PIMCO Municipal Income Fund II
PMLFinancial Services · Stock · monthly payer
Forward Yield
7.07%
Annual Dividend
$0.47
Payout Ratio
65%
5-Yr Growth
-7.5%
Ex-Date
Sep 11, 2026
Frequency
Monthly
Summary
As of September 2026, PIMCO Municipal Income Fund II (PML) yields 7.07% ($0.47 per share annually), with a blended fair-value estimate of $8.71 — +27% upside, so it screens as undervalued. Dividend safety grade: C (62/100).
Is PML a good dividend stock?
Yes, with caveatsPIMCO Municipal Income Fund II (PML) pays a monthly dividend yielding 7.07% ($0.47/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 2023
- Dividend has been shrinking, not growing
- Share price is down over the past 5 years
Key Data
- Dividend Yield
- 7.07%
- Payout Ratio
- 65%
- Annual Dividend
- $0.47
- 5-Yr Avg Growth
- -7.5%
- Ex-Dividend Date
- Sep 11, 2026
- Years of Growth
- 0
- Frequency
- monthly
- Beta
- 0.69
- Market Cap
- $439.9M
- P/E Ratio
- 9.1
- 5-Yr Total Return
- -51%
- 52-Week Range
- $6.80 – $8.01
- Dividend Safety
- C · 62/100
- Ever Cut?
- Yes (2023)
Frequently Asked Questions
PML Price — Last 12 Months
Daily close
Price Return
1 Year
-14%
3 Years
-4%
5 Years
-51%
52-Week Range
$6.80 – $8.01
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is PML worth?
Undervaluedmedium confidenceOur blended fair-value estimate for PIMCO Municipal Income Fund II is $8.71 per share, versus a market price of $6.85. That implies 27% of upside — a margin of safety of about 21%.
Fair Value
$8.71
Current Price
$6.85
Upside
+27%
Margin of Safety
21%
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: 7.7% discount rate (CAPM), -5.0% stage-1 growth, 2.5% terminal growth, $0.73 EPS, $0.47 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
PML 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 PML dividend history →| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| Sep 11, 2026 | — | $0.0400 | regular |
| Aug 13, 2026 | — | $0.0400 | regular |
| Jul 13, 2026 | — | $0.0400 | regular |
| Jun 11, 2026 | — | $0.0400 | regular |
| May 11, 2026 | — | $0.0400 | regular |
| Apr 13, 2026 | — | $0.0400 | regular |
| Mar 12, 2026 | — | $0.0400 | regular |
| Feb 12, 2026 | — | $0.0400 | regular |
| Jan 13, 2026 | — | $0.0400 | regular |
| Dec 11, 2025 | — | $0.0400 | regular |
| Nov 14, 2025 | — | $0.0400 | regular |
| Oct 14, 2025 | — | $0.0400 | regular |
| Sep 12, 2025 | — | $0.0400 | regular |
| Aug 11, 2025 | — | $0.0400 | regular |
Income Calculator
At $0.47 / yr per share
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