NYLI MacKay DefinedTerm Muni Opportunities Fund
MMDFinancial Services · Stock · monthly payer
Forward Yield
5.81%
Annual Dividend
$0.81
Payout Ratio
55%
5-Yr Growth
-6.7%
Ex-Date
Sep 15, 2026
Frequency
Monthly
Summary
As of September 2026, NYLI MacKay DefinedTerm Muni Opportunities Fund (MMD) yields 5.81% ($0.81 per share annually), with a blended fair-value estimate of $12.80 — -9% downside, so it screens as fairly valued. Dividend safety grade: C (59/100).
Is MMD a good dividend stock?
Yes, with caveatsNYLI MacKay DefinedTerm Muni Opportunities Fund (MMD) pays a monthly dividend yielding 5.81% ($0.81/yr), with 0 years of growth and a dividend-safety grade of C. It's a solid income payer, but check the caveats below before buying.
Advantages
- Comfortable payout ratio (55%)
Risks
- Cut its dividend in 2024
- Dividend has been shrinking, not growing
- Share price is down over the past 5 years
Key Data
- Dividend Yield
- 5.81%
- Payout Ratio
- 55%
- Annual Dividend
- $0.81
- 5-Yr Avg Growth
- -6.7%
- Ex-Dividend Date
- Sep 15, 2026
- Years of Growth
- 0
- Frequency
- monthly
- Beta
- 0.58
- Market Cap
- $258.5M
- P/E Ratio
- 9.9
- 5-Yr Total Return
- -34%
- 52-Week Range
- $14.05 – $15.82
- Dividend Safety
- C · 59/100
- Ever Cut?
- Yes (2024)
Frequently Asked Questions
MMD Price — Last 12 Months
Daily close
Price Return
1 Year
-7%
3 Years
-2%
5 Years
-34%
52-Week Range
$14.05 – $15.82
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is MMD worth?
Fairly valuedmedium confidenceOur blended fair-value estimate for NYLI MacKay DefinedTerm Muni Opportunities Fund is $12.80 per share, versus a market price of $14.08. That implies the stock is roughly fairly priced.
Fair Value
$12.80
Current Price
$14.08
Gap
-9%
Margin of Safety
-10%
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.
At today's price, the market is pricing in about -10.0% annual free-cash-flow growth. We model -5.0% — below our estimate, leaving room for upside if the business executes.
Assumptions: 7.2% discount rate (CAPM), -5.0% stage-1 growth, 2.5% terminal growth, $1.39 EPS, $0.81 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
MMD 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
Full MMD dividend history →| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| Sep 15, 2026 | — | $0.0680 | regular |
| Aug 14, 2026 | — | $0.0680 | regular |
| Jul 15, 2026 | — | $0.0680 | regular |
| Jun 15, 2026 | — | $0.0680 | regular |
| May 15, 2026 | — | $0.0680 | regular |
| Apr 15, 2026 | — | $0.0680 | regular |
| Mar 16, 2026 | — | $0.0650 | regular |
| Feb 13, 2026 | — | $0.0650 | regular |
| Jan 15, 2026 | — | $0.0650 | regular |
| Dec 15, 2025 | — | $0.0600 | regular |
| Nov 14, 2025 | — | $0.0600 | regular |
| Oct 15, 2025 | — | $0.0600 | regular |
| Sep 15, 2025 | — | $0.0600 | regular |
| Aug 15, 2025 | — | $0.0600 | regular |
Income Calculator
At $0.81 / yr per share
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