Invesco Municipal Trust (VKQ)
Financial Services · NYQ
Fundamentals
Valuation and ratings
Invesco Municipal Trust trades at USD9.68, which is 19% below the USD11.55 our discounted cash flow model puts on the business. On that measure alone it screens as undervalued, though a DCF is an argument rather than a measurement, and the market is frequently right about why something is cheap.
Our moat model scores it 59 out of 100, which is a moat, but not a deep one. A moat is a structural reason competitors cannot take the profits away, and it matters more to a long holding period than any single quarter's numbers do.
It changes hands at 33.1 times earnings. Be careful reading that in isolation: for a cyclical business a low P/E arrives at the top of the cycle, when profits are peaking and about to fall, which is exactly when the shares look cheapest and are not.
VKQ dividend history
Dividends per share by year
| Year | Total per share | Payments |
|---|---|---|
| 2026 (year to date) | USD0.441 | 7 |
| 2025 | USD0.756 | 12 |
| 2024 | USD0.632 | 12 |
| 2023 | USD0.438 | 12 |
| 2022 | USD0.557 | 12 |
| 2021 | USD0.633 | 12 |
| 2020 | USD0.597 | 12 |
| 2019 | USD0.617 | 12 |
| 2018 | USD0.666 | 12 |
| 2017 | USD0.720 | 12 |
| 2016 | USD0.788 | 12 |
Split-adjusted amounts in the listing currency, grouped by the calendar year of the ex-dividend date, from the filed record. Growth and streak figures compare complete years only.
About Invesco Municipal Trust
Invesco Municipal Trust is a closed-ended fixed income mutual fund launched by Invesco Ltd. The fund is co-managed by Invesco Advisers, Inc., INVESCO Asset Management (Japan) Limited, INVESCO Asset Management Deutschland GmbH, INVESCO Asset Management Limited, Invesco Hong Kong Limited, INVESCO Senior Secured Management, Inc., and Invesco Canada Ltd. It primarily invests in investment grade municipal securities which include municipal bonds, municipal notes, municipal commercial paper, and lease obligations. The fund employs fundamental analysis with bottom-up security selection approach to create its portfolio. It was formerly known as Invesco Van Kampen Municipal Trust. Invesco Municipal Trust was formed on September 27, 1991 and is domiciled in the United States.
VKQ passes 4 of our 30 screens today
Each screen prints the exact criteria it used, and the circumstances in which it is wrong.
Common questions
Is Invesco Municipal Trust (VKQ) undervalued?
Against our discounted cash flow estimate of USD11.55, VKQ at USD9.68 is 19% below fair value. That is one model's answer, not a recommendation, and most of a DCF's output sits in a terminal value nobody can forecast.
What is VKQ's P/E ratio?
VKQ trades at 33.1 times earnings. A low P/E is not automatically cheap: on a cyclical company it is usually a warning that earnings are at a peak.
Does Invesco Municipal Trust (VKQ) pay a dividend?
Yes. Invesco Municipal Trust yields 7.60% at the current share price. It has paid USD0.756 per share over the trailing twelve months. It has paid a dividend in each of the last 35 complete calendar years. A dividend is declared by the board and can be cut at any time; a yield is a fact about the current price, not a promise.
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Data from company filings, exchange quotes and SEC EDGAR 13F disclosures. Quotes are delayed. Metrics we do not have are left out rather than estimated. Educational information, not financial advice.