Nuveen Variable Rate Preferred & Income Fund
NPFDFinancial Services · Stock · monthly payer
Forward Yield
10.82%
Annual Dividend
$1.88
Payout Ratio
92%
5-Yr Growth
—
Ex-Date
Sep 15, 2026
Frequency
Monthly
Summary
As of September 2026, Nuveen Variable Rate Preferred & Income Fund (NPFD) yields 10.82% ($1.88 per share annually), with a blended fair-value estimate of $18.70 — +5% upside, so it screens as fairly valued. Dividend safety grade: D (47/100). 2 years of dividend growth.
Is NPFD a good dividend stock?
MixedNuveen Variable Rate Preferred & Income Fund (NPFD) pays a monthly dividend yielding 10.82% ($1.88/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 (92%)
- 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
- 10.82%
- Payout Ratio
- 92%
- Annual Dividend
- $1.88
- 5-Yr Avg Growth
- —
- Ex-Dividend Date
- Sep 15, 2026
- Years of Growth
- 2
- Frequency
- monthly
- Beta
- 0.73
- Market Cap
- $416.8M
- P/E Ratio
- 8.0
- 5-Yr Total Return
- -30%
- 52-Week Range
- $17.51 – $20.12
- Dividend Safety
- D · 47/100
- Ever Cut?
- Yes (2023)
Frequently Asked Questions
NPFD Price — Last 12 Months
Daily close
Price Return
1 Year
-11%
3 Years
+19%
5 Years
-30%
52-Week Range
$17.51 – $20.12
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is NPFD worth?
Fairly valuedmedium confidenceOur blended fair-value estimate for Nuveen Variable Rate Preferred & Income Fund is $18.70 per share, versus a market price of $17.79. That implies the stock is roughly fairly priced.
Fair Value
$18.70
Current Price
$17.79
Gap
+5%
Margin of Safety
5%
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 -0.6% annual free-cash-flow growth. We model -4.5% — so the price already assumes faster growth than we think is likely.
Assumptions: 8.0% discount rate (CAPM), -4.5% stage-1 growth, 2.5% terminal growth, $2.15 EPS, $1.88 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
NPFD 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 NPFD dividend history →| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| Sep 15, 2026 | — | $0.1570 | regular |
| Aug 14, 2026 | — | $0.1570 | regular |
| Jul 15, 2026 | — | $0.1570 | regular |
| Jun 15, 2026 | — | $0.1570 | regular |
| May 15, 2026 | — | $0.1570 | regular |
| Apr 15, 2026 | — | $0.1570 | regular |
| Mar 13, 2026 | — | $0.1570 | regular |
| Feb 13, 2026 | — | $0.1570 | regular |
| Jan 15, 2026 | — | $0.1570 | regular |
| Dec 15, 2025 | — | $0.1570 | regular |
| Nov 14, 2025 | — | $0.1680 | regular |
| Oct 15, 2025 | — | $0.1680 | regular |
| Sep 15, 2025 | — | $0.1680 | regular |
| Aug 15, 2025 | — | $0.1680 | regular |
Income Calculator
At $1.88 / yr per share
Similar Dividend Stocks
Compare NPFD
Explore more
Lists and tools related to NPFD
- Monthly dividend stocks →
- Financial Services dividend stocks →
- Dividend calendar →
- Dividend income calculator →
- DRIP calculator →
- Latest dividend cuts →
- Dividend cuts this month (research note) →
- Dividend increases this month (research note) →
- Safety score track record →
- Dividend screener →
- Dividend history lookup →
- Guide: what is a good dividend yield? →
- Guide: how to value a dividend stock →