Invesco Trust for Investment Grade New York Municipals
VTNFinancial Services · Stock · monthly payer
Forward Yield
8.64%
Annual Dividend
$0.82
Payout Ratio
274%
5-Yr Growth
8.4%
Ex-Date
Sep 14, 2026
Frequency
Monthly
Summary
As of September 2026, Invesco Trust for Investment Grade New York Municipals (VTN) yields 8.64% ($0.82 per share annually), with a blended fair-value estimate of $14.53 — +45% upside, so it screens as undervalued. Dividend safety grade: C (54/100). 2 years of dividend growth.
Is VTN a good dividend stock?
MixedInvesco Trust for Investment Grade New York Municipals (VTN) pays a monthly dividend yielding 8.64% ($0.82/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
- Strong 8.4% 5-yr dividend growth
Risks
- Cut its dividend in 2023
- Elevated payout ratio (274%)
- Very high yield can signal elevated risk
- Share price is down over the past 5 years
Key Data
- Dividend Yield
- 8.64%
- Payout Ratio
- 274%
- Annual Dividend
- $0.82
- 5-Yr Avg Growth
- 8.4%
- Ex-Dividend Date
- Sep 14, 2026
- Years of Growth
- 2
- Frequency
- monthly
- Beta
- 0.69
- Market Cap
- $138.3M
- P/E Ratio
- 31.4
- 5-Yr Total Return
- -25%
- 52-Week Range
- $9.80 – $12.10
- Dividend Safety
- C · 54/100
- Ever Cut?
- Yes (2023)
Frequently Asked Questions
VTN Price — Last 12 Months
Daily close
Price Return
1 Year
-9%
3 Years
+17%
5 Years
-25%
52-Week Range
$9.80 – $12.10
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is VTN worth?
Undervaluedmedium confidenceOur blended fair-value estimate for Invesco Trust for Investment Grade New York Municipals is $14.53 per share, versus a market price of $10.04. That implies 45% of upside — a margin of safety of about 31%.
Fair Value
$14.53
Current Price
$10.04
Upside
+45%
Margin of Safety
31%
How we get there
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 -10.0% annual free-cash-flow growth. We model 8.4% — below our estimate, leaving room for upside if the business executes.
Assumptions: 7.7% discount rate (CAPM), 8.4% stage-1 growth, 2.5% terminal growth, $0.30 EPS, $0.82 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
VTN 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 VTN dividend history →| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| Sep 14, 2026 | — | $0.0690 | regular |
| Aug 17, 2026 | — | $0.0690 | regular |
| Jul 14, 2026 | — | $0.0690 | regular |
| Jun 15, 2026 | — | $0.0690 | regular |
| May 14, 2026 | — | $0.0690 | regular |
| Apr 14, 2026 | — | $0.0690 | regular |
| Mar 16, 2026 | — | $0.0690 | regular |
| Feb 17, 2026 | — | $0.0690 | regular |
| Jan 15, 2026 | — | $0.0690 | regular |
| Dec 16, 2025 | — | $0.0690 | regular |
| Nov 17, 2025 | — | $0.0690 | regular |
| Oct 16, 2025 | — | $0.0690 | regular |
| Sep 16, 2025 | — | $0.0690 | regular |
| Aug 18, 2025 | — | $0.0690 | regular |
Income Calculator
At $0.82 / yr per share
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