Invesco Advantage Municipal Income Trust II
VKIFinancial Services · Stock · monthly payer
Forward Yield
8.22%
Annual Dividend
$0.67
Payout Ratio
268%
5-Yr Growth
4.5%
Ex-Date
Sep 14, 2026
Frequency
Monthly
Summary
As of September 2026, Invesco Advantage Municipal Income Trust II (VKI) yields 8.22% ($0.67 per share annually), with a blended fair-value estimate of $9.61 — +14% upside, so it screens as fairly valued. Dividend safety grade: C (54/100). 2 years of dividend growth.
Is VKI a good dividend stock?
MixedInvesco Advantage Municipal Income Trust II (VKI) pays a monthly dividend yielding 8.22% ($0.67/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 (268%)
- Very high yield can signal elevated risk
- Share price is down over the past 5 years
Key Data
- Dividend Yield
- 8.22%
- Payout Ratio
- 268%
- Annual Dividend
- $0.67
- 5-Yr Avg Growth
- 4.5%
- Ex-Dividend Date
- Sep 14, 2026
- Years of Growth
- 2
- Frequency
- monthly
- Beta
- 0.66
- Market Cap
- $357.5M
- P/E Ratio
- 32.2
- 5-Yr Total Return
- -30%
- 52-Week Range
- $8.31 – $9.60
- Dividend Safety
- C · 54/100
- Ever Cut?
- Yes (2023)
Frequently Asked Questions
VKI Price — Last 12 Months
Daily close
Price Return
1 Year
-6%
3 Years
+16%
5 Years
-30%
52-Week Range
$8.31 – $9.60
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is VKI worth?
Fairly valuedmedium confidenceOur blended fair-value estimate for Invesco Advantage Municipal Income Trust II is $9.61 per share, versus a market price of $8.43. That implies the stock is roughly fairly priced.
Fair Value
$9.61
Current Price
$8.43
Gap
+14%
Margin of Safety
12%
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 4.0% annual free-cash-flow growth. We model 4.9% — below our estimate, leaving room for upside if the business executes.
Assumptions: 7.6% discount rate (CAPM), 4.9% stage-1 growth, 2.5% terminal growth, $0.25 EPS, $0.67 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
VKI 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 VKI dividend history →| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| Sep 14, 2026 | — | $0.0560 | regular |
| Aug 17, 2026 | — | $0.0560 | regular |
| Jul 14, 2026 | — | $0.0560 | regular |
| Jun 15, 2026 | — | $0.0560 | regular |
| May 14, 2026 | — | $0.0560 | regular |
| Apr 14, 2026 | — | $0.0560 | regular |
| Mar 16, 2026 | — | $0.0560 | regular |
| Feb 17, 2026 | — | $0.0560 | regular |
| Jan 15, 2026 | — | $0.0560 | regular |
| Dec 16, 2025 | — | $0.0560 | regular |
| Nov 17, 2025 | — | $0.0560 | regular |
| Oct 16, 2025 | — | $0.0560 | regular |
| Sep 16, 2025 | — | $0.0560 | regular |
| Aug 18, 2025 | — | $0.0560 | regular |
Income Calculator
At $0.67 / yr per share
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