Franklin Master Intermediate Income Trust
PIMFinancial Services · Stock · monthly payer
Forward Yield
8.25%
Annual Dividend
$0.26
Payout Ratio
120%
5-Yr Growth
-5.6%
Ex-Date
Jul 24, 2026
Frequency
Monthly
Summary
As of July 2026, Franklin Master Intermediate Income Trust (PIM) yields 8.25% ($0.26 per share annually), with a blended fair-value estimate of $3.53 — +12% upside, so it screens as fairly valued. Dividend safety grade: C (63/100).
Is PIM a good dividend stock?
Yes, with caveatsFranklin Master Intermediate Income Trust (PIM) pays a monthly dividend yielding 8.25% ($0.26/yr), with 0 years of growth and a dividend-safety grade of C. It's a solid income payer, but check the caveats below before buying.
Advantages
Risks
- Cut its dividend in 2021
- Elevated payout ratio (120%)
- Dividend has been shrinking, not growing
- Very high yield can signal elevated risk
- Share price is down over the past 5 years
Key Data
- Dividend Yield
- 8.25%
- Payout Ratio
- 120%
- Annual Dividend
- $0.26
- 5-Yr Avg Growth
- -5.6%
- Ex-Dividend Date
- Jul 24, 2026
- Years of Growth
- 0
- Frequency
- monthly
- Beta
- 0.27
- Market Cap
- $152.3M
- P/E Ratio
- 14.4
- 5-Yr Total Return
- -23%
- 52-Week Range
- $3.07 – $3.50
- Dividend Safety
- C · 63/100
- Ever Cut?
- Yes (2021)
Frequently Asked Questions
PIM Price — Last 12 Months
Daily close
Price Return
1 Year
-6%
3 Years
+1%
5 Years
-23%
52-Week Range
$3.07 – $3.50
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is PIM worth?
Fairly valuedmedium confidenceOur blended fair-value estimate for Franklin Master Intermediate Income Trust is $3.53 per share, versus a market price of $3.15. That implies the stock is roughly fairly priced.
Fair Value
$3.53
Current Price
$3.15
Gap
+12%
Margin of Safety
11%
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 -10.0% annual free-cash-flow growth. We model -5.0% — below our estimate, leaving room for upside if the business executes.
Assumptions: 7.0% discount rate (CAPM), -5.0% stage-1 growth, 2.5% terminal growth, $0.22 EPS, $0.26 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
PIM 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 |
|---|---|---|---|
| Jun 23, 2026 | — | $0.0220 | regular |
| May 21, 2026 | — | $0.0220 | regular |
| Apr 23, 2026 | — | $0.0220 | regular |
| Mar 24, 2026 | — | $0.0220 | regular |
| Feb 20, 2026 | — | $0.0220 | regular |
| Jan 23, 2026 | — | $0.0220 | regular |
| Dec 15, 2025 | — | $0.0220 | regular |
| Nov 17, 2025 | — | $0.0220 | regular |
| Oct 17, 2025 | — | $0.0220 | regular |
| Sep 18, 2025 | — | $0.0220 | regular |
| Aug 18, 2025 | — | $0.0220 | regular |
| Jul 18, 2025 | — | $0.0220 | regular |
| Jun 16, 2025 | — | $0.0220 | regular |
| May 19, 2025 | — | $0.0220 | regular |
Income Calculator
At $0.26 / yr per share
