Nuveen Massachusetts Quality Municipal Income Fund
NMTFinancial Services · Stock · monthly payer
Forward Yield
5.78%
Annual Dividend
$0.73
Payout Ratio
90%
5-Yr Growth
9.4%
Ex-Date
Jul 15, 2026
Frequency
Monthly
Summary
As of July 2026, Nuveen Massachusetts Quality Municipal Income Fund (NMT) yields 5.78% ($0.73 per share annually), with a blended fair-value estimate of $19.02 — +52% upside, so it screens as undervalued. Dividend safety grade: C (53/100). 2 years of dividend growth.
Is NMT a good dividend stock?
MixedNuveen Massachusetts Quality Municipal Income Fund (NMT) pays a monthly dividend yielding 5.78% ($0.73/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 9.4% 5-yr dividend growth
Risks
- Cut its dividend in 2023
- Elevated payout ratio (90%)
- Share price is down over the past 5 years
Key Data
- Dividend Yield
- 5.78%
- Payout Ratio
- 90%
- Annual Dividend
- $0.73
- 5-Yr Avg Growth
- 9.4%
- Ex-Dividend Date
- Jul 15, 2026
- Years of Growth
- 2
- Frequency
- monthly
- Beta
- 0.47
- Market Cap
- $130.6M
- P/E Ratio
- —
- 5-Yr Total Return
- -18%
- 52-Week Range
- $11.11 – $13.70
- Dividend Safety
- C · 53/100
- Ever Cut?
- Yes (2023)
Frequently Asked Questions
NMT Price — Last 12 Months
Daily close
Price Return
1 Year
+11%
3 Years
+24%
5 Years
-18%
52-Week Range
$11.11 – $13.70
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is NMT worth?
Undervaluedmedium confidenceOur blended fair-value estimate for Nuveen Massachusetts Quality Municipal Income Fund is $19.02 per share, versus a market price of $12.56. That implies 52% of upside — a margin of safety of about 34%.
Fair Value
$19.02
Current Price
$12.56
Upside
+52%
Margin of Safety
34%
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.
At today's price, the market is pricing in about 5.2% annual free-cash-flow growth. We model 9.5% — below our estimate, leaving room for upside if the business executes.
Assumptions: 7.0% discount rate (CAPM), 9.5% stage-1 growth, 2.5% terminal growth, -$0.06 EPS, $0.73 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
NMT 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
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| Jul 15, 2026 | — | $0.0610 | regular |
| Jun 15, 2026 | — | $0.0610 | regular |
| May 15, 2026 | — | $0.0640 | regular |
| Apr 15, 2026 | — | $0.0640 | regular |
| Mar 13, 2026 | — | $0.0640 | regular |
| Feb 13, 2026 | — | $0.0640 | regular |
| Jan 15, 2026 | — | $0.0640 | regular |
| Dec 15, 2025 | — | $0.0640 | regular |
| Nov 14, 2025 | — | $0.0640 | regular |
| Oct 15, 2025 | — | $0.0640 | regular |
| Sep 15, 2025 | — | $0.0640 | regular |
| Aug 15, 2025 | — | $0.0710 | regular |
| Jul 15, 2025 | — | $0.0710 | regular |
| Jun 13, 2025 | — | $0.0710 | regular |
Income Calculator
At $0.73 / yr per share
