Nuveen California Municipal Income Fund (NCA) Dividend
Nuveen California Municipal Income Fund · Financial Services · Asset Management · monthly payer
As of Nov 5, 2026, Nuveen California Municipal Income Fund (NCA) pays a monthly dividend of $0.03 per share, or $0.36 a year, a 4.22% yield at its $8.46 share price. It pays every month. It has a dividend safety grade of C.
Forward Yield
4.22%
Annual Dividend
$0.36
Payout Ratio
99%
5-Yr Growth
1.2%
Ex-Date
Sep 15, 2026
Frequency
Monthly
Key facts about NCA's dividend
Data as of · Source: SmarterDividends data
- As of Nov 5, 2026, Nuveen California Municipal Income Fund (NCA) has a forward dividend yield of 4.22%, based on an annual dividend of $0.36 per share and a share price of $8.46.
- As of Nov 5, 2026, NCA's dividend safety grade from SmarterDividends is C (65 out of 100), which rates the dividend as borderline.
- NCA last cut its regular dividend in 2021.
- NCA's most recent ex-dividend date was Oct 15, 2026, for a dividend of $0.0300 per share.
- As of Nov 5, 2026, NCA pays out 99% of its trailing 12-month earnings as dividends (its payout ratio).
- NCA's dividend has grown at an average rate of 1.2% a year over the past five years.
- As of Nov 5, 2026, NCA's 4.22% yield is 14% above its five-year average yield of 3.70%.
- As of Nov 5, 2026, SmarterDividends' blended fair-value estimate for NCA is $5.10 per share, 40% below the $8.46 share price, so NCA screens as overvalued.
- Nuveen California Municipal Income Fund (NCA) pays its dividend monthly, 12 times a year.
- Nuveen California Municipal Income Fund (NCA) has raised its regular dividend 18 times and cut it 19 times across the 474 payments on record since 1987. Its most recent change was a 3.4% increase to $0.0300 per share, going ex-dividend on Mar 13, 2026. The last cut went ex-dividend on Jul 14, 2021.
Cite this page
SmarterDividends, "NCA Dividend: Yield, Safety Grade & Next Ex-Date," updated Nov 5, 2026, https://smarterdividends.com/stocks/NCA
Is NCA a good dividend stock?
Yes, with caveatsNuveen California Municipal Income Fund (NCA) pays a monthly dividend yielding 4.22% ($0.36/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
Risks
- Cut its dividend in 2021
- Elevated payout ratio (99%)
- Share price is down over the past 5 years
Key Data
- Dividend Yield
- 4.22%
- Payout Ratio
- 99%
- Annual Dividend
- $0.36
- 5-Yr Avg Growth
- 1.2%
- Ex-Dividend Date
- Sep 15, 2026
- Years of Growth
- 0
- Frequency
- monthly
- Beta
- 0.42
- Market Cap
- —
- P/E Ratio
- 24.2
- 5-Yr Total Return
- -16%
- 52-Week Range
- $8.12 – $9.80
- Dividend Safety
- C · 65/100
- Ever Cut?
- Yes (2021)
NCA dividend raises and cuts
Nuveen California Municipal Income Fund (NCA) has raised its regular dividend 18 times and cut it 19 times across the 474 payments on record since 1987. Its most recent change was a 3.4% increase to $0.0300 per share, going ex-dividend on Mar 13, 2026. The last cut went ex-dividend on Jul 14, 2021.
| Ex-date | Change | Old → new | Move |
|---|---|---|---|
| Mar 13, 2026 | Raise | $0.0290 → $0.0300 | +3.4% |
| Jan 12, 2023 | Raise | $0.0280 → $0.0290 | +3.6% |
| Oct 13, 2022 | Raise | $0.0270 → $0.0280 | +3.7% |
| Jul 14, 2022 | Raise | $0.0250 → $0.0270 | +8.0% |
| Jul 14, 2021 | Cut | $0.0270 → $0.0250 | −7.4% |
| Apr 14, 2021 | Raise | $0.0180 → $0.0270 | +50.0% |
| Mar 4, 2021 | Cut | $0.0270 → $0.0180 | −33.3% |
| Mar 12, 2020 | Cut | $0.0290 → $0.0270 | −6.9% |
| Mar 14, 2018 | Cut | $0.0300 → $0.0290 | −3.3% |
| Dec 14, 2017 | Cut | $0.0340 → $0.0300 | −11.8% |
| Dec 13, 2016 | Cut | $0.0360 → $0.0340 | −5.6% |
| Sep 13, 2016 | Cut | $0.0390 → $0.0360 | −7.7% |
Show all 37 changes since 1988
| Ex-date | Change | Old → new | Move |
|---|---|---|---|
| Jan 13, 2015 | Cut | $0.0400 → $0.0390 | −2.5% |
| Dec 11, 2014 | Raise | $0.0390 → $0.0400 | +2.6% |
| Dec 13, 2011 | Raise | $0.0380 → $0.0390 | +2.6% |
| Sep 11, 2008 | Raise | $0.0370 → $0.0380 | +2.7% |
| Jun 13, 2007 | Cut | $0.0390 → $0.0370 | −5.1% |
| Feb 11, 2005 | Raise | $0.0380 → $0.0390 | +2.6% |
| Jun 14, 2004 | Cut | $0.0400 → $0.0380 | −5.0% |
| Sep 11, 2003 | Cut | $0.0410 → $0.0400 | −2.4% |
| Mar 12, 2003 | Cut | $0.0430 → $0.0410 | −4.7% |
| Mar 13, 2000 | Raise | $0.0420 → $0.0430 | +2.4% |
| Jul 13, 1998 | Cut | $0.0440 → $0.0420 | −4.5% |
| Oct 10, 1997 | Cut | $0.0480 → $0.0440 | −8.3% |
| Feb 12, 1997 | Cut | $0.0500 → $0.0480 | −4.0% |
| Apr 11, 1996 | Cut | $0.0530 → $0.0500 | −5.7% |
| Feb 13, 1996 | Raise | $0.0360 → $0.0530 | +47.2% |
| Jan 17, 1996 | Raise | $0.0250 → $0.0360 | +44.0% |
| Jan 4, 1996 | Cut | $0.0530 → $0.0250 | −52.8% |
| Jul 12, 1995 | Cut | $0.0560 → $0.0530 | −5.4% |
| May 9, 1994 | Raise | $0.0550 → $0.0560 | +1.8% |
| Apr 10, 1989 | Cut | $0.0560 → $0.0550 | −1.8% |
| Jun 9, 1988 | Raise | $0.0550 → $0.0560 | +1.8% |
| Apr 11, 1988 | Raise | $0.0540 → $0.0550 | +1.9% |
| Mar 9, 1988 | Raise | $0.0520 → $0.0540 | +3.8% |
| Feb 8, 1988 | Raise | $0.0500 → $0.0520 | +4.0% |
| Jan 11, 1988 | Raise | $0.0430 → $0.0500 | +16.3% |
Frequently Asked Questions
Is NCA a good dividend stock?
Yes, with caveats. Nuveen California Municipal Income Fund (NCA) pays a monthly dividend yielding 4.22% ($0.36/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.
Is NCA undervalued?
Based on a blend of discounted cash flow, a dividend-discount model and an earnings-multiple estimate, NCA's fair value is about $5.10 versus a $8.46 share price — so it looks overvalued (-40% vs. fair value).
Is NCA's dividend safe?
NCA has a dividend-safety grade of C (65/100), based on its payout coverage, free-cash-flow, 0-year growth streak, a dividend cut in 2021, debt and yield-versus-history.
What is NCA's fair value?
Our blended fair-value estimate for NCA is about $5.10 per share, about 40% below the current $8.46 price — combining a discounted cash flow, a dividend-discount model and an earnings multiple.
Is NCA a buy, hold, or sell?
We don't issue formal ratings, but on the data NCA screens as "yes, with caveats" and overvalued. Nuveen California Municipal Income Fund (NCA) pays a monthly dividend yielding 4.22% ($0.36/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. This is research for your own analysis, not investment advice.
Will NCA cut its dividend?
NCA earns a dividend-safety grade of C (65/100), and has cut its dividend before (last in 2021). A higher score means lower cut risk based on payout coverage, cash flow and history — but no score guarantees a dividend.
Does NCA pay a dividend?
Yes. Nuveen California Municipal Income Fund pays a monthly dividend of about $0.36 per share annually, a forward yield of roughly 4.22%.
How much dividend does 100 shares of NCA pay?
At $0.36 per share a year, 100 shares of NCA pay $36.00 a year in dividends before tax, about $3.00 each month. Buying them costs about $846 at the Nov 5, 2026 price.
What is NCA's dividend yield?
As of Nov 5, 2026, NCA's forward dividend yield is 4.22%, based on a $0.36 annual dividend and a $8.46 share price.
What is NCA's dividend per share?
As of Nov 5, 2026, NCA pays $0.36 per share per year, distributed on a monthly basis.
What is NCA's dividend payout ratio?
As of Nov 5, 2026, NCA's payout ratio is 99% of trailing 12-month earnings — an elevated level worth watching, as it leaves less cushion if earnings dip.
How many years has NCA grown its dividend?
NCA does not currently have a long dividend-growth streak on record.
When is the next NCA ex-dividend date?
As of Nov 5, 2026, NCA's next ex-dividend date hasn't been announced. The most recent was Oct 15, 2026, for $0.0300 per share.
NCA Price — Last 12 Months
Daily close
Price Return
1 Year
-7%
3 Years
+2%
5 Years
-16%
52-Week Range
$8.12 – $9.80
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is NCA worth?
Overvaluedmedium confidenceOur blended fair-value estimate for Nuveen California Municipal Income Fund is $5.10 per share, versus a market price of $8.46. That implies 40% of downside.
Fair Value
$5.10
Current Price
$8.46
Downside
-40%
Margin of Safety
-66%
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: 8.0% discount rate (CAPM), 1.4% growth for five years fading to 2.5% over the next five, $0.35 EPS, $0.36 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
NCA 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 NCA dividend history →| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| Oct 15, 2026 | Nov 2, 2026 | $0.0300 | regular |
| Sep 15, 2026 | Oct 1, 2026 | $0.0300 | regular |
| Aug 14, 2026 | Sep 1, 2026 | $0.0300 | regular |
| Jul 15, 2026 | Aug 3, 2026 | $0.0300 | regular |
| Jun 15, 2026 | Jul 1, 2026 | $0.0300 | regular |
| May 15, 2026 | Jun 1, 2026 | $0.0300 | regular |
| Apr 15, 2026 | May 1, 2026 | $0.0300 | regular |
| Mar 13, 2026 | Apr 1, 2026 | $0.0300 | regular |
| Feb 13, 2026 | Mar 2, 2026 | $0.0290 | regular |
| Jan 15, 2026 | Feb 2, 2026 | $0.0290 | regular |
| Dec 15, 2025 | Dec 31, 2025 | $0.0290 | regular |
| Nov 14, 2025 | Dec 1, 2025 | $0.0290 | regular |
| Oct 15, 2025 | Nov 3, 2025 | $0.0290 | regular |
| Sep 15, 2025 | Oct 1, 2025 | $0.0290 | regular |
Income Calculator
At $0.36 / yr per share
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