MFS High Yield Municipal Trust
CMUStock · monthly payer
Forward Yield
16.10%
Annual Dividend
$0.19
Payout Ratio
—
5-Yr Growth
-2.9%
Ex-Date
—
Frequency
Monthly
Summary
As of June 2026, MFS High Yield Municipal Trust (CMU) yields 16.10% ($0.19 per share annually), with a blended fair-value estimate of $4.20 — +25% upside, so it screens as undervalued. Dividend safety grade: C (60/100). 2 years of dividend growth.
Is CMU a good dividend stock?
Yes, with caveatsMFS High Yield Municipal Trust (CMU) pays a monthly dividend yielding 16.10% ($0.19/yr), with 2 years of growth and a dividend-safety grade of C. It's a solid income payer, but check the caveats below before buying.
Advantages
Risks
- Cut its dividend in 2023
- 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
- 16.10%
- Payout Ratio
- —
- Annual Dividend
- $0.19
- 5-Yr Avg Growth
- -2.9%
- Ex-Dividend Date
- —
- Years of Growth
- 2
- Frequency
- monthly
- Beta
- 0.65
- Market Cap
- $85.7M
- P/E Ratio
- —
- 5-Yr Total Return
- -29%
- 52-Week Range
- $3.21 – $3.73
- Dividend Safety
- C · 60/100
- Ever Cut?
- Yes (2023)
Frequently Asked Questions
CMU Price — Last 12 Months
Daily close
Price Return
1 Year
+1%
3 Years
+4%
5 Years
-29%
52-Week Range
$3.21 – $3.73
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is CMU worth?
Undervaluedmedium confidenceOur blended fair-value estimate for MFS High Yield Municipal Trust is $4.20 per share, versus a market price of $3.36. That implies 25% of upside — a margin of safety of about 20%.
Fair Value
$4.20
Current Price
$3.36
Upside
+25%
Margin of Safety
20%
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 -2.3% — below our estimate, leaving room for upside if the business executes.
Assumptions: 7.5% discount rate (CAPM), -2.3% stage-1 growth, 2.5% terminal growth, $0.00 EPS, $0.20 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
CMU 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 |
|---|---|---|---|
| May 21, 2026 | — | $0.0860 | regular |
| May 21, 2026 | — | $0.0863 | regular |
| May 19, 2026 | — | $0.0170 | regular |
| May 19, 2026 | — | $0.0165 | regular |
| Apr 14, 2026 | — | $0.0170 | regular |
| Apr 14, 2026 | — | $0.0165 | regular |
| Mar 17, 2026 | — | $0.0170 | regular |
| Mar 17, 2026 | — | $0.0165 | regular |
| Feb 17, 2026 | — | $0.0170 | regular |
| Feb 17, 2026 | — | $0.0165 | regular |
| Jan 20, 2026 | — | $0.0170 | regular |
| Jan 20, 2026 | — | $0.0165 | regular |
| Dec 16, 2025 | — | $0.0170 | regular |
| Dec 16, 2025 | — | $0.0165 | regular |
Income Calculator
At $0.19 / yr per share
