Basis: Trailing twelve months (TTM). Source: stored company filings and market data; unavailable inputs remain N/A.
The yield on cost (YOC) is 8.61%.
YIELD ON COST (YOC)
8.61%
VCV now pays $0.78 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 |
|---|---|---|
| 10 years ago(2016-09-29) | $13.82 | 5.64% |
| 5 years ago(2021-09-27) | $13.80 | 5.65% |
| 3 years ago(2023-09-28) | $8.44 | 9.24% |
| 1 year ago(2025-10-02) | $10.53 | 7.41% |
| Buying today(at $8.97) | $8.97 | 8.61% |
Projection: starting from today's 8.61% yield, assuming the dividend keeps compounding at 8.0% a year — the recent growth rate of its annual payout. Boards set dividends each year, so actual figures will differ.
Today
8.61%
In 3 years
10.86%
In 5 years
12.67%
In 10 years
18.66%
Try your own purchase price, dividend and growth rate for Invesco California Value Municipal Income Trust (VCV).
Starting Yield
8.70%
Ending YOC
25.95%
Year 15 Dividend
$2.33
Cum. Dividends Recd.
$22.01
| Year | Projected Div. / Share | YoY Dividend Hike | Yield on Cost (YOC) | Total Dividends Recd. |
|---|---|---|---|---|
| Initial | $0.78 | N/A | 8.70% | $0.00 |
| Year 1 | $0.84 | +7.56% | 9.35% | $0.84 |
| Year 2 | $0.90 | +7.56% | 10.06% | $1.74 |
| Year 3 | $0.97 | +7.56% | 10.82% | $2.71 |
| Year 4 | $1.04 | +7.56% | 11.64% | $3.76 |
| Year 5 | $1.12 | +7.56% | 12.52% | $4.88 |
| Year 6 | $1.21 | +7.56% | 13.47% | $6.09 |
| Year 7 | $1.30 | +7.56% | 14.48% | $7.39 |
| Year 8 | $1.40 | +7.56% | 15.58% | $8.78 |
| Year 9 | $1.50 | +7.56% | 16.76% | $10.29 |
| Year 10 | $1.62 | +7.56% | 18.02% | $11.90 |
| Year 11 | $1.74 | +7.56% | 19.38% | $13.64 |
| Year 12 | $1.87 | +7.56% | 20.85% | $15.51 |
| Year 13 | $2.01 | +7.56% | 22.43% | $17.52 |
| Year 14 | $2.16 | +7.56% | 24.12% | $19.69 |
| Year 15 | $2.33 | +7.56% | 25.95% | $22.01 |
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
