Western Asset Managed Municipals Fund Inc.
MMUFinancial Services · Stock · monthly payer
Forward Yield
6.30%
Annual Dividend
$0.65
Payout Ratio
1635%
5-Yr Growth
4.1%
Ex-Date
Jun 23, 2026
Frequency
Monthly
Summary
As of June 2026, Western Asset Managed Municipals Fund Inc. (MMU) yields 6.30% ($0.65 per share annually), with a blended fair-value estimate of $12.15 — +17% upside, so it screens as undervalued. Dividend safety grade: C (54/100). 2 years of dividend growth.
Is MMU a good dividend stock?
MixedWestern Asset Managed Municipals Fund Inc. (MMU) pays a monthly dividend yielding 6.30% ($0.65/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 (1635%)
- Share price is down over the past 5 years
Key Data
- Dividend Yield
- 6.30%
- Payout Ratio
- 1635%
- Annual Dividend
- $0.65
- 5-Yr Avg Growth
- 4.1%
- Ex-Dividend Date
- Jun 23, 2026
- Years of Growth
- 2
- Frequency
- monthly
- Beta
- 0.52
- Market Cap
- $566.9M
- P/E Ratio
- 259.5
- 5-Yr Total Return
- -23%
- 52-Week Range
- $9.79 – $10.71
- Dividend Safety
- C · 54/100
- Ever Cut?
- Yes (2023)
Frequently Asked Questions
MMU Price — Last 12 Months
Daily close
Price Return
1 Year
+5%
3 Years
+4%
5 Years
-23%
52-Week Range
$9.79 – $10.71
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is MMU worth?
Undervaluedmedium confidenceOur blended fair-value estimate for Western Asset Managed Municipals Fund Inc. is $12.15 per share, versus a market price of $10.38. That implies 17% of upside — a margin of safety of about 15%.
Fair Value
$12.15
Current Price
$10.38
Upside
+17%
Margin of Safety
15%
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 5.2% annual free-cash-flow growth. We model 4.1% — so the price already assumes faster growth than we think is likely.
Assumptions: 7.0% discount rate (CAPM), 4.1% stage-1 growth, 2.5% terminal growth, $0.04 EPS, $0.65 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
MMU 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 | — | $0.0550 | regular |
| Apr 23, 2026 | — | $0.0550 | regular |
| Mar 24, 2026 | — | $0.0550 | regular |
| Feb 20, 2026 | — | $0.0550 | regular |
| Jan 23, 2026 | — | $0.0550 | regular |
| Dec 23, 2025 | — | $0.0550 | regular |
| Nov 20, 2025 | — | $0.0550 | regular |
| Oct 24, 2025 | — | $0.0550 | regular |
| Sep 23, 2025 | — | $0.0550 | regular |
| Aug 22, 2025 | — | $0.0550 | regular |
| Jul 24, 2025 | — | $0.0550 | regular |
| Jun 23, 2025 | — | $0.0550 | regular |
| May 22, 2025 | — | $0.0550 | regular |
| Apr 23, 2025 | — | $0.0550 | regular |
Income Calculator
At $0.65 / yr per share
