Nuveen AMT-Free Quality Municipal Income Fund
NEAFinancial Services · Stock · monthly payer
Forward Yield
8.09%
Annual Dividend
$0.82
Payout Ratio
107%
5-Yr Growth
4.8%
Ex-Date
Aug 14, 2026
Frequency
Monthly
Summary
As of September 2026, Nuveen AMT-Free Quality Municipal Income Fund (NEA) yields 8.09% ($0.82 per share annually), with a blended fair-value estimate of $13.77 — +34% upside, so it screens as undervalued. Dividend safety grade: D (45/100). 2 years of dividend growth.
Is NEA a good dividend stock?
MixedNuveen AMT-Free Quality Municipal Income Fund (NEA) pays a monthly dividend yielding 8.09% ($0.82/yr), with 2 years of growth and a dividend-safety grade of D. 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 (107%)
- Very high yield can signal elevated risk
- Share price is down over the past 5 years
- Below-average dividend safety score
Key Data
- Dividend Yield
- 8.09%
- Payout Ratio
- 107%
- Annual Dividend
- $0.82
- 5-Yr Avg Growth
- 4.8%
- Ex-Dividend Date
- Aug 14, 2026
- Years of Growth
- 2
- Frequency
- monthly
- Beta
- 0.69
- Market Cap
- $3.0B
- P/E Ratio
- 12.7
- 5-Yr Total Return
- -32%
- 52-Week Range
- $10.30 – $11.90
- Dividend Safety
- D · 45/100
- Ever Cut?
- Yes (2023)
Frequently Asked Questions
NEA Price — Last 12 Months
Daily close
Price Return
1 Year
-12%
3 Years
+9%
5 Years
-32%
52-Week Range
$10.30 – $11.90
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is NEA worth?
Undervaluedmedium confidenceOur blended fair-value estimate for Nuveen AMT-Free Quality Municipal Income Fund is $13.77 per share, versus a market price of $10.31. That implies 34% of upside — a margin of safety of about 25%.
Fair Value
$13.77
Current Price
$10.31
Upside
+34%
Margin of Safety
25%
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.
Earnings multiple (Graham)
Graham's earnings-multiple formula, anchored to bond yields.
At today's price, the market is pricing in about 14.2% annual free-cash-flow growth. We model 8.6% — so the price already assumes faster growth than we think is likely.
Assumptions: 7.8% discount rate (CAPM), 8.6% stage-1 growth, 2.5% terminal growth, $0.78 EPS, $0.82 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
NEA Dividend Safety Score
Risky
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 NEA dividend history →| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| Sep 15, 2026 | — | $0.0680 | regular |
| Aug 14, 2026 | — | $0.0680 | regular |
| Jul 15, 2026 | — | $0.0680 | regular |
| Jun 15, 2026 | — | $0.0680 | regular |
| May 15, 2026 | — | $0.0680 | regular |
| Apr 15, 2026 | — | $0.0680 | regular |
| Mar 13, 2026 | — | $0.0680 | regular |
| Feb 13, 2026 | — | $0.0680 | regular |
| Jan 15, 2026 | — | $0.0680 | regular |
| Dec 15, 2025 | — | $0.0680 | regular |
| Nov 14, 2025 | — | $0.0680 | regular |
| Oct 15, 2025 | — | $0.0680 | regular |
| Sep 15, 2025 | — | $0.0680 | regular |
| Aug 15, 2025 | — | $0.0730 | regular |
Income Calculator
At $0.82 / yr per share
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