Pioneer Muni High Income Advantage Tr (MAV) Dividend Analysis: A Deep Dive into Its Performance ...
Understanding the Dividend Performance of Pioneer Muni High Income Advantage Tr (NYSE:MAV)
Pioneer Muni High Income Advantage Tr(NYSE:MAV) recently announced a dividend of $0.03 per share, payable on 2023-09-29, with the ex-dividend date set for 2023-09-19. As investors look forward to this upcoming payment, the spotlight also shines on the company's dividend history, yield, and growth rates. Using the data from GuruFocus, let's deep dive into Pioneer Muni High Income Advantage Tr's dividend performance and assess its sustainability.
Understanding Pioneer Muni High Income Advantage Tr's Business Model
Pioneer Muni High Income Advantage Tr is a closed-end fund designed to pursue high current income exempt from regular federal income tax and to seek capital appreciation. The fund invests in the fixed income markets of the United States. It invests primarily in municipal bonds. Geographically, its activities are carried out through the United States.
Historical Dividend Performance of Pioneer Muni High Income Advantage Tr
Pioneer Muni High Income Advantage Tr has maintained a consistent dividend payment record since 2003. Dividends are currently distributed on a monthly basis. Below is a chart showing annual Dividends Per Share for tracking historical trends.
Analysing Pioneer Muni High Income Advantage Tr's Dividend Yield and Growth
As of today, Pioneer Muni High Income Advantage Tr currently has a 12-month trailing dividend yield of 6.17% and a 12-month forward dividend yield of 5.94%. This suggests an expectation of decreased dividend payments over the next 12 months. Over the past three years, Pioneer Muni High Income Advantage Tr's annual dividend growth rate was 2.40%. Extended to a five-year horizon, this rate decreased to -3.90% per year. Based on Pioneer Muni High Income Advantage Tr's dividend yield and five-year growth rate, the 5-year yield on cost of Pioneer Muni High Income Advantage Tr stock as of today is approximately 5.02%.
Evaluating the Sustainability of Pioneer Muni High Income Advantage Tr's Dividend
To assess the sustainability of the dividend, one needs to evaluate the company's payout ratio. The dividend payout ratio provides insights into the portion of earnings the company distributes as dividends. A lower ratio suggests that the company retains a significant part of its earnings, thereby ensuring the availability of funds for future growth and unexpected downturns. As of 2023-03-31, Pioneer Muni High Income Advantage Tr's dividend payout ratio is 0.00. Pioneer Muni High Income Advantage Tr's profitability rank, offers an understanding of the company's earnings prowess relative to its peers. GuruFocus ranks Pioneer Muni High Income Advantage Tr's profitability 2 out of 10 as of 2023-03-31, suggesting the dividend may not be sustainable. The company has reported net profit in 4 years out of past 10 years.
Future Outlook: Growth Metrics of Pioneer Muni High Income Advantage Tr
To ensure the sustainability of dividends, a company must have robust growth metrics. Pioneer Muni High Income Advantage Tr's growth rank of 2 out of 10 suggests that the company has poor growth prospects and thus, the dividend may not be sustainable.
Concluding Thoughts on Pioneer Muni High Income Advantage Tr's Dividend Performance
In conclusion, while Pioneer Muni High Income Advantage Tr has a history of consistent dividend payments, its current payout ratio, profitability rank, and growth rank suggest potential challenges in sustaining its dividend in the long term. Investors should closely monitor these metrics to make informed decisions. GuruFocus Premium users can screen for high-dividend yield stocks using the High Dividend Yield Screener.
This article first appeared on GuruFocus.
