Invesco Value Municipal Income Trust owns bonds issued by public-sector borrowers across the United States. The aim is to turn municipal interest payments into regular income that is generally exempt from federal income tax, while the value of the bonds and the fund's shares can move independently.
Business
Municipal income funds
Listing
IIM · New York Stock Exchange
Reporting period
2026-02-28
Dividend schedule
Monthly
How the business works
Municipal borrowers pay interest to IIM. The fund pays its borrowing and operating costs before net investment income reaches common shareholders. Credit selection and interest-rate moves affect portfolio value, so the income statement and NAV belong in the same conversation.
Extras are shown separately and are not assumed to repeat.
Reported earnings
Each measure shown separately, per share
Net investment income$0.58
Mar 1, 2025 to Feb 28, 2026
$0.00$0.58
Distribution yield7.64%Sourced distributions divided by dated market priceTrailing 12-month income yield5.55%Net investment income for Mar 1, 2025 to Feb 28, 2026, divided by market price $10.4500 on Sep 29, 2026. Historical income; not a forecast.Annual dividend$0.93Current regular payment annualized per share
Dividend payment history
Date or month
Per share
Sep 30, 2026
$0.0771
Reported earnings and sources
Reported earnings for the latest four periods. Compare the same earnings measure across periods; different measures are not added together.
Cash distributions are the total paid per share during each reporting period, including any gains or return of capital. Period lengths may differ, so compare the dates before comparing amounts. Short periods are not annualized.
NAV change excludes distributions. Reported NAV total return includes reinvestment and is copied from the fund statement, not estimated by adding cash distributions to the NAV change.
Distribution and NAV evidence
Cash paid, opening and closing NAV, and the fund-reported NAV total return are separate observations. NAV change excludes distributions. These figures show outcomes, not which source funded a payment or whether future distributions are sustainable. Net investment income excludes investment gains and is not a payout-coverage ratio.
Fund net investment income per common share; actual reporting period, not annualized$0.5800
$0.00$0.60
For the year ended February 28, 2026, IIM reported $0.58 of net investment income per share and $0.93 of total distributions. Interest earned after fund costs covered part of the cash paid. The remainder needs to be understood through the filing's distribution sources and the change in NAV.
Bond interest, less expenses and financing costs, is the central recurring income source. A declared distribution can include gains or return of capital as well as investment income; its amount is not an earnings figure.
The earnings available to shareholders depend on the cash generated by these activities after operating and financing costs. Portfolio gains, financing proceeds and recurring income should be evaluated separately.
The portfolio information checked September 11, 2026 reports effective leverage of 35.76%.
Financing can increase earning assets, but its cost reduces income available to common shareholders. When borrowing costs rise or portfolio income falls, the distribution can become harder to sustain.
Invesco Value Municipal Income Trust reported $0.5800 per share for 2025-03-01 through 2026-02-28, measured as Fund net investment income per common share; actual reporting period, not annualized.
Actual per-share reporting period, without annualisation. Net investment income, realized gains, unrealized changes and cash distributions are different measures. This comparison is not the Fly High forward Dividend Coverage Ratio.
Losses or weaker cash generation in municipal credit can reduce the resources available for future distributions.
Watch for changes in the underlying exposure and the next reported results before treating the current payment as evidence of continuing earnings support.
A maintained payment can exceed investment results. Review NAV and reported income together rather than treating distribution yield as total return.
Watch for changes in the underlying exposure and the next reported results before treating the current payment as evidence of continuing earnings support.
With the next comparable report, start with net investment income against total distributions. Then see whether borrowing costs, credit results and NAV are moving in a direction that supports the monthly payment.
Net asset value (NAV)
NAV per share$10.87Sep 29, 2026Market price$10.45Sep 29, 2026PREMIUM / DISCOUNT TO NAV3.86% discountCalculated from the displayed same-date values.
NAV is the fund's assets minus liabilities, divided by shares outstanding. All values are USD per share.
CEFConnect current common-share NAV and closing market price, both dated 2026-09-29. The published premium or discount agrees with the calculation within source rounding. Older audited NAV history remains unchanged.
With the next comparable report, start with net investment income against total distributions. Then see whether borrowing costs, credit results and NAV are moving in a direction that supports the monthly payment.
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U.S. federal · Tax year 2025
Dividend tax treatment
The fund's published 2025 breakdown shows mainly federal tax-exempt interest and return of capital. The mix can change from year to year.
This company information is a guide, not your personal tax statement. Use your Form 1099-DIV when you file.
Ordinary, nonqualified
0.18%
Qualified dividends
0%
Capital-gain distributions
0%
Return of capital
37.91%
Federal tax-exempt interest
61.91%
Tax year: 2025. Total distributions: $0.93 per share.
Tax details and source
Total ordinary dividends (includes qualified)
0.18%
Section 199A portion (within ordinary dividends)
0%
Exempt-interest distributions
61.91%
Reporting form
Form 1099-DIV
Source date
Not stated
Qualified dividends are included in total ordinary dividends. Section 199A is a separate designation within ordinary dividends, not extra income or qualified dividend income.
Your account type, holding period and circumstances affect treatment. Use your broker’s tax statement for filing. Return of capital generally reduces cost basis; amounts beyond basis can be taxable. IRS dividend guidance.
