SmarterDividends
NMZ

Nuveen Municipal High Income Opportunity Fund (NMZ) Dividend

Nuveen Municipal High Income Opportunity Fund · Financial Services · Asset Management · monthly payer

$9.02

Fairly valued · +12% Add to Portfolio

As of Nov 9, 2026, Nuveen Municipal High Income Opportunity Fund (NMZ) pays a monthly dividend of $0.0660 per share, or $0.79 a year, a 8.71% yield at its $9.02 share price. It pays every month. It has raised its dividend 2 years in a row and has a dividend safety grade of C.

Forward Yield

8.71%

Annual Dividend

$0.79

Payout Ratio

131%

5-Yr Growth

1.5%

Ex-Date

Sep 15, 2026

Frequency

Monthly

Key facts about NMZ's dividend

Data as of · Source: SmarterDividends data

  • As of Nov 9, 2026, Nuveen Municipal High Income Opportunity Fund (NMZ) has a forward dividend yield of 8.71%, based on an annual dividend of $0.79 per share and a share price of $9.02.
  • As of Nov 9, 2026, NMZ's dividend safety grade from SmarterDividends is C (54 out of 100), which rates the dividend as borderline.
  • By SmarterDividends' count, Nuveen Municipal High Income Opportunity Fund (NMZ) has raised its dividend for 2 consecutive years as of Nov 9, 2026.
  • NMZ last cut its regular dividend in 2023.
  • NMZ's most recent ex-dividend date was Oct 15, 2026, for a dividend of $0.0660 per share.
  • As of Nov 9, 2026, NMZ pays out 131% of its trailing 12-month earnings as dividends (its payout ratio).
  • NMZ's dividend has grown at an average rate of 1.5% a year over the past five years.
  • As of Nov 9, 2026, NMZ's 8.71% yield is 43% above its five-year average yield of 6.11%.
  • As of Nov 9, 2026, SmarterDividends' blended fair-value estimate for NMZ is $10.10 per share, 12% above the $9.02 share price, so NMZ screens as fairly valued.
  • Nuveen Municipal High Income Opportunity Fund (NMZ) pays its dividend monthly, 12 times a year.
  • Nuveen Municipal High Income Opportunity Fund (NMZ) has raised its regular dividend 12 times and cut it 17 times across the 274 payments on record since 2004. Its most recent change was a 37.5% increase to $0.0660 per share, going ex-dividend on Jun 14, 2024. The last cut went ex-dividend on Oct 12, 2023.
Cite this page

SmarterDividends, "NMZ Dividend: Yield, Safety Grade & Next Ex-Date," updated Nov 9, 2026, https://smarterdividends.com/stocks/NMZ

Is NMZ a good dividend stock?

Mixed

Nuveen Municipal High Income Opportunity Fund (NMZ) pays a monthly dividend yielding 8.71% ($0.79/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

    Risks

    • Cut its dividend in 2023
    • Elevated payout ratio (131%)
    • Very high yield can signal elevated risk
    • Share price is down over the past 5 years

    Key Data

    Dividend Yield
    8.71%
    Payout Ratio
    131%
    Annual Dividend
    $0.79
    5-Yr Avg Growth
    1.5%
    Ex-Dividend Date
    Sep 15, 2026
    Years of Growth
    2
    Frequency
    monthly
    Beta
    0.76
    Market Cap
    $1.9B
    P/E Ratio
    15.0
    5-Yr Total Return
    -39%
    52-Week Range
    $8.62 – $10.77
    Dividend Safety
    C · 54/100
    Ever Cut?
    Yes (2023)

    NMZ dividend raises and cuts

    Nuveen Municipal High Income Opportunity Fund (NMZ) has raised its regular dividend 12 times and cut it 17 times across the 274 payments on record since 2004. Its most recent change was a 37.5% increase to $0.0660 per share, going ex-dividend on Jun 14, 2024. The last cut went ex-dividend on Oct 12, 2023.

    Ex-dateChangeOld → newMove
    Jun 14, 2024Raise$0.0480 → $0.0660+37.5%
    Mar 14, 2024Raise$0.0430 → $0.0480+11.6%
    Oct 12, 2023Cut$0.0460 → $0.0430−6.5%
    Jan 12, 2023Cut$0.0540 → $0.0460−14.8%
    Oct 13, 2022Cut$0.0590 → $0.0540−8.5%
    Jul 14, 2022Cut$0.0650 → $0.0590−9.2%
    Apr 14, 2021Raise$0.0620 → $0.0650+4.8%
    May 14, 2020Raise$0.0600 → $0.0620+3.3%
    Mar 14, 2019Raise$0.0570 → $0.0600+5.3%
    Sep 13, 2018Cut$0.0600 → $0.0570−5.0%
    Mar 14, 2018Cut$0.0650 → $0.0600−7.7%
    Sep 14, 2017Cut$0.0680 → $0.0650−4.4%
    Show all 29 changes since 2006
    Ex-dateChangeOld → newMove
    Jan 11, 2017Cut$0.0730 → $0.0680−6.8%
    Dec 13, 2016Raise$0.0700 → $0.0730+4.3%
    Sep 13, 2016Cut$0.0760 → $0.0700−7.9%
    Jan 13, 2014Cut$0.0780 → $0.0760−2.6%
    Dec 11, 2013Raise$0.0730 → $0.0780+6.8%
    Sep 11, 2013Raise$0.0550 → $0.0730+32.7%
    Jul 23, 2013Cut$0.0910 → $0.0550−39.6%
    Jul 10, 2013Raise$0.0730 → $0.0910+24.7%
    Sep 13, 2011Cut$0.0780 → $0.0730−6.4%
    Jun 13, 2011Cut$0.0840 → $0.0780−7.1%
    Jan 13, 2010Cut$0.0880 → $0.0840−4.5%
    Dec 11, 2009Raise$0.0840 → $0.0880+4.8%
    Sep 11, 2008Raise$0.0820 → $0.0840+2.4%
    Jan 10, 2007Cut$0.0860 → $0.0820−4.7%
    Dec 13, 2006Raise$0.0820 → $0.0860+4.9%
    Sep 13, 2006Cut$0.0850 → $0.0820−3.5%
    Jun 13, 2006Cut$0.0890 → $0.0850−4.5%
    Every NMZ payment →Download every raise and cut (CSV)
    NMZ ex-dividend date & scheduleNext ex-date Sep 15, 2026 · full ex-dividend historyView →NMZ dividend historyEvery payment, totals by year, raises and cutsView →NMZ dividend calculator100 shares pay $79.00 a year, $6.58 each monthCalculate →NMZ total return calculatorWhat $10,000 became, with dividends reinvested or taken as cashSee →

    Frequently Asked Questions

    Is NMZ a good dividend stock?

    Mixed. Nuveen Municipal High Income Opportunity Fund (NMZ) pays a monthly dividend yielding 8.71% ($0.79/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.

    Is NMZ undervalued?

    Based on a blend of discounted cash flow, a dividend-discount model and an earnings-multiple estimate, NMZ's fair value is about $10.10 versus a $9.02 share price — so it looks fairly valued (+12% vs. fair value).

    Is NMZ's dividend safe?

    NMZ has a dividend-safety grade of C (54/100), based on its payout coverage, free-cash-flow, 2-year growth streak, a dividend cut in 2023, debt and yield-versus-history.

    What is NMZ's fair value?

    Our blended fair-value estimate for NMZ is about $10.10 per share, roughly 12% above the current $9.02 price — combining a discounted cash flow, a dividend-discount model and an earnings multiple.

    Is NMZ a buy, hold, or sell?

    We don't issue formal ratings, but on the data NMZ screens as "mixed" and fairly valued. Nuveen Municipal High Income Opportunity Fund (NMZ) pays a monthly dividend yielding 8.71% ($0.79/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. This is research for your own analysis, not investment advice.

    Will NMZ cut its dividend?

    NMZ earns a dividend-safety grade of C (54/100), 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 NMZ pay a dividend?

    Yes. Nuveen Municipal High Income Opportunity Fund pays a monthly dividend of about $0.79 per share annually, a forward yield of roughly 8.71%.

    How much dividend does 100 shares of NMZ pay?

    At $0.79 per share a year, 100 shares of NMZ pay $79.00 a year in dividends before tax, about $6.58 each month. Buying them costs about $902 at the Nov 9, 2026 price.

    What is NMZ's dividend yield?

    As of Nov 9, 2026, NMZ's forward dividend yield is 8.71%, based on a $0.79 annual dividend and a $9.02 share price.

    What is NMZ's dividend per share?

    As of Nov 9, 2026, NMZ pays $0.79 per share per year, distributed on a monthly basis.

    What is NMZ's dividend payout ratio?

    As of Nov 9, 2026, NMZ's payout ratio is 131% of trailing 12-month earnings — an elevated level worth watching, as it leaves less cushion if earnings dip.

    How many years has NMZ grown its dividend?

    As of Nov 9, 2026, NMZ has increased its dividend for 2 consecutive years.

    When is the next NMZ ex-dividend date?

    As of Nov 9, 2026, NMZ's next ex-dividend date hasn't been announced. The most recent was Oct 15, 2026, for $0.0660 per share.

    Income Calculator

    At $0.79 / yr per share

    Per payment (monthly)$6.58
    Annual$79.00
    Monthly avg$6.58
    Full NMZ dividend calculator →

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