SmarterDividends
SPXX

Nuveen S&P 500 Dynamic Overwrite Fund

SPXX

Financial Services · Asset Management · Stock · quarterly payer

$18.52

Undervalued · +103% Add to Portfolio

Forward Yield

9.10%

Annual Dividend

$1.69

Payout Ratio

37%

5-Yr Growth

6.2%

Ex-Date

Sep 15, 2026

Frequency

Quarterly

Key facts about SPXX's dividend

Data as of · Source: SmarterDividends data

  • As of Oct 18, 2026, Nuveen S&P 500 Dynamic Overwrite Fund (SPXX) has a forward dividend yield of 9.10%, based on an annual dividend of $1.69 per share and a share price of $18.52.
  • As of Oct 18, 2026, SPXX's dividend safety grade from SmarterDividends is B (70 out of 100), which rates the dividend as safe.
  • By SmarterDividends' count, Nuveen S&P 500 Dynamic Overwrite Fund (SPXX) has raised its dividend for 2 consecutive years as of Oct 18, 2026.
  • SPXX last cut its regular dividend in 2020.
  • SPXX's most recent ex-dividend date was Sep 15, 2026, for a dividend of $0.42 per share.
  • As of Oct 18, 2026, SPXX pays out 37% of its trailing 12-month earnings as dividends (its payout ratio).
  • SPXX's dividend has grown at an average rate of 6.2% a year over the past five years.
  • As of Oct 18, 2026, SPXX's 9.10% yield is 28% above its five-year average yield of 7.11%.
  • As of Oct 18, 2026, SmarterDividends' blended fair-value estimate for SPXX is $37.60 per share, 103% above the $18.52 share price, so SPXX screens as undervalued.
  • Nuveen S&P 500 Dynamic Overwrite Fund (SPXX) pays its dividend quarterly, 4 times a year.
  • Nuveen S&P 500 Dynamic Overwrite Fund (SPXX) has raised its regular dividend 6 times and cut it 8 times across the 93 payments on record since 2006. Its most recent change was a 24.9% increase to $0.422 per share, going ex-dividend on Jun 15, 2026. The last cut went ex-dividend on Jun 12, 2020.
Cite this page

SmarterDividends, "SPXX Dividend: Yield, Safety Grade & Next Ex-Date," updated Oct 18, 2026, https://smarterdividends.com/stocks/SPXX

Summary

As of Oct 18, 2026, Nuveen S&P 500 Dynamic Overwrite Fund (SPXX) yields 9.10% ($1.69 a year per share), has a dividend safety grade of B (70/100) and has 2 consecutive years of dividend increases on record.

Is SPXX a good dividend stock?

Yes, with caveats

Nuveen S&P 500 Dynamic Overwrite Fund (SPXX) pays a quarterly dividend yielding 9.10% ($1.69/yr), with 2 years of growth and a dividend-safety grade of B. It's a solid income payer, but check the caveats below before buying.

Advantages

  • Comfortable payout ratio (37%)
  • Strong 6.2% 5-yr dividend growth

Risks

  • Cut its dividend in 2020
  • Very high yield can signal elevated risk

Key Data

Dividend Yield
9.10%
Payout Ratio
37%
Annual Dividend
$1.69
5-Yr Avg Growth
6.2%
Ex-Dividend Date
Sep 15, 2026
Years of Growth
2
Frequency
quarterly
Beta
0.81
Market Cap
$332.9M
P/E Ratio
4.7
5-Yr Total Return
4%
52-Week Range
$15.78 – $19.39
Dividend Safety
B · 70/100
Ever Cut?
Yes (2020)

SPXX dividend raises and cuts

Nuveen S&P 500 Dynamic Overwrite Fund (SPXX) has raised its regular dividend 6 times and cut it 8 times across the 93 payments on record since 2006. Its most recent change was a 24.9% increase to $0.422 per share, going ex-dividend on Jun 15, 2026. The last cut went ex-dividend on Jun 12, 2020.

Ex-dateChangeOld → newMove
Jun 15, 2026Raise$0.338 → $0.422+24.9%
Dec 13, 2024Raise$0.294 → $0.338+15.0%
Mar 14, 2022Raise$0.245 → $0.294+20.0%
Jun 12, 2020Cut$0.265 → $0.245−7.5%
Mar 14, 2019Cut$0.280 → $0.265−5.4%
Mar 14, 2018Raise$0.253 → $0.280+10.7%
Sep 14, 2017Raise$0.240 → $0.253+5.4%
Sep 13, 2016Cut$0.250 → $0.240−4.0%
Mar 11, 2016Cut$0.261 → $0.250−4.2%
Mar 12, 2014Cut$0.280 → $0.261−6.8%
Mar 11, 2009Cut$0.291 → $0.280−3.8%
Dec 11, 2008Cut$0.385 → $0.291−24.4%
Show all 14 changes since 2007
Ex-dateChangeOld → newMove
Sep 11, 2008Cut$0.405 → $0.385−4.9%
Jun 13, 2007Raise$0.135 → $0.405+200.0%
Every SPXX payment →Download every raise and cut (CSV)
SPXX ex-dividend date & scheduleNext ex-date Sep 15, 2026 · full ex-dividend historyView →SPXX dividend historyEvery payment, totals by year, raises and cutsView →

Frequently Asked Questions

Is SPXX a good dividend stock?

Yes, with caveats. Nuveen S&P 500 Dynamic Overwrite Fund (SPXX) pays a quarterly dividend yielding 9.10% ($1.69/yr), with 2 years of growth and a dividend-safety grade of B. It's a solid income payer, but check the caveats below before buying.

Is SPXX undervalued?

Based on a blend of discounted cash flow, a dividend-discount model and an earnings-multiple estimate, SPXX's fair value is about $37.60 versus a $18.52 share price — so it looks undervalued (+103% vs. fair value).

Is SPXX's dividend safe?

SPXX has a dividend-safety grade of B (70/100), based on its payout coverage, free-cash-flow, 2-year growth streak, a dividend cut in 2020, debt and yield-versus-history.

What is SPXX's fair value?

Our blended fair-value estimate for SPXX is about $37.60 per share, roughly 103% above the current $18.52 price — combining a discounted cash flow, a dividend-discount model and an earnings multiple.

Is SPXX a buy, hold, or sell?

We don't issue formal ratings, but on the data SPXX screens as "yes, with caveats" and undervalued. Nuveen S&P 500 Dynamic Overwrite Fund (SPXX) pays a quarterly dividend yielding 9.10% ($1.69/yr), with 2 years of growth and a dividend-safety grade of B. It's a solid income payer, but check the caveats below before buying. This is research for your own analysis, not investment advice.

Will SPXX cut its dividend?

SPXX earns a dividend-safety grade of B (70/100), and has cut its dividend before (last in 2020). A higher score means lower cut risk based on payout coverage, cash flow and history — but no score guarantees a dividend.

Does SPXX pay a dividend?

Yes. Nuveen S&P 500 Dynamic Overwrite Fund pays a quarterly dividend of about $1.69 per share annually, a forward yield of roughly 9.10%.

What is SPXX's dividend yield?

As of Oct 18, 2026, SPXX's forward dividend yield is 9.10%, based on a $1.69 annual dividend and a $18.52 share price.

What is SPXX's dividend per share?

As of Oct 18, 2026, SPXX pays $1.69 per share per year, distributed on a quarterly basis.

What is SPXX's dividend payout ratio?

As of Oct 18, 2026, SPXX's payout ratio is 37% of trailing 12-month earnings — a comfortable level that leaves room to keep raising the dividend.

How many years has SPXX grown its dividend?

As of Oct 18, 2026, SPXX has increased its dividend for 2 consecutive years.

When is the next SPXX ex-dividend date?

As of Oct 18, 2026, SPXX's next ex-dividend date hasn't been announced. The most recent was Sep 15, 2026, for $0.42 per share.

SPXX Dividend News

SPXX
IncreaseSPXX·Jun 16, 2026

Nuveen SPXX Fund Raises Quarterly Distribution

Nuveen S&P 500 Dynamic Overwrite Fund lifted its quarterly payout to $0.422 per share, with shares trading ex-dividend on June 15, 2026.

Income Calculator

At $1.69 / yr per share

Per payment (quarterly)$42.25
Annual$169.00
Monthly avg$14.08

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