SmarterDividends
NZF

Nuveen Municipal Credit Income Fund (NZF) Dividend

Nuveen Municipal Credit Income Fund · Financial Services · Asset Management · monthly payer

$11.47

Undervalued · +54% Add to Portfolio

As of Nov 8, 2026, Nuveen Municipal Credit Income Fund (NZF) pays a monthly dividend of $0.08 per share, or $0.95 a year, a 8.32% yield at its $11.47 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

8.32%

Annual Dividend

$0.95

Payout Ratio

105%

5-Yr Growth

4.6%

Ex-Date

Sep 15, 2026

Frequency

Monthly

Key facts about NZF's dividend

Data as of · Source: SmarterDividends data

  • As of Nov 8, 2026, Nuveen Municipal Credit Income Fund (NZF) has a forward dividend yield of 8.32%, based on an annual dividend of $0.95 per share and a share price of $11.47.
  • As of Nov 8, 2026, NZF's dividend safety grade from SmarterDividends is C (53 out of 100), which rates the dividend as borderline.
  • By SmarterDividends' count, Nuveen Municipal Credit Income Fund (NZF) has raised its dividend for 2 consecutive years as of Nov 8, 2026.
  • NZF last cut its regular dividend in 2022.
  • NZF's most recent ex-dividend date was Oct 15, 2026, for a dividend of $0.0800 per share.
  • As of Nov 8, 2026, NZF pays out 105% of its trailing 12-month earnings as dividends (its payout ratio).
  • NZF's dividend has grown at an average rate of 4.6% a year over the past five years.
  • As of Nov 8, 2026, NZF's 8.32% yield is 42% above its five-year average yield of 5.86%.
  • As of Nov 8, 2026, SmarterDividends' blended fair-value estimate for NZF is $17.71 per share, 54% above the $11.47 share price, so NZF screens as undervalued.
  • Nuveen Municipal Credit Income Fund (NZF) pays its dividend monthly, 12 times a year.
  • Nuveen Municipal Credit Income Fund (NZF) has raised its regular dividend 28 times and cut it 21 times across the 303 payments on record since 2001. Its most recent change was a 37.9% increase to $0.0800 per share, going ex-dividend on Jun 14, 2024. The last cut went ex-dividend on Apr 13, 2023.
Cite this page

SmarterDividends, "NZF Dividend: Yield, Safety Grade & Next Ex-Date," updated Nov 8, 2026, https://smarterdividends.com/stocks/NZF

Is NZF a good dividend stock?

Mixed

Nuveen Municipal Credit Income Fund (NZF) pays a monthly dividend yielding 8.32% ($0.95/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 2022
    • Elevated payout ratio (105%)
    • Very high yield can signal elevated risk
    • Share price is down over the past 5 years

    Key Data

    Dividend Yield
    8.32%
    Payout Ratio
    105%
    Annual Dividend
    $0.95
    5-Yr Avg Growth
    4.6%
    Ex-Dividend Date
    Sep 15, 2026
    Years of Growth
    2
    Frequency
    monthly
    Beta
    0.77
    Market Cap
    $2.3B
    P/E Ratio
    12.6
    5-Yr Total Return
    -33%
    52-Week Range
    $10.45 – $13.02
    Dividend Safety
    C · 53/100
    Ever Cut?
    Yes (2022)

    NZF dividend raises and cuts

    Nuveen Municipal Credit Income Fund (NZF) has raised its regular dividend 28 times and cut it 21 times across the 303 payments on record since 2001. Its most recent change was a 37.9% increase to $0.0800 per share, going ex-dividend on Jun 14, 2024. The last cut went ex-dividend on Apr 13, 2023.

    Ex-dateChangeOld → newMove
    Jun 14, 2024Raise$0.0580 → $0.0800+37.9%
    Mar 14, 2024Raise$0.0520 → $0.0580+11.5%
    Nov 14, 2023Raise$0.0430 → $0.0520+20.9%
    May 12, 2023Raise$0.0270 → $0.0430+59.3%
    Apr 26, 2023Raise$0.0170 → $0.0270+58.8%
    Apr 13, 2023Cut$0.0430 → $0.0170−60.5%
    Jan 12, 2023Cut$0.0510 → $0.0430−15.7%
    Oct 13, 2022Cut$0.0590 → $0.0510−13.6%
    Jul 14, 2022Raise$0.0550 → $0.0590+7.3%
    Jun 15, 2022Raise$0.0040 → $0.0550+1275.0%
    Jun 2, 2022Cut$0.0590 → $0.0040−93.2%
    Apr 13, 2022Cut$0.0660 → $0.0590−10.6%
    Show all 49 changes since 2003
    Ex-dateChangeOld → newMove
    Oct 14, 2020Raise$0.0630 → $0.0660+4.8%
    Dec 12, 2019Cut$0.0660 → $0.0630−4.5%
    Jun 14, 2018Cut$0.0700 → $0.0660−5.7%
    Jan 11, 2018Cut$0.0800 → $0.0700−12.5%
    Dec 14, 2017Raise$0.0740 → $0.0800+8.1%
    Jan 11, 2017Cut$0.0780 → $0.0740−5.1%
    Dec 13, 2016Raise$0.0760 → $0.0780+2.6%
    May 11, 2016Raise$0.0560 → $0.0760+35.7%
    Apr 19, 2016Raise$0.0130 → $0.0560+330.8%
    Apr 6, 2016Cut$0.0690 → $0.0130−81.2%
    Jan 13, 2016Raise$0.0670 → $0.0690+3.0%
    Jun 11, 2015Raise$0.0640 → $0.0670+4.7%
    Mar 11, 2015Raise$0.0630 → $0.0640+1.6%
    Jan 13, 2015Cut$0.0640 → $0.0630−1.6%
    Dec 11, 2014Raise$0.0630 → $0.0640+1.6%
    Jul 11, 2014Raise$0.0600 → $0.0630+5.0%
    Jan 13, 2014Raise$0.0580 → $0.0600+3.4%
    Jun 12, 2013Cut$0.0630 → $0.0580−7.9%
    Mar 13, 2013Cut$0.0660 → $0.0630−4.5%
    Dec 12, 2012Cut$0.0760 → $0.0660−13.2%
    Jun 13, 2012Cut$0.0820 → $0.0760−7.3%
    Jun 11, 2010Raise$0.0780 → $0.0820+5.1%
    Jan 13, 2010Raise$0.0750 → $0.0780+4.0%
    Sep 11, 2009Raise$0.0740 → $0.0750+1.4%
    May 13, 2009Raise$0.0680 → $0.0740+8.8%
    Mar 11, 2009Raise$0.0670 → $0.0680+1.5%
    Jan 13, 2009Cut$0.0720 → $0.0670−6.9%
    Dec 11, 2008Raise$0.0670 → $0.0720+7.5%
    Sep 11, 2008Raise$0.0640 → $0.0670+4.7%
    Oct 11, 2007Cut$0.0680 → $0.0640−5.9%
    Jun 13, 2007Cut$0.0710 → $0.0680−4.2%
    Mar 13, 2007Cut$0.0730 → $0.0710−2.7%
    Jun 13, 2006Cut$0.0770 → $0.0730−5.2%
    Sep 13, 2005Cut$0.0810 → $0.0770−4.9%
    Dec 11, 2003Raise$0.0790 → $0.0810+2.5%
    Nov 12, 2003Raise$0.0780 → $0.0790+1.3%
    Mar 12, 2003Raise$0.0760 → $0.0780+2.6%
    Every NZF payment →Download every raise and cut (CSV)
    NZF ex-dividend date & scheduleNext ex-date Sep 15, 2026 · full ex-dividend historyView →NZF dividend historyEvery payment, totals by year, raises and cutsView →NZF dividend calculator100 shares pay $95.00 a year, $7.92 each monthCalculate →NZF total return calculatorWhat $10,000 became, with dividends reinvested or taken as cashSee →

    Frequently Asked Questions

    Is NZF a good dividend stock?

    Mixed. Nuveen Municipal Credit Income Fund (NZF) pays a monthly dividend yielding 8.32% ($0.95/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 NZF undervalued?

    Based on a blend of discounted cash flow, a dividend-discount model and an earnings-multiple estimate, NZF's fair value is about $17.71 versus a $11.47 share price — so it looks undervalued (+54% vs. fair value).

    Is NZF's dividend safe?

    NZF has a dividend-safety grade of C (53/100), based on its payout coverage, free-cash-flow, 2-year growth streak, a dividend cut in 2022, debt and yield-versus-history.

    What is NZF's fair value?

    Our blended fair-value estimate for NZF is about $17.71 per share, roughly 54% above the current $11.47 price — combining a discounted cash flow, a dividend-discount model and an earnings multiple.

    Is NZF a buy, hold, or sell?

    We don't issue formal ratings, but on the data NZF screens as "mixed" and undervalued. Nuveen Municipal Credit Income Fund (NZF) pays a monthly dividend yielding 8.32% ($0.95/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 NZF cut its dividend?

    NZF earns a dividend-safety grade of C (53/100), and has cut its dividend before (last in 2022). A higher score means lower cut risk based on payout coverage, cash flow and history — but no score guarantees a dividend.

    Does NZF pay a dividend?

    Yes. Nuveen Municipal Credit Income Fund pays a monthly dividend of about $0.95 per share annually, a forward yield of roughly 8.32%.

    How much dividend does 100 shares of NZF pay?

    At $0.95 per share a year, 100 shares of NZF pay $95.00 a year in dividends before tax, about $7.92 each month. Buying them costs about $1,147 at the Nov 8, 2026 price.

    What is NZF's dividend yield?

    As of Nov 8, 2026, NZF's forward dividend yield is 8.32%, based on a $0.95 annual dividend and a $11.47 share price.

    What is NZF's dividend per share?

    As of Nov 8, 2026, NZF pays $0.95 per share per year, distributed on a monthly basis.

    What is NZF's dividend payout ratio?

    As of Nov 8, 2026, NZF's payout ratio is 105% of trailing 12-month earnings — an elevated level worth watching, as it leaves less cushion if earnings dip.

    How many years has NZF grown its dividend?

    As of Nov 8, 2026, NZF has increased its dividend for 2 consecutive years.

    When is the next NZF ex-dividend date?

    As of Nov 8, 2026, NZF's next ex-dividend date hasn't been announced. The most recent was Oct 15, 2026, for $0.0800 per share.

    Income Calculator

    At $0.95 / yr per share

    Per payment (monthly)$7.92
    Annual$95.00
    Monthly avg$7.92
    Full NZF dividend calculator →

    Similar Dividend Stocks

    JPMJPMJPMorgan Chase & Co.1.97%Financial ServicesVVVisa Inc.0.74%Financial ServicesMAMAMastercard Incorporated0.53%Financial ServicesBACBACBank of America Corporation2.59%Financial Services

    Compare NZF

    NZF vs JPMNZF vs VNZF vs MANZF vs BAC

    Explore more

    Lists and tools related to NZF