Basis: Latest reported fiscal year. Source: stored company filings and market data; unavailable inputs remain N/A.
The yield on cost (YOC) is 4.50%.
YIELD ON COST (YOC)
4.50%
BMN now pays $1.13 per share a year. Measured against the price it actually traded at back then, a long-term holder is earning:
| If you bought | Price then | Yield on cost today |
|---|---|---|
| 3 years ago(2023-07-24) | $24.78 | 4.56% |
| 1 year ago(2025-07-24) | $24.65 | 4.58% |
| Buying today(at $25.00) | $25.00 | 4.50% |
Try your own purchase price, dividend and growth rate for Blackrock 2037 Municipal Target Term Trust (BMN).
Starting Yield
4.52%
Ending YOC
14.34%
Year 15 Dividend
$3.58
Cum. Dividends Recd.
$33.14
| Year | Projected Div. / Share | YoY Dividend Hike | Yield on Cost (YOC) | Total Dividends Recd. |
|---|---|---|---|---|
| Initial | $1.13 | N/A | 4.52% | $0.00 |
| Year 1 | $1.22 | +8.00% | 4.88% | $1.22 |
| Year 2 | $1.32 | +8.00% | 5.27% | $2.54 |
| Year 3 | $1.42 | +8.00% | 5.69% | $3.96 |
| Year 4 | $1.54 | +8.00% | 6.15% | $5.50 |
| Year 5 | $1.66 | +8.00% | 6.64% | $7.16 |
| Year 6 | $1.79 | +8.00% | 7.17% | $8.95 |
| Year 7 | $1.94 | +8.00% | 7.75% | $10.89 |
| Year 8 | $2.09 | +8.00% | 8.37% | $12.98 |
| Year 9 | $2.26 | +8.00% | 9.04% | $15.24 |
| Year 10 | $2.44 | +8.00% | 9.76% | $17.68 |
| Year 11 | $2.63 | +8.00% | 10.54% | $20.31 |
| Year 12 | $2.85 | +8.00% | 11.38% | $23.16 |
| Year 13 | $3.07 | +8.00% | 12.29% | $26.23 |
| Year 14 | $3.32 | +8.00% | 13.28% | $29.55 |
| Year 15 | $3.58 | +8.00% | 14.34% | $33.14 |
Yield on cost is the dividend yield measured against your original purchase price, not today's price. As a company raises its dividend, the yield on what you actually paid keeps rising even when the market yield holds steady.
Expanded definitions: Investopedia, Wikipedia, Corporate Finance Institute
