Western Asset Investment Grade Income Fund Inc.
PAIFinancial Services · Stock · monthly payer
Forward Yield
5.22%
Annual Dividend
$0.63
Payout Ratio
62%
5-Yr Growth
0.8%
Ex-Date
Jun 23, 2026
Frequency
Monthly
Summary
As of June 2026, Western Asset Investment Grade Income Fund Inc. (PAI) yields 5.22% ($0.63 per share annually), with a blended fair-value estimate of $11.98 — -1% downside, so it screens as fairly valued. Dividend safety grade: C (64/100). 3 years of dividend growth.
Is PAI a good dividend stock?
Yes, with caveatsWestern Asset Investment Grade Income Fund Inc. (PAI) pays a monthly dividend yielding 5.22% ($0.63/yr), with 3 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 2021
- Share price is down over the past 5 years
Key Data
- Dividend Yield
- 5.22%
- Payout Ratio
- 62%
- Annual Dividend
- $0.63
- 5-Yr Avg Growth
- 0.8%
- Ex-Dividend Date
- Jun 23, 2026
- Years of Growth
- 3
- Frequency
- monthly
- Beta
- 0.48
- Market Cap
- $114.9M
- P/E Ratio
- 11.8
- 5-Yr Total Return
- -23%
- 52-Week Range
- $11.72 – $13.66
- Dividend Safety
- C · 64/100
- Ever Cut?
- Yes (2021)
Frequently Asked Questions
PAI Price — Last 12 Months
Daily close
Price Return
1 Year
-6%
3 Years
+3%
5 Years
-23%
52-Week Range
$11.72 – $13.66
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is PAI worth?
Fairly valuedmedium confidenceOur blended fair-value estimate for Western Asset Investment Grade Income Fund Inc. is $11.98 per share, versus a market price of $12.08. That implies the stock is roughly fairly priced.
Fair Value
$11.98
Current Price
$12.08
Gap
-1%
Margin of Safety
-1%
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.
Assumptions: 7.0% discount rate (CAPM), 1.2% stage-1 growth, 2.5% terminal growth, $1.02 EPS, $0.63 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
PAI 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 | — | $0.0530 | regular |
| Apr 23, 2026 | — | $0.0530 | regular |
| Mar 24, 2026 | — | $0.0530 | regular |
| Feb 20, 2026 | — | $0.0530 | regular |
| Dec 31, 2025 | — | $0.0530 | regular |
| Dec 10, 2025 | — | $0.0530 | regular |
| Nov 20, 2025 | — | $0.0530 | regular |
| Oct 24, 2025 | — | $0.0530 | regular |
| Sep 23, 2025 | — | $0.0530 | regular |
| Aug 22, 2025 | — | $0.0530 | regular |
| Jul 24, 2025 | — | $0.0530 | regular |
| Jun 23, 2025 | — | $0.0530 | regular |
| May 22, 2025 | — | $0.0530 | regular |
| Apr 23, 2025 | — | $0.0530 | regular |
Income Calculator
At $0.63 / yr per share
