Invesco High Income Trust II
VLTFinancial Services · Stock · monthly payer
Forward Yield
11.57%
Annual Dividend
$1.07
Payout Ratio
160%
5-Yr Growth
-0.1%
Ex-Date
Sep 14, 2026
Frequency
Monthly
Summary
As of September 2026, Invesco High Income Trust II (VLT) yields 11.57% ($1.07 per share annually), with a blended fair-value estimate of $11.88 — +26% upside, so it screens as undervalued. Dividend safety grade: C (52/100).
Is VLT a good dividend stock?
MixedInvesco High Income Trust II (VLT) pays a monthly dividend yielding 11.57% ($1.07/yr), with 0 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 2017
- Elevated payout ratio (160%)
- Dividend has been shrinking, not growing
- Very high yield can signal elevated risk
- Share price is down over the past 5 years
Key Data
- Dividend Yield
- 11.57%
- Payout Ratio
- 160%
- Annual Dividend
- $1.07
- 5-Yr Avg Growth
- -0.1%
- Ex-Dividend Date
- Sep 14, 2026
- Years of Growth
- 0
- Frequency
- monthly
- Beta
- 0.72
- Market Cap
- $59.7M
- P/E Ratio
- 12.9
- 5-Yr Total Return
- -36%
- 52-Week Range
- $9.36 – $11.40
- Dividend Safety
- C · 52/100
- Ever Cut?
- Yes (2017)
Frequently Asked Questions
VLT Price — Last 12 Months
Daily close
Price Return
1 Year
-16%
3 Years
-0%
5 Years
-36%
52-Week Range
$9.36 – $11.40
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is VLT worth?
Undervaluedmedium confidenceOur blended fair-value estimate for Invesco High Income Trust II is $11.88 per share, versus a market price of $9.43. That implies 26% of upside — a margin of safety of about 21%.
Fair Value
$11.88
Current Price
$9.43
Upside
+26%
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 -2.6% annual free-cash-flow growth. We model 0.0% — below our estimate, leaving room for upside if the business executes.
Assumptions: 7.9% discount rate (CAPM), 0.0% stage-1 growth, 2.5% terminal growth, $0.71 EPS, $1.07 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
VLT 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 VLT dividend history →| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| Sep 14, 2026 | — | $0.0900 | regular |
| Aug 17, 2026 | — | $0.0900 | regular |
| Jul 14, 2026 | — | $0.0920 | regular |
| Jun 15, 2026 | — | $0.0920 | regular |
| May 14, 2026 | — | $0.0920 | regular |
| Apr 14, 2026 | — | $0.0920 | regular |
| Mar 16, 2026 | — | $0.0920 | regular |
| Feb 17, 2026 | — | $0.0940 | regular |
| Jan 15, 2026 | — | $0.0940 | regular |
| Dec 16, 2025 | — | $0.0940 | regular |
| Nov 17, 2025 | — | $0.0940 | regular |
| Oct 16, 2025 | — | $0.0940 | regular |
| Sep 16, 2025 | — | $0.0940 | regular |
| Aug 18, 2025 | — | $0.0960 | regular |
Income Calculator
At $1.07 / yr per share
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