Nuveen S&P 500 Dynamic Overwrite Fund
SPXXFinancial Services · Stock · quarterly payer
Forward Yield
9.30%
Annual Dividend
$1.69
Payout Ratio
61%
5-Yr Growth
6.2%
Ex-Date
Jun 15, 2026
Frequency
Quarterly
Summary
As of June 2026, Nuveen S&P 500 Dynamic Overwrite Fund (SPXX) yields 9.30% ($1.69 per share annually), with a blended fair-value estimate of $39.55 — +117% upside, so it screens as undervalued. Dividend safety grade: C (63/100). 2 years of dividend growth.
Is SPXX a good dividend stock?
Yes, with caveatsNuveen S&P 500 Dynamic Overwrite Fund (SPXX) pays a quarterly dividend yielding 9.30% ($1.69/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
- Strong 6.2% 5-yr dividend growth
Risks
- Cut its dividend in 2020
- Very high yield can signal elevated risk
Key Data
- Dividend Yield
- 9.30%
- Payout Ratio
- 61%
- Annual Dividend
- $1.69
- 5-Yr Avg Growth
- 6.2%
- Ex-Dividend Date
- Jun 15, 2026
- Years of Growth
- 2
- Frequency
- quarterly
- Beta
- 0.81
- Market Cap
- $325.7M
- P/E Ratio
- 8.1
- 5-Yr Total Return
- 0%
- 52-Week Range
- $15.78 – $18.53
- Dividend Safety
- C · 63/100
- Ever Cut?
- Yes (2020)
Frequently Asked Questions
SPXX Price — Last 12 Months
Daily close
Price Return
1 Year
+3%
3 Years
+16%
5 Years
+0%
52-Week Range
$15.78 – $18.53
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is SPXX worth?
Undervaluedlow confidenceOur blended fair-value estimate for Nuveen S&P 500 Dynamic Overwrite Fund is $39.55 per share, versus a market price of $18.20. That implies 117% of upside — a margin of safety of about 54%.
Fair Value
$39.55
Current Price
$18.20
Upside
+117%
Margin of Safety
54%
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: 8.4% discount rate (CAPM), 6.6% stage-1 growth, 2.5% terminal growth, $2.23 EPS, $1.69 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
SPXX 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 |
|---|---|---|---|
| Jun 15, 2026 | — | $0.4220 | regular |
| Mar 13, 2026 | — | $0.3380 | regular |
| Dec 15, 2025 | — | $0.3380 | regular |
| Sep 15, 2025 | — | $0.3380 | regular |
| Jun 13, 2025 | — | $0.3380 | regular |
| Mar 14, 2025 | — | $0.3380 | regular |
| Dec 13, 2024 | — | $0.3380 | regular |
| Sep 13, 2024 | — | $0.2940 | regular |
| Jun 14, 2024 | — | $0.2940 | regular |
| Mar 14, 2024 | — | $0.2940 | regular |
| Dec 14, 2023 | — | $0.2940 | regular |
| Sep 14, 2023 | — | $0.2940 | regular |
| Jun 14, 2023 | — | $0.2940 | regular |
| Mar 14, 2023 | — | $0.2940 | regular |
Income Calculator
At $1.69 / yr per share
