Franklin Municipal Opportunities Trust
PMOFinancial Services · Stock · monthly payer
Forward Yield
4.91%
Annual Dividend
$0.51
Payout Ratio
55%
5-Yr Growth
-6.6%
Ex-Date
Aug 24, 2026
Frequency
Monthly
Summary
As of August 2026, Franklin Municipal Opportunities Trust (PMO) yields 4.91% ($0.51 per share annually), with a blended fair-value estimate of $21.59 — +108% upside, so it screens as undervalued. Dividend safety grade: C (55/100). 1 years of dividend growth.
Is PMO a good dividend stock?
MixedFranklin Municipal Opportunities Trust (PMO) pays a monthly dividend yielding 4.91% ($0.51/yr), with 1 year 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
- Comfortable payout ratio (55%)
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
- 4.91%
- Payout Ratio
- 55%
- Annual Dividend
- $0.51
- 5-Yr Avg Growth
- -6.6%
- Ex-Dividend Date
- Aug 24, 2026
- Years of Growth
- 1
- Frequency
- monthly
- Beta
- 0.71
- Market Cap
- $291.5M
- P/E Ratio
- 12.2
- 5-Yr Total Return
- -29%
- 52-Week Range
- $9.72 – $10.87
- Dividend Safety
- C · 55/100
- Ever Cut?
- Yes (2023)
Frequently Asked Questions
PMO Price — Last 12 Months
Daily close
Price Return
1 Year
+5%
3 Years
+5%
5 Years
-29%
52-Week Range
$9.72 – $10.87
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is PMO worth?
Undervaluedlow confidenceOur blended fair-value estimate for Franklin Municipal Opportunities Trust is $21.59 per share, versus a market price of $10.39. That implies 108% of upside — a margin of safety of about 52%.
Fair Value
$21.59
Current Price
$10.39
Upside
+108%
Margin of Safety
52%
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 -10.0% annual free-cash-flow growth. We model 20.0% — below our estimate, leaving room for upside if the business executes.
Assumptions: 7.9% discount rate (CAPM), 20.0% stage-1 growth, 2.5% terminal growth, $0.85 EPS, $0.51 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
PMO 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 |
|---|---|---|---|
| Jul 24, 2026 | — | $0.0520 | regular |
| Jun 23, 2026 | — | $0.0520 | regular |
| May 21, 2026 | — | $0.0390 | regular |
| Apr 23, 2026 | — | $0.0390 | regular |
| Mar 24, 2026 | — | $0.0390 | regular |
| Feb 20, 2026 | — | $0.0390 | regular |
| Jan 23, 2026 | — | $0.0390 | regular |
| Dec 15, 2025 | — | $0.0390 | regular |
| Nov 17, 2025 | — | $0.0390 | regular |
| Oct 17, 2025 | — | $0.0390 | regular |
| Sep 18, 2025 | — | $0.0390 | regular |
| Aug 18, 2025 | — | $0.0390 | regular |
| Jul 18, 2025 | — | $0.0390 | regular |
| Jun 16, 2025 | — | $0.0390 | regular |
Income Calculator
At $0.51 / yr per share
