0.0660 → $0.0690	+4.5%
May 19, 1999	Cut	$0.0700 → $0.0660	−5.7%
Apr 20, 1999	Raise	$0.0640 → $0.0700	+9.4%
Mar 22, 1999	Cut	$0.0740 → $0.0640	−13.5%
Feb 17, 1999	Cut	$0.0810 → $0.0740	−8.6%
Jan 20, 1999	Raise	$0.0760 → $0.0810	+6.6%
Nov 18, 1998	Raise	$0.0710 → $0.0760	+7.0%
Sep 18, 1998	Raise	$0.0700 → $0.0710	+1.4%
Aug 19, 1998	Raise	$0.0670 → $0.0700	+4.5%
Jul 21, 1998	Cut	$0.0680 → $0.0670	−1.5%
May 19, 1998	Raise	$0.0650 → $0.0680	+4.6%
Mar 19, 1998	Cut	$0.0720 → $0.0650	−9.7%
Feb 17, 1998	Raise	$0.0710 → $0.0720	+1.4%
Jan 20, 1998	Raise	$0.0680 → $0.0710	+4.4%
Dec 17, 1997	Cut	$0.0710 → $0.0680	−4.2%
Nov 13, 1997	Raise	$0.0690 → $0.0710	+2.9%
Oct 16, 1997	Cut	$0.0700 → $0.0690	−1.4%
Jul 17, 1997	Cut	$0.0720 → $0.0700	−2.8%
Jun 17, 1997	Raise	$0.0680 → $0.0720	+5.9%
May 15, 1997	Cut	$0.0720 → $0.0680	−5.6%
Apr 16, 1997	Raise	$0.0660 → $0.0720	+9.1%
Mar 18, 1997	Cut	$0.0700 → $0.0660	−5.7%
Feb 18, 1997	Cut	$0.0720 → $0.0700	−2.8%
Jan 17, 1997	Raise	$0.0710 → $0.0720	+1.4%
Dec 18, 1996	Cut	$0.0730 → $0.0710	−2.7%
Nov 14, 1996	Raise	$0.0700 → $0.0730	+4.3%
Oct 17, 1996	Cut	$0.0720 → $0.0700	−2.8%
Jul 18, 1996	Cut	$0.0740 → $0.0720	−2.7%
Jun 14, 1996	Raise	$0.0710 → $0.0740	+4.2%
May 17, 1996	Cut	$0.0740 → $0.0710	−4.1%
Apr 17, 1996	Raise	$0.0710 → $0.0740	+4.2%
Mar 15, 1996	Cut	$0.0740 → $0.0710	−4.1%
Feb 15, 1996	Raise	$0.0710 → $0.0740	+4.2%
Jan 17, 1996	Raise	$0.0700 → $0.0710	+1.4%
Dec 20, 1995	Cut	$0.0750 → $0.0700	−6.7%
Nov 21, 1995	Raise	$0.0700 → $0.0750	+7.1%
Oct 18, 1995	Cut	$0.0720 → $0.0700	−2.8%
Sep 20, 1995	Cut	$0.0770 → $0.0720	−6.5%
Aug 21, 1995	Raise	$0.0740 → $0.0770	+4.1%
Sep 13, 1994	Cut	$0.0750 → $0.0740	−1.3%
Aug 15, 1994	Raise	$0.0720 → $0.0750	+4.2%
Jul 12, 1994	Cut	$0.0750 → $0.0720	−4.0%
Mar 15, 1994	Cut	$0.0760 → $0.0750	−1.3%
Feb 9, 1994	Cut	$0.0790 → $0.0760	−3.8%
Dec 14, 1993	Cut	$0.0840 → $0.0790	−6.0%
Nov 12, 1993	Raise	$0.0820 → $0.0840	+2.4%
Sep 14, 1993	Raise	$0.0810 → $0.0820	+1.2%
Aug 16, 1993	Raise	$0.0800 → $0.0810	+1.3%
Jul 13, 1993	Cut	$0.0820 → $0.0800	−2.4%
Jun 14, 1993	Raise	$0.0760 → $0.0820	+7.9%
Apr 13, 1993	Cut	$0.0770 → $0.0760	−1.3%
Mar 15, 1993	Cut	$0.0800 → $0.0770	−3.8%

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

MIY ex-dividend date & scheduleNext ex-date Nov 13, 2026 · full ex-dividend historyView →MIY dividend historyEvery payment, totals by year, raises and cutsView →MIY dividend calculator100 shares pay $65.00 a year, $5.42 each monthCalculate →MIY total return calculatorWhat $10,000 became, with dividends reinvested or taken as cashSee →

Frequently Asked Questions

Is MIY a good dividend stock?

Yes, with caveats. BlackRock MuniYield Michigan Quality Fund, Inc. (MIY) pays a monthly dividend yielding 5.28% ($0.65/yr), with 2 years of growth and a dividend-safety grade of C. It's a solid income payer, but check the caveats below before buying.

Is MIY undervalued?

Based on a blend of discounted cash flow, a dividend-discount model and an earnings-multiple estimate, MIY's fair value is about $11.29 versus a $12.39 share price — so it looks fairly valued (-9% vs. fair value).

Is MIY's dividend safe?

MIY has a dividend-safety grade of C (63/100), based on its payout coverage, free-cash-flow, 2-year growth streak, a dividend cut in 2023, debt and yield-versus-history.

What is MIY's fair value?

Our blended fair-value estimate for MIY is about $11.29 per share, about 9% below the current $12.39 price — combining a discounted cash flow, a dividend-discount model and an earnings multiple.

Is MIY a buy, hold, or sell?

We don't issue formal ratings, but on the data MIY screens as "yes, with caveats" and fairly valued. BlackRock MuniYield Michigan Quality Fund, Inc. (MIY) pays a monthly dividend yielding 5.28% ($0.65/yr), with 2 years of growth and a dividend-safety grade of C. It's a solid income payer, but check the caveats below before buying. This is research for your own analysis, not investment advice.

Will MIY cut its dividend?

MIY earns a dividend-safety grade of C (63/100), 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 MIY pay a dividend?

Yes. BlackRock MuniYield Michigan Quality Fund, Inc. pays a monthly dividend of about $0.65 per share annually, a forward yield of roughly 5.28%.

How much dividend does 100 shares of MIY pay?

At $0.65 per share a year, 100 shares of MIY pay $65.00 a year in dividends before tax, about $5.42 each month. Buying them costs about $1,239 at the Nov 8, 2026 price.

What is MIY's dividend yield?

As of Nov 8, 2026, MIY's forward dividend yield is 5.28%, based on a $0.65 annual dividend and a $12.39 share price.

What is MIY's dividend per share?

As of Nov 8, 2026, MIY pays $0.65 per share per year, distributed on a monthly basis.

What is MIY's dividend payout ratio?

As of Nov 8, 2026, MIY's payout ratio is 62% of trailing 12-month earnings — a moderate level that's generally sustainable.

How many years has MIY grown its dividend?

As of Nov 8, 2026, MIY has increased its dividend for 2 consecutive years.

When is the next MIY ex-dividend date?

As of Nov 8, 2026, the next ex-dividend date on record for MIY is Nov 13, 2026.

Dividend Growth

Total dividends per share by year

Dividend History

Full MIY dividend history →

Ex-Date	Pay Date	Amount	Type
Oct 15, 2026	Nov 2, 2026	$0.0550	regular
Sep 15, 2026	Oct 1, 2026	$0.0550	regular
Aug 14, 2026	Sep 1, 2026	$0.0550	regular
Jul 15, 2026	Aug 3, 2026	$0.0550	regular
Jun 15, 2026	Jul 1, 2026	$0.0550	regular
May 15, 2026	Jun 1, 2026	$0.0550	regular
Apr 15, 2026	May 1, 2026	$0.0550	regular
Mar 13, 2026	Apr 1, 2026	$0.0550	regular
Feb 13, 2026	Mar 2, 2026	$0.0550	regular
Jan 20, 2026	Feb 2, 2026	$0.0550	regular
Dec 22, 2025	Dec 31, 2025	$0.0550	regular
Nov 14, 2025	Dec 1, 2025	$0.0550	regular
Oct 15, 2025	Nov 3, 2025	$0.0550	regular
Sep 15, 2025	Oct 1, 2025	$0.0550	regular