Definitive Analysis | Institutional-Grade Financial Research
Definitive Analysis
Get Full Access
See Pricing Start Free Trial

Nuveen Massachusetts Quality Municipal Income Fund (NMT)

Company Dividend Discount ModelIndustry: Asset Management - IncomeSector: Financial Services

Valuation Snapshot

Stable Growth$4.94 - $7.12$6.00
Multi-Stage$8.60 - $9.41$9.00
Blended Fair Value$7.50
Current Price$12.09
Upside-37.96%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2025202420232022202120202019201820172016
DPS10.69%2.37%0.540.240.270.350.360.330.340.420.450.00
YoY Growth--124.87%-10.71%-22.90%-3.01%10.64%-3.85%-19.02%-7.12%0.00%-100.00%
Dividend Yield--4.51%2.29%2.64%2.88%2.44%2.50%2.66%3.33%3.26%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)9.79
(-) Cash Dividends Paid (M)7.89
(=) Cash Retained (M)1.90
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)1.961.220.73
Cash Retained (M)1.901.901.90
(-) Cash Required (M)-1.96-1.22-0.73
(=) Excess Retained (M)-0.060.671.16
(/) Shares Outstanding (M)13.9913.9913.99
(=) Excess Retained per Share0.000.050.08
LTM Dividend per Share0.560.560.56
(+) Excess Retained per Share0.000.050.08
(=) Adjusted Dividend0.560.610.65
WACC / Discount Rate9.10%9.10%9.10%
Growth Rate-2.00%-1.00%0.00%
Fair Value$4.94$6.00$7.12
Upside / Downside-59.10%-50.33%-41.14%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)9.799.699.609.509.409.319.59
Payout Ratio80.62%82.49%84.37%86.25%88.12%90.00%92.50%
Projected Dividends (M)7.898.008.108.198.298.388.87

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.10%9.10%9.10%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)7.257.337.40
Year 2 PV (M)6.676.806.94
Year 3 PV (M)6.126.316.50
Year 4 PV (M)5.625.856.09
Year 5 PV (M)5.155.425.70
PV of Terminal Value (M)89.4694.1298.97
Equity Value (M)120.27125.83131.61
Shares Outstanding (M)13.9913.9913.99
Fair Value$8.60$9.00$9.41
Upside / Downside-28.88%-25.59%-22.17%

High-Yield Dividend Screener

« Prev Page 19 of 30 Next »
Ticker Company Dividend Yield % Dividend Per Share Payout Ratio %
SIGISelective Insurance Group, Inc.1.77%$1.4822.19%
FUSBFirst US Bancshares, Inc.1.76%$0.2526.72%
RRyder System, Inc.1.76%$3.4128.29%
RGAReinsurance Group of America, Incorporated1.75%$3.5527.34%
TFG.ASTetragon Financial Group Limited1.75%$0.303.32%
WFCWells Fargo & Company1.75%$1.6725.46%
HCKTThe Hackett Group, Inc.1.74%$0.3485.97%
LEGLeggett & Platt, Incorporated1.74%$0.1911.94%
RPRXRoyalty Pharma plc1.74%$0.6749.36%
SFBCSound Financial Bancorp, Inc.1.74%$0.7637.96%
SXTSensient Technologies Corporation1.74%$1.6350.00%
MKTXMarketAxess Holdings Inc.1.73%$3.0952.31%
PRGPROG Holdings, Inc.1.73%$0.5112.57%
STELStellar Bancorp, Inc.1.73%$0.5326.88%
UFCSUnited Fire Group, Inc.1.73%$0.6214.63%
AMALAmalgamated Financial Corp.1.72%$0.5516.32%
BKThe Bank of New York Mellon Corporation1.72%$2.0127.06%
COWNCowen Inc.1.72%$0.6733.32%
DGDollar General Corporation1.72%$2.3540.66%
AMKRAmkor Technology, Inc.1.71%$0.7359.04%
DTFDTF Tax-Free Income 2028 Term Fund Inc.1.71%$0.2080.42%
ERIEErie Indemnity Company1.71%$4.7538.59%
FLXSFlexsteel Industries, Inc.1.71%$0.6817.01%
MTCHMatch Group, Inc.1.71%$0.5425.07%
LBRTLiberty Energy Inc.1.70%$0.3228.43%
OVBCOhio Valley Banc Corp.1.70%$0.6728.36%
WTFCWintrust Financial Corporation1.70%$2.4320.92%
BANFBancFirst Corporation1.69%$1.8025.72%
BDLFlanigan's Enterprises, Inc.1.69%$0.5021.50%
CDHAXCalvert International Responsible Idx A1.69%$0.6441.92%
CINRSisecam Resources LP1.69%$0.3419.21%
EXPOExponent, Inc.1.69%$1.1858.07%
GDGeneral Dynamics Corporation1.69%$5.8037.41%
HQIHireQuest, Inc.1.69%$0.1836.36%
OTFBlue Owl Technology Finance Corp.1.69%$0.249.20%
PHINPHINIA Inc.1.68%$1.0947.78%
PTRSPartners Bancorp1.68%$0.1213.62%
RNGRRanger Energy Services, Inc.1.67%$0.2434.90%
HQHAbrdn Healthcare Investors1.66%$0.316.95%
JILLJ.Jill, Inc.1.66%$0.2310.45%
PSH.ASPershing Square Holdings, Ltd.1.65%$0.856.48%
SKTTanger Inc.1.65%$0.5558.16%
USCBUSCB Financial Holdings, Inc.1.64%$0.3018.70%
BOTJBank of the James Financial Group, Inc.1.62%$0.3026.41%
RSReliance Steel & Aluminum Co.1.62%$4.7834.66%
SCIService Corporation International1.62%$1.2533.57%
SMLPSummit Midstream Partners, LP1.62%$0.596.02%
TKRThe Timken Company1.62%$1.4032.90%
TRINLTrinity Capital Inc. - 7.00% No1.62%$0.4120.50%
CARRCarrier Global Corporation1.61%$0.8618.56%