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Data last updated: Oct 19, 2026
Snapshot (as of Oct 19, 2026): Vanguard Tax-Managed Balanced Adm (VTMFX) pays a $1.18 annual dividend ($0.29 quarterly), yielding 2.85% at $50.72/share. Source: Yahoo Finance, aggregated by MerryDiv.
Dividend Yield: 2.85%
Annual Dividend: $1.18 per share
Dividend Frequency: quarterly
Years of Dividend History: 33
The Vanguard Tax-Managed Balanced Adm dividend comes from a fund that splits its assets between municipal bonds and equities, with at least 75% of its fixed income holdings in top-tier rated munis (Aaa, Aa, or A by Moody's). The fund currently yields 2.88%, paying $1.1770 per share on a quarterly basis. VTMFX has 33 years of dividend history, making it a long-running option for income investors who want exposure to tax-advantaged fixed income alongside equities.
Vanguard Tax-Managed Balanced Adm dividend safety depends on the distributions generated by the fund's underlying holdings: high-grade municipal bonds and equity securities, not a corporate earnings stream. Payout ratio is not applicable (fund/ETF). The history table does show at least one year-over-year decline exceeding 5%, which means the dividend level is not immune to pressure when bond yields or equity distributions shift.
Over the past 15 years, Vanguard Tax-Managed Balanced Adm has grown its dividend at 5.1% per year. Per-share payments rose from $0.5000 in 2010 to $1.0522 in 2025 (2026 is a partial year and excluded from this calculation). The largest single-year jump in the window was 18.8% in 2023, and VTMFX has now posted four consecutive years of dividend increases.
| Period | CAGR | From | To |
|---|---|---|---|
| 3-Year | +16.1% | $0.67 (2022) | $1.05 (2025) |
| 5-Year | +9.9% | $0.66 (2020) | $1.05 (2025) |
| 10-Year | +6.5% | $0.56 (2015) | $1.05 (2025) |
Vanguard Tax-Managed Balanced Adm suits dividend investors who want a blend of municipal bond income and equity distributions in a single fund. The yield sits in the moderate (2-4%) range at 2.88%, which is not a high-income figure but reflects the fund's emphasis on investment-grade munis rather than higher-risk assets. Four consecutive years of increases and a 5.1% CAGR over 15 years show a fund that has grown its payout meaningfully over time. The trade-off is that the dividend has declined in past years, so income is not fixed, and the yield alone does not place VTMFX among top-tier income funds.
| Payment Date | Amount per Share |
|---|---|
| 2026-09-28 | $0.5820 |
| 2026-06-26 | $0.2932 |
| 2026-03-27 | $0.3022 |
| 2025-12-23 | $0.2686 |
| 2025-09-29 | $0.2645 |
| 2025-06-30 | $0.2561 |
| 2025-03-27 | $0.2630 |
| 2024-12-30 | $0.2424 |
| 2024-09-26 | $0.2420 |
| 2024-06-27 | $0.2339 |
| Year | Total Dividends |
|---|---|
| 2026 | $1.1774 |
| 2025 | $1.0522 |
| 2024 | $0.9426 |
| 2023 | $0.7984 |
| 2022 | $0.6723 |
Project income from VTMFX with the VTMFX dividend calculator or track your full portfolio with the dividend tracker.