Western Asset Managed Municipals Fund Inc.
MMUFinancial Services · Stock · monthly payer
Forward Yield
7.16%
Annual Dividend
$0.65
Payout Ratio
69%
5-Yr Growth
4.1%
Ex-Date
Oct 23, 2026
Frequency
Monthly
Summary
As of September 2026, Western Asset Managed Municipals Fund Inc. (MMU) yields 7.16% ($0.65 per share annually), with a blended fair-value estimate of $10.54 — +12% upside, so it screens as fairly valued. Dividend safety grade: C (60/100). 2 years of dividend growth.
Is MMU a good dividend stock?
Yes, with caveatsWestern Asset Managed Municipals Fund Inc. (MMU) pays a monthly dividend yielding 7.16% ($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
- 7.16%
- Payout Ratio
- 69%
- Annual Dividend
- $0.65
- 5-Yr Avg Growth
- 4.1%
- Ex-Dividend Date
- Oct 23, 2026
- Years of Growth
- 2
- Frequency
- monthly
- Beta
- 0.52
- Market Cap
- $490.4M
- P/E Ratio
- 9.5
- 5-Yr Total Return
- -28%
- 52-Week Range
- $9.30 – $10.71
- Dividend Safety
- C · 60/100
- Ever Cut?
- Yes (2023)
Frequently Asked Questions
MMU Price — Last 12 Months
Daily close
Price Return
1 Year
-9%
3 Years
+8%
5 Years
-28%
52-Week Range
$9.30 – $10.71
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is MMU worth?
Fairly valuedmedium confidenceOur blended fair-value estimate for Western Asset Managed Municipals Fund Inc. is $10.54 per share, versus a market price of $9.43. That implies the stock is roughly fairly priced.
Fair Value
$10.54
Current Price
$9.43
Gap
+12%
Margin of Safety
10%
How we get there
Discounted cash flow
Discounts projected free cash flow back to today.
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 12.9% annual free-cash-flow growth. We model 4.1% — so the price already assumes faster growth than we think is likely.
Assumptions: 7.0% discount rate (CAPM), 4.1% stage-1 growth, 2.5% terminal growth, $0.95 EPS, $0.65 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
MMU 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 MMU dividend history →| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| Sep 23, 2026 | — | $0.0550 | regular |
| Aug 24, 2026 | — | $0.0550 | regular |
| Jul 24, 2026 | — | $0.0550 | regular |
| Jun 23, 2026 | — | $0.0550 | regular |
| May 21, 2026 | — | $0.0550 | regular |
| Apr 23, 2026 | — | $0.0550 | regular |
| Mar 24, 2026 | — | $0.0550 | regular |
| Feb 20, 2026 | — | $0.0550 | regular |
| Jan 23, 2026 | — | $0.0550 | regular |
| Dec 23, 2025 | — | $0.0550 | regular |
| Nov 20, 2025 | — | $0.0550 | regular |
| Oct 24, 2025 | — | $0.0550 | regular |
| Sep 23, 2025 | — | $0.0550 | regular |
| Aug 22, 2025 | — | $0.0550 | regular |
Income Calculator
At $0.65 / yr per share
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