SmarterDividends
VGM

Invesco Trust for Investment Grade Municipals (VGM) Dividend

Invesco Trust for Investment Grade Municipals · Financial Services · Asset Management · monthly payer

$9.41

Undervalued · +24% Add to Portfolio

As of Nov 8, 2026, Invesco Trust for Investment Grade Municipals (VGM) pays a monthly dividend of $0.0650 per share, or $0.78 a year, a 8.24% yield at its $9.41 share price. The next ex-dividend date is Nov 16, 2026, paid Nov 30, 2026. It has raised its dividend 2 years in a row and has a dividend safety grade of C.

Forward Yield

8.24%

Annual Dividend

$0.78

Payout Ratio

250%

5-Yr Growth

4.8%

Ex-Date

Nov 16, 2026

Frequency

Monthly

Key facts about VGM's dividend

Data as of · Source: SmarterDividends data

  • As of Nov 8, 2026, Invesco Trust for Investment Grade Municipals (VGM) has a forward dividend yield of 8.24%, based on an annual dividend of $0.78 per share and a share price of $9.41.
  • As of Nov 8, 2026, VGM's dividend safety grade from SmarterDividends is C (55 out of 100), which rates the dividend as borderline.
  • By SmarterDividends' count, Invesco Trust for Investment Grade Municipals (VGM) has raised its dividend for 2 consecutive years as of Nov 8, 2026.
  • VGM last cut its regular dividend in 2023.
  • VGM's next ex-dividend date is Nov 16, 2026, with payment on Nov 30, 2026. Shares must be owned before that date to receive the dividend.
  • As of Nov 8, 2026, VGM pays out 250% of its trailing 12-month earnings as dividends (its payout ratio).
  • VGM's dividend has grown at an average rate of 4.8% a year over the past five years.
  • As of Nov 8, 2026, VGM's 8.24% yield is 43% above its five-year average yield of 5.77%.
  • As of Nov 8, 2026, SmarterDividends' blended fair-value estimate for VGM is $11.70 per share, 24% above the $9.41 share price, so VGM screens as undervalued.
  • Invesco Trust for Investment Grade Municipals (VGM) pays its dividend monthly, 12 times a year.
  • Invesco Trust for Investment Grade Municipals (VGM) has raised its regular dividend 23 times and cut it 32 times across the 416 payments on record since 1992. Its most recent change was a 66.7% increase to $0.0650 per share, going ex-dividend on Jun 18, 2024. The last cut went ex-dividend on Sep 14, 2023.
Cite this page

SmarterDividends, "VGM Dividend: Yield, Safety Grade & Next Ex-Date," updated Nov 8, 2026, https://smarterdividends.com/stocks/VGM

Is VGM a good dividend stock?

Mixed

Invesco Trust for Investment Grade Municipals (VGM) pays a monthly dividend yielding 8.24% ($0.78/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 2023
    • Elevated payout ratio (250%)
    • Very high yield can signal elevated risk
    • Share price is down over the past 5 years

    Key Data

    Dividend Yield
    8.24%
    Payout Ratio
    250%
    Annual Dividend
    $0.78
    5-Yr Avg Growth
    4.8%
    Ex-Dividend Date
    Nov 16, 2026
    Years of Growth
    2
    Frequency
    monthly
    Beta
    0.72
    Market Cap
    $510.3M
    P/E Ratio
    30.4
    5-Yr Total Return
    -31%
    52-Week Range
    $8.39 – $10.66
    Dividend Safety
    C · 55/100
    Ever Cut?
    Yes (2023)

    VGM dividend raises and cuts

    Invesco Trust for Investment Grade Municipals (VGM) has raised its regular dividend 23 times and cut it 32 times across the 416 payments on record since 1992. Its most recent change was a 66.7% increase to $0.0650 per share, going ex-dividend on Jun 18, 2024. The last cut went ex-dividend on Sep 14, 2023.

    Ex-dateChangeOld → newMove
    Jun 18, 2024Raise$0.0390 → $0.0650+66.7%
    Feb 15, 2024Raise$0.0340 → $0.0390+14.7%
    Sep 14, 2023Cut$0.0360 → $0.0340−5.6%
    Apr 14, 2023Cut$0.0390 → $0.0360−7.7%
    Feb 14, 2023Cut$0.0410 → $0.0390−4.9%
    Nov 14, 2022Cut$0.0460 → $0.0410−10.9%
    Jul 14, 2022Cut$0.0490 → $0.0460−6.1%
    Apr 14, 2022Cut$0.0520 → $0.0490−5.8%
    Dec 13, 2021Cut$0.0540 → $0.0520−3.7%
    Jul 13, 2021Cut$0.0550 → $0.0540−1.8%
    Feb 11, 2021Raise$0.0540 → $0.0550+1.9%
    Aug 13, 2020Raise$0.0490 → $0.0540+10.2%
    Show all 55 changes since 1992
    Ex-dateChangeOld → newMove
    Feb 13, 2020Cut$0.0520 → $0.0490−5.8%
    Aug 13, 2018Cut$0.0600 → $0.0520−13.3%
    Mar 14, 2018Cut$0.0640 → $0.0600−6.3%
    Aug 10, 2016Cut$0.0730 → $0.0640−12.3%
    Jul 9, 2015Cut$0.0740 → $0.0730−1.4%
    Jun 11, 2014Raise$0.0730 → $0.0740+1.4%
    Jul 9, 2013Cut$0.0830 → $0.0730−12.0%
    Dec 12, 2012Cut$0.0880 → $0.0830−5.7%
    Dec 11, 2009Raise$0.0820 → $0.0880+7.3%
    Aug 12, 2009Raise$0.0720 → $0.0820+13.9%
    Jul 11, 2008Raise$0.0690 → $0.0720+4.3%
    Dec 12, 2007Raise$0.0670 → $0.0690+3.0%
    Jan 11, 2007Raise$0.0640 → $0.0670+4.7%
    Jul 12, 2006Cut$0.0660 → $0.0640−3.0%
    May 11, 2006Cut$0.0720 → $0.0660−8.3%
    Jun 13, 2005Cut$0.0790 → $0.0720−8.9%
    Apr 13, 2005Cut$0.0830 → $0.0790−4.8%
    Apr 13, 2004Cut$0.0850 → $0.0830−2.4%
    Jun 11, 2003Cut$0.0920 → $0.0850−7.6%
    Sep 11, 2002Raise$0.0880 → $0.0920+4.5%
    Jun 12, 2002Raise$0.0850 → $0.0880+3.5%
    Feb 13, 2002Raise$0.0830 → $0.0850+2.4%
    Jan 11, 2002Raise$0.0780 → $0.0830+6.4%
    Nov 13, 2001Raise$0.0730 → $0.0780+6.8%
    Dec 13, 2000Cut$0.0750 → $0.0730−2.7%
    Sep 13, 2000Cut$0.0810 → $0.0750−7.4%
    Jun 13, 2000Cut$0.0830 → $0.0810−2.4%
    Jul 13, 1999Raise$0.0820 → $0.0830+1.2%
    Apr 13, 1998Cut$0.0850 → $0.0820−3.5%
    Jan 13, 1998Raise$0.0820 → $0.0850+3.7%
    Dec 11, 1997Cut$0.0850 → $0.0820−3.5%
    Jun 11, 1997Cut$0.0870 → $0.0850−2.3%
    Dec 11, 1996Cut$0.0950 → $0.0870−8.4%
    Sep 9, 1993Raise$0.0830 → $0.0950+14.5%
    Aug 9, 1993Cut$0.0910 → $0.0830−8.8%
    Jul 9, 1993Raise$0.0830 → $0.0910+9.6%
    Mar 9, 1993Cut$0.0900 → $0.0830−7.8%
    Feb 9, 1993Raise$0.0850 → $0.0900+5.9%
    Jan 11, 1993Cut$0.0860 → $0.0850−1.2%
    Dec 18, 1992Raise$0.0850 → $0.0860+1.2%
    Dec 9, 1992Raise$0.0830 → $0.0850+2.4%
    Nov 6, 1992Raise$0.0760 → $0.0830+9.2%
    Oct 26, 1992Cut$0.0850 → $0.0760−10.6%
    Every VGM payment →Download every raise and cut (CSV)
    VGM ex-dividend date & scheduleNext ex-date Nov 16, 2026 · full ex-dividend historyView →VGM dividend historyEvery payment, totals by year, raises and cutsView →VGM dividend calculator100 shares pay $78.00 a year, $6.50 each monthCalculate →VGM total return calculatorWhat $10,000 became, with dividends reinvested or taken as cashSee →

    Frequently Asked Questions

    Is VGM a good dividend stock?

    Mixed. Invesco Trust for Investment Grade Municipals (VGM) pays a monthly dividend yielding 8.24% ($0.78/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.

    Is VGM undervalued?

    Based on a blend of discounted cash flow, a dividend-discount model and an earnings-multiple estimate, VGM's fair value is about $11.70 versus a $9.41 share price — so it looks undervalued (+24% vs. fair value).

    Is VGM's dividend safe?

    VGM has a dividend-safety grade of C (55/100), based on its payout coverage, free-cash-flow, 2-year growth streak, a dividend cut in 2023, debt and yield-versus-history.

    What is VGM's fair value?

    Our blended fair-value estimate for VGM is about $11.70 per share, roughly 24% above the current $9.41 price — combining a discounted cash flow, a dividend-discount model and an earnings multiple.

    Is VGM a buy, hold, or sell?

    We don't issue formal ratings, but on the data VGM screens as "mixed" and undervalued. Invesco Trust for Investment Grade Municipals (VGM) pays a monthly dividend yielding 8.24% ($0.78/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. This is research for your own analysis, not investment advice.

    Will VGM cut its dividend?

    VGM earns a dividend-safety grade of C (55/100), and has cut its dividend before (last in 2023). A higher score means lower cut risk based on payout coverage, cash flow and history — but no score guarantees a dividend.

    Does VGM pay a dividend?

    Yes. Invesco Trust for Investment Grade Municipals pays a monthly dividend of about $0.78 per share annually, a forward yield of roughly 8.24%.

    How much dividend does 100 shares of VGM pay?

    At $0.78 per share a year, 100 shares of VGM pay $78.00 a year in dividends before tax, about $6.50 each month. Buying them costs about $941 at the Nov 8, 2026 price.

    What is VGM's dividend yield?

    As of Nov 8, 2026, VGM's forward dividend yield is 8.24%, based on a $0.78 annual dividend and a $9.41 share price.

    What is VGM's dividend per share?

    As of Nov 8, 2026, VGM pays $0.78 per share per year, distributed on a monthly basis.

    What is VGM's dividend payout ratio?

    As of Nov 8, 2026, VGM's payout ratio is 250% of trailing 12-month earnings — an elevated level worth watching, as it leaves less cushion if earnings dip.

    How many years has VGM grown its dividend?

    As of Nov 8, 2026, VGM has increased its dividend for 2 consecutive years.

    When is the next VGM ex-dividend date?

    As of Nov 8, 2026, the next ex-dividend date on record for VGM is Nov 16, 2026.

    Income Calculator

    At $0.78 / yr per share

    Per payment (monthly)$6.50
    Annual$78.00
    Monthly avg$6.50
    Full VGM dividend calculator →

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