SmarterDividends
VMO

Invesco Municipal Opportunity Trust

VMO

Financial Services · Asset Management · Stock · monthly payer

$8.75

Undervalued · +27% Add to Portfolio

Forward Yield

8.57%

Annual Dividend

$0.75

Payout Ratio

268%

5-Yr Growth

4.8%

Ex-Date

Oct 14, 2026

Frequency

Monthly

Key facts about VMO's dividend

Data as of · Source: SmarterDividends data

  • As of Oct 18, 2026, Invesco Municipal Opportunity Trust (VMO) has a forward dividend yield of 8.57%, based on an annual dividend of $0.75 per share and a share price of $8.75.
  • As of Oct 18, 2026, VMO's dividend safety grade from SmarterDividends is C (54 out of 100), which rates the dividend as borderline.
  • By SmarterDividends' count, Invesco Municipal Opportunity Trust (VMO) has raised its dividend for 2 consecutive years as of Oct 18, 2026.
  • VMO last cut its regular dividend in 2023.
  • VMO's most recent ex-dividend date was Oct 14, 2026, for a dividend of $0.0630 per share.
  • As of Oct 18, 2026, VMO pays out 268% of its trailing 12-month earnings as dividends (its payout ratio).
  • VMO's dividend has grown at an average rate of 4.8% a year over the past five years.
  • As of Oct 18, 2026, VMO's 8.57% yield is 47% above its five-year average yield of 5.83%.
  • As of Oct 18, 2026, SmarterDividends' blended fair-value estimate for VMO is $11.09 per share, 27% above the $8.75 share price, so VMO screens as undervalued.
  • Invesco Municipal Opportunity Trust (VMO) pays its dividend monthly, 12 times a year.
  • Invesco Municipal Opportunity Trust (VMO) has raised its regular dividend 23 times and cut it 26 times across the 412 payments on record since 1992. Its most recent change was a 61.5% increase to $0.0630 per share, going ex-dividend on Jun 18, 2024. The last cut went ex-dividend on Sep 14, 2023.
Cite this page

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

Summary

As of Oct 18, 2026, Invesco Municipal Opportunity Trust (VMO) yields 8.57% ($0.75 a year per share), has a dividend safety grade of C (54/100) and has 2 consecutive years of dividend increases on record.

Is VMO a good dividend stock?

Mixed

Invesco Municipal Opportunity Trust (VMO) pays a monthly dividend yielding 8.57% ($0.75/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
    8.57%
    Payout Ratio
    268%
    Annual Dividend
    $0.75
    5-Yr Avg Growth
    4.8%
    Ex-Dividend Date
    Oct 14, 2026
    Years of Growth
    2
    Frequency
    monthly
    Beta
    0.70
    Market Cap
    $590.1M
    P/E Ratio
    31.3
    5-Yr Total Return
    -35%
    52-Week Range
    $8.12 – $10.10
    Dividend Safety
    C · 54/100
    Ever Cut?
    Yes (2023)

    VMO dividend raises and cuts

    Invesco Municipal Opportunity Trust (VMO) has raised its regular dividend 23 times and cut it 26 times across the 412 payments on record since 1992. Its most recent change was a 61.5% increase to $0.0630 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 → $0.0630+61.5%
    Feb 15, 2024Raise$0.0340 → $0.0390+14.7%
    Sep 14, 2023Cut$0.0360 → $0.0340−5.6%
    Apr 14, 2023Cut$0.0380 → $0.0360−5.3%
    Feb 14, 2023Cut$0.0390 → $0.0380−2.6%
    Nov 14, 2022Cut$0.0460 → $0.0390−15.2%
    Jul 14, 2022Cut$0.0490 → $0.0460−6.1%
    Apr 14, 2022Cut$0.0520 → $0.0490−5.8%
    Dec 13, 2021Cut$0.0530 → $0.0520−1.9%
    Jul 13, 2021Cut$0.0540 → $0.0530−1.9%
    Jan 14, 2021Raise$0.0520 → $0.0540+3.8%
    Aug 13, 2020Raise$0.0480 → $0.0520+8.3%
    Show all 49 changes since 1995
    Ex-dateChangeOld → newMove
    Feb 13, 2020Cut$0.0500 → $0.0480−4.0%
    Mar 12, 2019Cut$0.0550 → $0.0500−9.1%
    Oct 12, 2017Cut$0.0600 → $0.0550−8.3%
    Jul 12, 2017Cut$0.0640 → $0.0600−6.3%
    Apr 11, 2017Cut$0.0680 → $0.0640−5.9%
    Sep 12, 2016Cut$0.0730 → $0.0680−6.8%
    Dec 9, 2015Raise$0.0710 → $0.0730+2.8%
    Jul 9, 2015Raise$0.0690 → $0.0710+2.9%
    Apr 9, 2015Raise$0.0660 → $0.0690+4.5%
    Jun 11, 2014Raise$0.0650 → $0.0660+1.5%
    Jul 9, 2013Cut$0.0800 → $0.0650−18.8%
    Dec 12, 2012Cut$0.0860 → $0.0800−7.0%
    Dec 11, 2009Raise$0.0810 → $0.0860+6.2%
    Aug 12, 2009Raise$0.0710 → $0.0810+14.1%
    Jul 11, 2008Raise$0.0680 → $0.0710+4.4%
    Dec 12, 2007Raise$0.0660 → $0.0680+3.0%
    Dec 13, 2006Raise$0.0630 → $0.0660+4.8%
    Jul 12, 2006Cut$0.0650 → $0.0630−3.1%
    May 11, 2006Cut$0.0720 → $0.0650−9.7%
    Sep 13, 2005Cut$0.0740 → $0.0720−2.7%
    Jun 13, 2005Cut$0.0800 → $0.0740−7.5%
    Apr 13, 2005Cut$0.0840 → $0.0800−4.8%
    Feb 11, 2005Raise$0.0830 → $0.0840+1.2%
    Jun 14, 2004Cut$0.0910 → $0.0830−8.8%
    Apr 13, 2004Cut$0.0970 → $0.0910−6.2%
    Mar 11, 2004Raise$0.0960 → $0.0970+1.0%
    Sep 11, 2002Raise$0.0930 → $0.0960+3.2%
    Jun 12, 2002Raise$0.0890 → $0.0930+4.5%
    Feb 13, 2002Raise$0.0870 → $0.0890+2.3%
    Jan 11, 2002Raise$0.0830 → $0.0870+4.8%
    Nov 13, 2001Raise$0.0810 → $0.0830+2.5%
    Oct 11, 2001Raise$0.0780 → $0.0810+3.8%
    Jun 13, 2001Raise$0.0750 → $0.0780+4.0%
    Aug 11, 1999Cut$0.0760 → $0.0750−1.3%
    Jul 13, 1999Raise$0.0750 → $0.0760+1.3%
    Dec 13, 1995Cut$0.0810 → $0.0750−7.4%
    Sep 13, 1995Cut$0.0850 → $0.0810−4.7%
    Every VMO payment →Download every raise and cut (CSV)
    VMO ex-dividend date & scheduleNext ex-date Oct 14, 2026 · full ex-dividend historyView →VMO dividend historyEvery payment, totals by year, raises and cutsView →

    Frequently Asked Questions

    Is VMO a good dividend stock?

    Mixed. Invesco Municipal Opportunity Trust (VMO) pays a monthly dividend yielding 8.57% ($0.75/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 VMO undervalued?

    Based on a blend of discounted cash flow, a dividend-discount model and an earnings-multiple estimate, VMO's fair value is about $11.09 versus a $8.75 share price — so it looks undervalued (+27% vs. fair value).

    Is VMO's dividend safe?

    VMO has a dividend-safety grade of C (54/100), based on its payout coverage, free-cash-flow, 2-year growth streak, a dividend cut in 2023, debt and yield-versus-history.

    What is VMO's fair value?

    Our blended fair-value estimate for VMO is about $11.09 per share, roughly 27% above the current $8.75 price — combining a discounted cash flow, a dividend-discount model and an earnings multiple.

    Is VMO a buy, hold, or sell?

    We don't issue formal ratings, but on the data VMO screens as "mixed" and undervalued. Invesco Municipal Opportunity Trust (VMO) pays a monthly dividend yielding 8.57% ($0.75/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 VMO cut its dividend?

    VMO earns a dividend-safety grade of C (54/100), 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 VMO pay a dividend?

    Yes. Invesco Municipal Opportunity Trust pays a monthly dividend of about $0.75 per share annually, a forward yield of roughly 8.57%.

    What is VMO's dividend yield?

    As of Oct 18, 2026, VMO's forward dividend yield is 8.57%, based on a $0.75 annual dividend and a $8.75 share price.

    What is VMO's dividend per share?

    As of Oct 18, 2026, VMO pays $0.75 per share per year, distributed on a monthly basis.

    What is VMO's dividend payout ratio?

    As of Oct 18, 2026, VMO's payout ratio is 268% of trailing 12-month earnings — an elevated level worth watching, as it leaves less cushion if earnings dip.

    How many years has VMO grown its dividend?

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

    When is the next VMO ex-dividend date?

    As of Oct 18, 2026, VMO's next ex-dividend date hasn't been announced. The most recent was Oct 14, 2026, for $0.0630 per share.

    Income Calculator

    At $0.75 / yr per share

    Per payment (monthly)$6.25
    Annual$75.00
    Monthly avg$6.25

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