Nuveen Municipal Credit Income Fund
NZFFinancial Services · Stock · monthly payer
Forward Yield
8.49%
Annual Dividend
$0.95
Payout Ratio
105%
5-Yr Growth
4.6%
Ex-Date
Aug 14, 2026
Frequency
Monthly
Summary
As of September 2026, Nuveen Municipal Credit Income Fund (NZF) yields 8.49% ($0.95 per share annually), with a blended fair-value estimate of $17.65 — +54% upside, so it screens as undervalued. Dividend safety grade: C (53/100). 2 years of dividend growth.
Is NZF a good dividend stock?
MixedNuveen Municipal Credit Income Fund (NZF) pays a monthly dividend yielding 8.49% ($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
- 8.49%
- Payout Ratio
- 105%
- Annual Dividend
- $0.95
- 5-Yr Avg Growth
- 4.6%
- Ex-Dividend Date
- Aug 14, 2026
- Years of Growth
- 2
- Frequency
- monthly
- Beta
- 0.74
- Market Cap
- $2.2B
- P/E Ratio
- 12.2
- 5-Yr Total Return
- -32%
- 52-Week Range
- $11.23 – $13.02
- Dividend Safety
- C · 53/100
- Ever Cut?
- Yes (2022)
Frequently Asked Questions
NZF Price — Last 12 Months
Daily close
Price Return
1 Year
-9%
3 Years
+13%
5 Years
-32%
52-Week Range
$11.23 – $13.02
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is NZF worth?
Undervaluedmedium confidenceOur blended fair-value estimate for Nuveen Municipal Credit Income Fund is $17.65 per share, versus a market price of $11.44. That implies 54% of upside — a margin of safety of about 35%.
Fair Value
$17.65
Current Price
$11.44
Upside
+54%
Margin of Safety
35%
How we get there
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 17.4% annual free-cash-flow growth. We model 4.9% — so the price already assumes faster growth than we think is likely.
Assumptions: 8.0% discount rate (CAPM), 4.9% stage-1 growth, 2.5% terminal growth, $0.91 EPS, $0.95 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
NZF 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
Full NZF dividend history →| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| Sep 15, 2026 | — | $0.0800 | regular |
| Aug 14, 2026 | — | $0.0800 | regular |
| Jul 15, 2026 | — | $0.0800 | regular |
| Jun 15, 2026 | — | $0.0800 | regular |
| May 15, 2026 | — | $0.0800 | regular |
| Apr 15, 2026 | — | $0.0800 | regular |
| Mar 13, 2026 | — | $0.0800 | regular |
| Feb 13, 2026 | — | $0.0800 | regular |
| Jan 15, 2026 | — | $0.0800 | regular |
| Dec 15, 2025 | — | $0.0800 | regular |
| Nov 14, 2025 | — | $0.0800 | regular |
| Oct 15, 2025 | — | $0.0800 | regular |
| Sep 15, 2025 | — | $0.0800 | regular |
| Aug 15, 2025 | — | $0.0800 | regular |
Income Calculator
At $0.95 / yr per share
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