Eaton Vance California Municipal Income Trust
CEVFinancial Services · Stock · monthly payer
Forward Yield
5.67%
Annual Dividend
$0.60
Payout Ratio
73%
5-Yr Growth
1.8%
Ex-Date
Jul 14, 2026
Frequency
Monthly
Summary
As of July 2026, Eaton Vance California Municipal Income Trust (CEV) yields 5.67% ($0.60 per share annually), with a blended fair-value estimate of $16.51 — +56% upside, so it screens as undervalued. Dividend safety grade: C (52/100). 2 years of dividend growth.
Is CEV a good dividend stock?
MixedEaton Vance California Municipal Income Trust (CEV) pays a monthly dividend yielding 5.67% ($0.60/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
- Share price is down over the past 5 years
Key Data
- Dividend Yield
- 5.67%
- Payout Ratio
- 73%
- Annual Dividend
- $0.60
- 5-Yr Avg Growth
- 1.8%
- Ex-Dividend Date
- Jul 14, 2026
- Years of Growth
- 2
- Frequency
- monthly
- Beta
- 0.58
- Market Cap
- $73.9M
- P/E Ratio
- —
- 5-Yr Total Return
- -25%
- 52-Week Range
- $9.35 – $10.78
- Dividend Safety
- C · 52/100
- Ever Cut?
- Yes (2023)
Frequently Asked Questions
CEV Price — Last 12 Months
Daily close
Price Return
1 Year
+12%
3 Years
+9%
5 Years
-25%
52-Week Range
$9.35 – $10.78
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is CEV worth?
Undervaluedmedium confidenceOur blended fair-value estimate for Eaton Vance California Municipal Income Trust is $16.51 per share, versus a market price of $10.59. That implies 56% of upside — a margin of safety of about 36%.
Fair Value
$16.51
Current Price
$10.59
Upside
+56%
Margin of Safety
36%
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.
At today's price, the market is pricing in about -10.0% annual free-cash-flow growth. We model 1.2% — below our estimate, leaving room for upside if the business executes.
Assumptions: 7.2% discount rate (CAPM), 1.2% stage-1 growth, 2.5% terminal growth, $0.00 EPS, $0.60 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
CEV 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
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| Jul 14, 2026 | — | $0.0500 | regular |
| Jun 12, 2026 | — | $0.0500 | regular |
| May 14, 2026 | — | $0.0500 | regular |
| Apr 14, 2026 | — | $0.0500 | regular |
| Mar 13, 2026 | — | $0.0500 | regular |
| Feb 13, 2026 | — | $0.0500 | regular |
| Jan 14, 2026 | — | $0.0500 | regular |
| Dec 12, 2025 | — | $0.0500 | regular |
| Nov 13, 2025 | — | $0.0500 | regular |
| Oct 14, 2025 | — | $0.0500 | regular |
| Sep 12, 2025 | — | $0.0500 | regular |
| Aug 13, 2025 | — | $0.0500 | regular |
| Jul 11, 2025 | — | $0.0500 | regular |
| Jun 13, 2025 | — | $0.0500 | regular |
Income Calculator
At $0.60 / yr per share
