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MFS Investment Grade Municipal Trust Announces Monthly Dividend of $0.0275
ByAinvest
Monday, Mar 3, 2025 4:31 pm ET1min read
MFS Investment Grade Municipal Trust has declared a $0.0275/share monthly dividend, with a forward yield of 4.03%. The dividend is payable on March 31 for shareholders of record on March 18 and ex-div on March 18. This announcement is part of the trust's regular dividend payments, which have been a key feature of the investment vehicle.
The MFS Investment Grade Municipal Trust (CXH) has announced its latest monthly dividend payment of $0.0275 per share [1]. This dividend is payable on March 31, 2023, to shareholders of record on March 18, and the ex-dividend date is March 18.The forward yield associated with this dividend is an attractive 4.03% [1]. This dividend declaration is in line with the trust's history of regular and consistent payments, making it a key feature of the investment vehicle.
According to Dividend.com, the MFS Investment Grade Municipal Trust has an annualized forward dividend yield of approximately 4.6% [2]. This yield is calculated by multiplying the most recent dividend payout amount by its frequency and dividing by the previous close price.
The trust's expense ratio, which represents its total annual operating expenses as a percentage of average net assets, was 0.49% as of December 31, 2022 [2]. This expense ratio is relatively low compared to other investment vehicles in the market.
The MFS Investment Grade Municipal Trust's forward payout ratio, which examines if a company's earnings can support the current dividend payment amount, is 10.5 [2]. This ratio indicates that the trust's earnings can comfortably support the current dividend payment.
The trust has a streak of consecutive years with dividend increases, with the number currently standing at 43 years [2]. This impressive record demonstrates the trust's commitment to providing consistent returns to its investors.
In conclusion, the MFS Investment Grade Municipal Trust's latest monthly dividend declaration of $0.0275 per share, with a forward yield of 4.03%, is in line with the trust's history of regular and consistent payments. The trust's low expense ratio, high forward payout ratio, and impressive streak of consecutive years with dividend increases make it an attractive investment option for income-seeking investors.
References:
[1] MFS Investment Grade Municipal Trust. (2023, March 10). Retrieved from https://www.mfs.com/en-us/individual-investor/product-strategies/closed-end-funds/CXH-mfs-investment-grade-municipal-trust.html
[2] Dividend.com. (n.d.). CXH-MFS Investment Grade Municipal Trust. Retrieved from https://www.dividend.com/stocks/financials/asset-management/investment-management/cxh-mfs-investment-grade-municipal-trust/
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