SmarterDividends
NMS

Nuveen Minnesota Quality Municipal Income Fund

NMS

Financial Services · Asset Management · Stock · monthly payer

$10.20

Undervalued · +106% Add to Portfolio

Forward Yield

7.41%

Annual Dividend

$0.76

Payout Ratio

71%

5-Yr Growth

7.9%

Ex-Date

Sep 15, 2026

Frequency

Monthly

Key facts about NMS's dividend

Data as of · Source: SmarterDividends data

  • As of Oct 23, 2026, Nuveen Minnesota Quality Municipal Income Fund (NMS) has a forward dividend yield of 7.41%, based on an annual dividend of $0.76 per share and a share price of $10.20.
  • As of Oct 23, 2026, NMS's dividend safety grade from SmarterDividends is D (47 out of 100), which rates the dividend as unsafe.
  • By SmarterDividends' count, Nuveen Minnesota Quality Municipal Income Fund (NMS) has raised its dividend for 2 consecutive years as of Oct 23, 2026.
  • NMS last cut its regular dividend in 2023.
  • NMS's most recent ex-dividend date was Oct 15, 2026, for a dividend of $0.0630 per share.
  • As of Oct 23, 2026, NMS pays out 71% of its trailing 12-month earnings as dividends (its payout ratio).
  • NMS's dividend has grown at an average rate of 7.9% a year over the past five years.
  • As of Oct 23, 2026, NMS's 7.41% yield is 42% above its five-year average yield of 5.20%.
  • As of Oct 23, 2026, SmarterDividends' blended fair-value estimate for NMS is $20.99 per share, 106% above the $10.20 share price, so NMS screens as undervalued.
  • Nuveen Minnesota Quality Municipal Income Fund (NMS) pays its dividend monthly, 12 times a year.
  • Nuveen Minnesota Quality Municipal Income Fund (NMS) has raised its regular dividend 6 times and cut it 13 times across the 144 payments on record since 2014. Its most recent change was a 6.0% cut to $0.0630 per share, going ex-dividend on Jun 15, 2026.
Cite this page

SmarterDividends, "NMS Dividend: Yield, Safety Grade & Next Ex-Date," updated Oct 23, 2026, https://smarterdividends.com/stocks/NMS

Summary

As of Oct 23, 2026, Nuveen Minnesota Quality Municipal Income Fund (NMS) yields 7.41% ($0.76 a year per share), has a dividend safety grade of D (47/100) and has 2 consecutive years of dividend increases on record.

Is NMS a good dividend stock?

Mixed

Nuveen Minnesota Quality Municipal Income Fund (NMS) pays a monthly dividend yielding 7.41% ($0.76/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

  • Strong 7.9% 5-yr dividend growth

Risks

  • Cut its dividend in 2023
  • Share price is down over the past 5 years
  • Below-average dividend safety score

Key Data

Dividend Yield
7.41%
Payout Ratio
71%
Annual Dividend
$0.76
5-Yr Avg Growth
7.9%
Ex-Dividend Date
Sep 15, 2026
Years of Growth
2
Frequency
monthly
Beta
—
Market Cap
$65.4M
P/E Ratio
8.9
5-Yr Total Return
-33%
52-Week Range
$9.48 – $12.50
Dividend Safety
D · 47/100
Ever Cut?
Yes (2023)

NMS dividend raises and cuts

Nuveen Minnesota Quality Municipal Income Fund (NMS) has raised its regular dividend 6 times and cut it 13 times across the 144 payments on record since 2014. Its most recent change was a 6.0% cut to $0.0630 per share, going ex-dividend on Jun 15, 2026.

Ex-dateChangeOld → newMove
Jun 15, 2026Cut$0.0670 → $0.0630−6.0%
Sep 15, 2025Cut$0.0740 → $0.0670−9.5%
Jun 14, 2024Raise$0.0500 → $0.0740+48.0%
Mar 14, 2024Raise$0.0410 → $0.0500+22.0%
Nov 14, 2023Raise$0.0360 → $0.0410+13.9%
Jan 12, 2023Cut$0.0440 → $0.0360−18.2%
Oct 13, 2022Cut$0.0480 → $0.0440−8.3%
Jul 14, 2022Cut$0.0530 → $0.0480−9.4%
Oct 14, 2020Raise$0.0490 → $0.0530+8.2%
Jun 12, 2020Raise$0.0450 → $0.0490+8.9%
Mar 12, 2020Cut$0.0490 → $0.0450−8.2%
Mar 14, 2019Cut$0.0510 → $0.0490−3.9%
Show all 19 changes since 2015
Ex-dateChangeOld → newMove
Sep 13, 2018Cut$0.0550 → $0.0510−7.3%
Jun 14, 2018Cut$0.0600 → $0.0550−8.3%
Sep 14, 2017Cut$0.0640 → $0.0600−6.3%
Mar 13, 2017Cut$0.0670 → $0.0640−4.5%
Jan 11, 2017Cut$0.0690 → $0.0670−2.9%
Dec 13, 2016Raise$0.0670 → $0.0690+3.0%
Sep 11, 2015Cut$0.0690 → $0.0670−2.9%
Every NMS payment →Download every raise and cut (CSV)
NMS ex-dividend date & scheduleNext ex-date Sep 15, 2026 · full ex-dividend historyView →NMS dividend historyEvery payment, totals by year, raises and cutsView →

Frequently Asked Questions

Is NMS a good dividend stock?

Mixed. Nuveen Minnesota Quality Municipal Income Fund (NMS) pays a monthly dividend yielding 7.41% ($0.76/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.

Is NMS undervalued?

Based on a blend of discounted cash flow, a dividend-discount model and an earnings-multiple estimate, NMS's fair value is about $20.99 versus a $10.20 share price — so it looks undervalued (+106% vs. fair value).

Is NMS's dividend safe?

NMS has a dividend-safety grade of D (47/100), based on its payout coverage, free-cash-flow, 2-year growth streak, a dividend cut in 2023, debt and yield-versus-history.

What is NMS's fair value?

Our blended fair-value estimate for NMS is about $20.99 per share, roughly 106% above the current $10.20 price — combining a discounted cash flow, a dividend-discount model and an earnings multiple.

Is NMS a buy, hold, or sell?

We don't issue formal ratings, but on the data NMS screens as "mixed" and undervalued. Nuveen Minnesota Quality Municipal Income Fund (NMS) pays a monthly dividend yielding 7.41% ($0.76/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. This is research for your own analysis, not investment advice.

Will NMS cut its dividend?

NMS earns a dividend-safety grade of D (47/100), and has cut its dividend before (last in 2023). A higher score means lower cut risk based on payout coverage, cash flow and history — but no score guarantees a dividend.

Does NMS pay a dividend?

Yes. Nuveen Minnesota Quality Municipal Income Fund pays a monthly dividend of about $0.76 per share annually, a forward yield of roughly 7.41%.

What is NMS's dividend yield?

As of Oct 23, 2026, NMS's forward dividend yield is 7.41%, based on a $0.76 annual dividend and a $10.20 share price.

What is NMS's dividend per share?

As of Oct 23, 2026, NMS pays $0.76 per share per year, distributed on a monthly basis.

What is NMS's dividend payout ratio?

As of Oct 23, 2026, NMS's payout ratio is 71% of trailing 12-month earnings — a moderate level that's generally sustainable.

How many years has NMS grown its dividend?

As of Oct 23, 2026, NMS has increased its dividend for 2 consecutive years.

When is the next NMS ex-dividend date?

As of Oct 23, 2026, NMS's next ex-dividend date hasn't been announced. The most recent was Oct 15, 2026, for $0.0630 per share.

Income Calculator

At $0.76 / yr per share

Per payment (monthly)$6.33
Annual$76.00
Monthly avg$6.33

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