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Data last updated: Sep 06, 2026
Snapshot (as of Sep 06, 2026): Vanguard Tax-Managed Balanced Fund Admiral Shares (VTMFX) pays a $1.13 annual dividend ($0.29 quarterly), yielding 2.19% at $51.58/share. Next ex-dividend date 2026-06-26. Source: Yahoo Finance, aggregated by MerryDiv.
Dividend Yield: 2.19%
Annual Dividend: $1.13 per share
Ex-Dividend Date: 2026-06-26
Dividend Frequency: quarterly
Sector: Financial Services
Years of Dividend History: 33
The Vanguard Tax-Managed Balanced Fund Admiral Shares dividend comes from a fund that splits its portfolio roughly 50/50 between U.S. mid- and large-cap stocks and federal-tax-exempt municipal bonds. VTMFX currently yields 2.19%, with a trailing annual dividend rate of $1.1285 per share paid quarterly. The next ex-dividend date is June 26, 2026. With a beta of 0.82, the fund carries below-market volatility, which suits dividend investors who want income alongside some capital appreciation without full equity-market exposure.
Vanguard Tax-Managed Balanced Fund Admiral Shares pays out dividends as a fund, making the payout ratio not applicable (fund/ETF). Vanguard Tax-Managed Balanced Fund Admiral Shares dividend safety rests on the income generated by its two underlying asset classes: municipal bond interest and equity dividends from mid- and large-cap U.S. stocks. The fund's stated goal of minimizing taxable distributions means the equity portion actively limits dividend income, which can constrain the payout level if bond yields or equity income fall.
Over the past 15 years, Vanguard Tax-Managed Balanced Fund Admiral Shares has grown its dividend at 5.1% per year. Per-share payments rose from $0.50 in 2010 to $1.0522 in 2025 (2026 is a partial year and excluded from the CAGR calculation). The Vanguard Tax-Managed Balanced Fund Admiral Shares dividend history does include at least one year-over-year decline exceeding 5%, so growth has not been linear. The largest single-year jump was 18.8% in 2023, showing the fund can accelerate when underlying income conditions allow.
| 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) |
VTMFX fits dividend investors who prioritize tax efficiency alongside moderate income, particularly those in higher tax brackets drawn to the fund's municipal bond component. The current yield of 2.19% is classified as moderate (2-4%), and it sits meaningfully above the 5-year average of 1.57%, which means today's income level is elevated relative to recent norms. Four consecutive years of dividend increases add a degree of payment momentum, though the history also contains declines, so income is not guaranteed to rise every year. The trade-off is clear: investors get below-market volatility and tax-advantaged income, but the equity portion's design actively suppresses dividend distributions, which limits how high the yield can realistically climb.
| Payment Date | Amount per Share |
|---|---|
| 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 |
| 2024-03-21 | $0.2243 |
| Year | Total Dividends |
|---|---|
| 2026 | $0.5954 |
| 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.