Nuveen Municipal Credit Opportunities Fund
NMCOFinancial Services · Stock · monthly payer
Forward Yield
8.86%
Annual Dividend
$0.82
Payout Ratio
169%
5-Yr Growth
2.7%
Ex-Date
Oct 1, 2026
Frequency
Monthly
Summary
As of September 2026, Nuveen Municipal Credit Opportunities Fund (NMCO) yields 8.86% ($0.82 per share annually), with a blended fair-value estimate of $8.21 — -15% downside, so it screens as overvalued. Dividend safety grade: D (45/100). 2 years of dividend growth.
Is NMCO a good dividend stock?
MixedNuveen Municipal Credit Opportunities Fund (NMCO) pays a monthly dividend yielding 8.86% ($0.82/yr), with 2 years of growth and a dividend-safety grade of D. The picture is mixed — the dividend pays, but safety or growth signals are weaker than ideal.
Advantages
Risks
- Cut its dividend in 2023
- Elevated payout ratio (169%)
- Very high yield can signal elevated risk
- Share price is down over the past 5 years
- Below-average dividend safety score
Key Data
- Dividend Yield
- 8.86%
- Payout Ratio
- 169%
- Annual Dividend
- $0.82
- 5-Yr Avg Growth
- 2.7%
- Ex-Dividend Date
- Oct 1, 2026
- Years of Growth
- 2
- Frequency
- monthly
- Beta
- 0.87
- Market Cap
- $522.6M
- P/E Ratio
- 18.6
- 5-Yr Total Return
- -36%
- 52-Week Range
- $9.42 – $11.00
- Dividend Safety
- D · 45/100
- Ever Cut?
- Yes (2023)
Frequently Asked Questions
NMCO Price — Last 12 Months
Daily close
Price Return
1 Year
-11%
3 Years
+12%
5 Years
-36%
52-Week Range
$9.42 – $11.00
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is NMCO worth?
Overvaluedmedium confidenceOur blended fair-value estimate for Nuveen Municipal Credit Opportunities Fund is $8.21 per share, versus a market price of $9.70. That implies 15% of downside.
Fair Value
$8.21
Current Price
$9.70
Downside
-15%
Margin of Safety
-18%
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 7.7% annual free-cash-flow growth. We model 2.2% — so the price already assumes faster growth than we think is likely.
Assumptions: 8.6% discount rate (CAPM), 2.2% stage-1 growth, 2.5% terminal growth, $0.49 EPS, $0.82 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
NMCO Dividend Safety Score
Risky
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 NMCO dividend history →| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| Sep 15, 2026 | — | $0.0690 | regular |
| Aug 14, 2026 | — | $0.0690 | regular |
| Jul 15, 2026 | — | $0.0690 | regular |
| Jun 15, 2026 | — | $0.0690 | regular |
| May 15, 2026 | — | $0.0690 | regular |
| Apr 15, 2026 | — | $0.0690 | regular |
| Mar 13, 2026 | — | $0.0690 | regular |
| Feb 13, 2026 | — | $0.0690 | regular |
| Jan 15, 2026 | — | $0.0690 | regular |
| Dec 15, 2025 | — | $0.0690 | regular |
| Nov 14, 2025 | — | $0.0690 | regular |
| Oct 15, 2025 | — | $0.0690 | regular |
| Sep 15, 2025 | — | $0.0690 | regular |
| Aug 15, 2025 | — | $0.0690 | regular |
Income Calculator
At $0.82 / yr per share
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