Looking at the universe of stocks we cover at Dividend Channel, on 9/6/13, Eaton Vance Michigan Municipal Income Trust (EMI) will trade ex-dividend, for its monthly dividend of $0.0624, payable on 9/17/13. As a percentage of EMI's recent stock price of $10.92, this dividend works out to approximately 0.57%, so look for shares of Eaton Vance Michigan Municipal Income Trust to trade 0.57% lower — all else being equal — when EMI shares open for trading on 9/6/13.
Below is a dividend history chart for EMI, showing historical dividends prior to the most recent $0.0624 declared by Eaton Vance Michigan Municipal Income Trust:
In general, dividends are not always predictable; but looking at the history above can help in judging whether the most recent dividend from EMI is likely to continue, and whether the current estimated yield of 6.86% on annualized basis is a reasonable expectation of annual yield going forward. The chart below shows the one year performance of EMI shares, versus its 200 day moving average:Looking at the chart above, EMI's low point in its 52 week range is $10.72 per share, with $14.87 as the 52 week high point — that compares with a last trade of $10.92.
In Wednesday trading, Eaton Vance Michigan Municipal Income Trust shares are currently trading flat on the day.