Nuveen California AMT-Free Quality Municipal Income Fund
NKXFinancial Services · Stock · monthly payer
Forward Yield
7.82%
Annual Dividend
$0.86
Payout Ratio
212%
5-Yr Growth
7.2%
Ex-Date
Aug 14, 2026
Frequency
Monthly
Summary
As of September 2026, Nuveen California AMT-Free Quality Municipal Income Fund (NKX) yields 7.82% ($0.86 per share annually), with a blended fair-value estimate of $11.30 — +0% upside, so it screens as fairly valued. Dividend safety grade: C (51/100). 2 years of dividend growth.
Is NKX a good dividend stock?
MixedNuveen California AMT-Free Quality Municipal Income Fund (NKX) pays a monthly dividend yielding 7.82% ($0.86/yr), with 2 years of growth and a dividend-safety grade of C. The picture is mixed — the dividend pays, but safety or growth signals are weaker than ideal.
Advantages
- Strong 7.2% 5-yr dividend growth
Risks
- Cut its dividend in 2023
- Elevated payout ratio (212%)
- Share price is down over the past 5 years
Key Data
- Dividend Yield
- 7.82%
- Payout Ratio
- 212%
- Annual Dividend
- $0.86
- 5-Yr Avg Growth
- 7.2%
- Ex-Dividend Date
- Aug 14, 2026
- Years of Growth
- 2
- Frequency
- monthly
- Beta
- 0.62
- Market Cap
- $614.9M
- P/E Ratio
- 25.4
- 5-Yr Total Return
- -31%
- 52-Week Range
- $11.23 – $13.20
- Dividend Safety
- C · 51/100
- Ever Cut?
- Yes (2023)
Frequently Asked Questions
NKX Price — Last 12 Months
Daily close
Price Return
1 Year
-12%
3 Years
+15%
5 Years
-31%
52-Week Range
$11.23 – $13.20
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is NKX worth?
Fairly valuedlow confidenceOur blended fair-value estimate for Nuveen California AMT-Free Quality Municipal Income Fund is $11.30 per share, versus a market price of $11.29. That implies the stock is roughly fairly priced.
Fair Value
$11.30
Current Price
$11.29
Gap
+0%
Margin of Safety
0%
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 14.8% annual free-cash-flow growth. We model 6.7% — so the price already assumes faster growth than we think is likely.
Assumptions: 7.4% discount rate (CAPM), 6.7% stage-1 growth, 2.5% terminal growth, $0.43 EPS, $0.86 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
NKX 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 NKX dividend history →| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| Sep 15, 2026 | — | $0.0720 | regular |
| Aug 14, 2026 | — | $0.0720 | regular |
| Jul 15, 2026 | — | $0.0720 | regular |
| Jun 15, 2026 | — | $0.0720 | regular |
| May 15, 2026 | — | $0.0760 | regular |
| Apr 15, 2026 | — | $0.0760 | regular |
| Mar 13, 2026 | — | $0.0760 | regular |
| Feb 13, 2026 | — | $0.0760 | regular |
| Jan 15, 2026 | — | $0.0760 | regular |
| Dec 15, 2025 | — | $0.0760 | regular |
| Nov 14, 2025 | — | $0.0760 | regular |
| Oct 15, 2025 | — | $0.0760 | regular |
| Sep 15, 2025 | — | $0.0760 | regular |
| Aug 15, 2025 | — | $0.0760 | regular |
Income Calculator
At $0.86 / yr per share
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