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Invesco Advantage Municipal Income Trust II

AMEX:VKI
Snowflake Description

Second-rate dividend payer with mediocre balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
VKI
AMEX
$470M
Market Cap
  1. Home
  2. US
  3. Diversified Financials
Company description

Invesco Advantage Municipal Income Trust II is a closed-ended fixed income mutual fund launched by Invesco Ltd. The last earnings update was 130 days ago. More info.


Add to Portfolio Compare Print
  • Invesco Advantage Municipal Income Trust II is a fund or ETF! Currently our data availability for these is poor, we only recommend using them as part of a portfolio.
VKI Share Price and Events
7 Day Returns
-1.6%
AMEX:VKI
2.6%
US Capital Markets
2.4%
US Market
1 Year Returns
-0.1%
AMEX:VKI
-12.6%
US Capital Markets
1.9%
US Market
VKI Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Invesco Advantage Municipal Income Trust II (VKI) -1.6% -0.6% 7.2% -0.1% -14.8% -3.6%
US Capital Markets 2.6% -0% 10.2% -12.6% 54.7% 55.6%
US Market 2.4% 1.7% 11.9% 1.9% 38.2% 42.4%
1 Year Return vs Industry and Market
  • VKI outperformed the Capital Markets industry which returned -12.6% over the past year.
  • VKI underperformed the Market in United States of America which returned 1.9% over the past year.

VKI Value

 Is Invesco Advantage Municipal Income Trust II undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Invesco Advantage Municipal Income Trust II to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data    Our intrinsic value calculation method has changed recently, learn more here.

Below are the data sources, inputs and calculation used to determine the intrinsic value for Invesco Advantage Municipal Income Trust II.

AMEX:VKI Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= $12.30 * 3.6%
$0.44
Book Value of Equity per Share Median Book Value from the past 5 years. $12.30
Discount Rate (Cost of Equity) See below 9.4%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for AMEX:VKI
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Capital Markets Unlevered Beta Simply Wall St/ S&P Global 0.73
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.726 (1 + (1- 21%) (78.09%))
1.116
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.12
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.116 * 5.96%)
9.38%

Discounted Cash Flow Calculation for AMEX:VKI using Excess Returns Model Model

The calculations below outline how an intrinsic value for Invesco Advantage Municipal Income Trust II is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

AMEX:VKI Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (3.6% – 9.38%) * $12.30)
$-0.72
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $-0.72 / (9.38% - 2.73%)
$-10.78
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $12.30 + $-10.78
$1.52
AMEX:VKI Discount to Share Price
Calculation Result
Value per share (USD) From above. $1.52
Current discount Discount to share price of $10.58
= -1 x ($10.58 - $1.52) / $1.52
-597.2%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Invesco Advantage Municipal Income Trust II is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Invesco Advantage Municipal Income Trust II's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Invesco Advantage Municipal Income Trust II's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
AMEX:VKI PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-08-31) in USD $0.03
AMEX:VKI Share Price ** AMEX (2019-03-18) in USD $10.58
United States of America Capital Markets Industry PE Ratio Median Figure of 76 Publicly-Listed Capital Markets Companies 24.89x
United States of America Market PE Ratio Median Figure of 3,055 Publicly-Listed Companies 17.61x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Invesco Advantage Municipal Income Trust II.

AMEX:VKI PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= AMEX:VKI Share Price ÷ EPS (both in USD)

= 10.58 ÷ 0.03

312.8x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Invesco Advantage Municipal Income Trust II is overvalued based on earnings compared to the US Capital Markets industry average.
  • Invesco Advantage Municipal Income Trust II is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does Invesco Advantage Municipal Income Trust II's expected growth come at a high price?
Raw Data
AMEX:VKI PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 312.8x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
United States of America Capital Markets Industry PEG Ratio Median Figure of 33 Publicly-Listed Capital Markets Companies 2.2x
United States of America Market PEG Ratio Median Figure of 2,109 Publicly-Listed Companies 1.48x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Invesco Advantage Municipal Income Trust II, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Invesco Advantage Municipal Income Trust II's assets?
Raw Data
AMEX:VKI PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-08-31) in USD $11.69
AMEX:VKI Share Price * AMEX (2019-03-18) in USD $10.58
United States of America Capital Markets Industry PB Ratio Median Figure of 149 Publicly-Listed Capital Markets Companies 4.76x
United States of America Market PB Ratio Median Figure of 5,152 Publicly-Listed Companies 1.87x
AMEX:VKI PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= AMEX:VKI Share Price ÷ Book Value per Share (both in USD)

= 10.58 ÷ 11.69

0.9x

* Primary Listing of Invesco Advantage Municipal Income Trust II.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Invesco Advantage Municipal Income Trust II is good value based on assets compared to the US Capital Markets industry average.
X
Value checks
We assess Invesco Advantage Municipal Income Trust II's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Capital Markets industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Capital Markets industry average (and greater than 0)? (1 check)
  5. Invesco Advantage Municipal Income Trust II has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

VKI Future Performance

 How is Invesco Advantage Municipal Income Trust II expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Invesco Advantage Municipal Income Trust II has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
6.4%
Expected Capital Markets industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Invesco Advantage Municipal Income Trust II expected to grow at an attractive rate?
  • Unable to compare Invesco Advantage Municipal Income Trust II's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Invesco Advantage Municipal Income Trust II's earnings growth to the United States of America market average as no estimate data is available.
  • Unable to compare Invesco Advantage Municipal Income Trust II's revenue growth to the United States of America market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
AMEX:VKI Future Growth Rates Data Sources
Data Point Source Value (per year)
United States of America Capital Markets Industry Earnings Growth Rate Market Cap Weighted Average 6.4%
United States of America Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 3.8%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14.3%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
AMEX:VKI Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
AMEX:VKI Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
AMEX:VKI Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-08-31 40 34 2
2018-05-31 41 44 10
2018-02-28 41 54 19
2017-11-30 42 58 8
2017-08-31 42 62 -3
2017-05-31 42 41 0
2017-02-28 43 20 2
2016-11-30 43 19 32
2016-08-31 43 17 62
2016-05-31 43 24 47
2016-02-29 43 31 31
2015-11-30 43 28 28

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Invesco Advantage Municipal Income Trust II is high growth as no earnings estimate data is available.
  • Unable to determine if Invesco Advantage Municipal Income Trust II is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
AMEX:VKI Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Invesco Advantage Municipal Income Trust II Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

AMEX:VKI Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
AMEX:VKI Past Financials Data
Date (Data in USD Millions) EPS *
2018-08-31 0.03
2018-05-31 0.24
2018-02-28 0.44
2017-11-30 0.19
2017-08-31 -0.06
2017-05-31 -0.01
2017-02-28 0.05
2016-11-30 0.73
2016-08-31 1.41
2016-05-31 1.05
2016-02-29 0.70
2015-11-30 0.63

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Invesco Advantage Municipal Income Trust II will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Invesco Advantage Municipal Income Trust II's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Invesco Advantage Municipal Income Trust II has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

VKI Past Performance

  How has Invesco Advantage Municipal Income Trust II performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Invesco Advantage Municipal Income Trust II's growth in the last year to its industry (Capital Markets).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Invesco Advantage Municipal Income Trust II's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • Invesco Advantage Municipal Income Trust II has become profitable in the last year making the earnings growth rate difficult to compare to the 5-year average.
  • Invesco Advantage Municipal Income Trust II has become profitable in the last year making it difficult to compare the US Capital Markets industry average.
Earnings and Revenue History
Invesco Advantage Municipal Income Trust II's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Invesco Advantage Municipal Income Trust II Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

AMEX:VKI Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-08-31 40.32 1.50 5.43
2018-05-31 40.86 10.45 5.49
2018-02-28 41.39 19.39 5.56
2017-11-30 41.54 8.29 5.56
2017-08-31 41.68 -2.80 5.56
2017-05-31 42.10 -0.37 5.56
2017-02-28 42.51 2.05 5.55
2016-11-30 42.59 32.27 5.62
2016-08-31 42.67 62.48 5.69
2016-05-31 42.91 46.82 5.70
2016-02-29 43.14 31.17 5.72
2015-11-30 43.32 28.18 5.72
2015-08-31 43.49 25.19 5.72
2015-05-31 43.15 46.53 5.68
2015-02-28 42.81 67.86 5.65
2014-11-30 42.65 82.58 5.65
2014-08-31 42.49 97.31 5.65
2014-05-31 42.19 42.75 5.66
2014-02-28 41.89 -11.81 5.67
2013-11-30 41.93 -28.68 5.73
2013-08-31 41.97 -45.55 5.80
2013-05-31 42.43 3.78 5.89
2013-02-28 42.89 53.11 5.99
2012-11-30 43.60 71.09 6.01
2012-08-31 44.31 89.06 6.03
2012-05-31 44.73 100.42 6.03

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Invesco Advantage Municipal Income Trust II has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Invesco Advantage Municipal Income Trust II used its assets less efficiently than the US Capital Markets industry average last year based on Return on Assets.
  • Invesco Advantage Municipal Income Trust II's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Invesco Advantage Municipal Income Trust II's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Capital Markets industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Invesco Advantage Municipal Income Trust II has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

VKI Health

 How is Invesco Advantage Municipal Income Trust II's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Invesco Advantage Municipal Income Trust II's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Invesco Advantage Municipal Income Trust II is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Invesco Advantage Municipal Income Trust II's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Invesco Advantage Municipal Income Trust II's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is not covered by short term assets, assets are 0x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Invesco Advantage Municipal Income Trust II Company Filings, last reported 6 months ago.

AMEX:VKI Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-08-31 519.13 366.77 0.04
2018-05-31 519.13 366.77 0.04
2018-02-28 524.07 375.34
2017-11-30 524.07 375.34
2017-08-31 545.96 372.32
2017-05-31 545.96 372.32
2017-02-28 533.81 400.60
2016-11-30 533.81 400.60
2016-08-31 577.91 405.38
2016-05-31 577.91 405.38
2016-02-29 563.50 389.37
2015-11-30 563.50 389.37
2015-08-31 549.90 387.99
2015-05-31 549.90 387.99
2015-02-28 566.95 386.19
2014-11-30 566.95 386.19
2014-08-31 559.33 378.40
2014-05-31 559.33 378.40
2014-02-28 533.37 375.10
2013-11-30 533.37 375.10
2013-08-31 495.65 379.13
2013-05-31 495.65 379.13
2013-02-28 579.98 381.60
2012-11-30 579.98 381.60
2012-08-31 578.17 379.81
2012-05-31 578.17 379.81
  • Invesco Advantage Municipal Income Trust II's level of debt (70.7%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (76.4% vs 70.7% today).
  • Debt is not well covered by operating cash flow (9.2%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 4.5x coverage).
X
Financial health checks
We assess Invesco Advantage Municipal Income Trust II's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Invesco Advantage Municipal Income Trust II has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

VKI Dividends

 What is Invesco Advantage Municipal Income Trust II's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
5.1%
Current annual income from Invesco Advantage Municipal Income Trust II dividends.
If you bought $2,000 of Invesco Advantage Municipal Income Trust II shares you are expected to receive $102 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Invesco Advantage Municipal Income Trust II's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.45%).
  • Invesco Advantage Municipal Income Trust II's dividend is above the markets top 25% of dividend payers in United States of America (3.64%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
AMEX:VKI Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
United States of America Capital Markets Industry Average Dividend Yield Market Cap Weighted Average of 43 Stocks 2.1%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2004 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

AMEX:VKI Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
AMEX:VKI Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-03-01 0.540 5.061
2019-02-01 0.592 5.571
2019-01-02 0.592 5.699
2018-12-03 0.592 5.902
2018-11-01 0.592 5.913
2018-10-01 0.592 5.881
2018-09-04 0.592 5.597
2018-08-01 0.620 5.774
2018-07-02 0.620 5.810
2018-06-01 0.620 5.829
2018-05-01 0.620 5.865
2018-04-02 0.620 5.875
2018-03-01 0.620 5.803
2018-02-01 0.656 6.026
2018-01-02 0.656 5.857
2017-12-01 0.656 5.779
2017-11-01 0.656 5.800
2017-10-02 0.656 5.741
2017-09-01 0.656 5.626
2017-08-01 0.656 5.601
2017-07-03 0.656 5.637
2017-06-01 0.656 5.667
2017-05-01 0.656 5.754
2017-04-03 0.656 5.808
2017-02-01 0.656 5.893
2017-01-03 0.656 5.810
2016-12-01 0.656 5.971
2016-11-01 0.656 5.893
2016-10-03 0.656 5.527
2016-09-01 0.656 5.267
2016-08-01 0.780 5.877
2016-06-01 0.780 5.958
2016-05-02 0.780 6.114
2016-04-01 0.780 6.149
2016-03-01 0.780 6.341
2016-02-01 0.780 6.414
2016-01-04 0.780 6.542
2015-12-01 0.780 6.751
2015-11-02 0.780 6.843
2015-10-01 0.780 6.854
2015-09-01 0.780 6.990
2015-08-03 0.780 7.017
2015-07-01 0.780 7.058
2015-06-01 0.780 7.070
2015-05-01 0.780 6.856
2015-04-01 0.780 6.674
2015-03-02 0.780 6.702
2015-02-02 0.780 6.598
2015-01-02 0.780 6.577
2014-12-01 0.780 6.764
2014-11-03 0.780 6.793
2014-10-01 0.780 6.751
2014-09-02 0.780 6.945
2014-08-01 0.780 6.927
2014-07-01 0.780 6.945
2014-06-02 0.780 6.857
2014-05-01 0.750 6.595
2014-04-01 0.750 6.805
2014-03-03 0.750 6.838
2014-02-03 0.750 6.853
2014-01-02 0.750 6.957
2013-12-02 0.750 7.267
2013-11-01 0.750 7.273
2013-10-01 0.750 7.172
2013-09-03 0.750 7.182
2013-08-01 0.750 7.227
2013-07-01 0.750 6.861
2013-06-03 0.852 7.214
2013-05-01 0.852 6.686
2013-04-01 0.852 6.607
2013-03-01 0.852 6.650
2013-02-01 0.852 6.369
2013-01-02 0.852 6.277
2012-12-03 0.852 6.391
2012-11-01 0.876 6.456
2012-10-01 0.876 6.324
2012-09-04 0.876 6.372
2012-08-01 0.876 6.457
2012-07-02 0.876 6.523
2012-06-01 0.876 6.666
2012-05-01 0.876 6.616
2012-04-02 0.876 6.714
2012-02-01 0.876 6.742
2012-01-03 0.876 6.861
2011-12-01 0.876 7.051
2011-11-01 0.876 7.155
2011-09-30 0.876 7.338
2011-09-01 0.876 7.304
2011-08-01 0.876 7.574
2011-07-01 0.876 7.549
2011-06-01 0.876 7.519
2011-05-02 0.876 7.676
2011-04-01 0.876 7.837
2011-03-01 0.876 7.843
2011-02-01 0.876 7.896
2011-01-03 0.876 8.038
2010-12-01 0.876 7.772
2010-11-01 0.876 7.243
2010-10-01 0.876 6.976
2010-09-01 0.876 6.884
2010-08-02 0.876 6.867
2010-07-01 0.876 7.086
2010-06-01 0.876 7.273
2010-05-03 0.876 7.266
2010-04-01 0.876 7.288
2010-03-01 0.876 7.299
2010-01-04 0.876 7.471
2009-12-01 0.876 7.721
2009-11-02 0.840 7.532
2009-10-01 0.840 7.257
2009-09-01 0.840 7.133
2009-07-27 0.840 7.760
2009-07-01 0.744 7.400
2009-06-01 0.744 7.485
2009-05-01 0.744 7.442
2009-04-01 0.744 7.822
2009-03-19 0.744 7.960

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of Invesco Advantage Municipal Income Trust II's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.1x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Invesco Advantage Municipal Income Trust II's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Invesco Advantage Municipal Income Trust II afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Invesco Advantage Municipal Income Trust II has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

VKI Management

 What is the CEO of Invesco Advantage Municipal Income Trust II's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Colin Meadows
COMPENSATION $0
AGE 47
CEO Bio

Mr. Colin D. Meadows, J.D. has been Senior Managing Director of Invesco Ltd. since 2006 and serves as its Head of Private Markets and Global Institutional. He was Chief Administrative Officer of Invesco Ltd. since May 2006 until November 20, 2018. Mr. Meadows is responsible for business strategy, human resources, communications, facilities and internal audit. He serves as Chief Executive Officer and President at Invesco Trust for Investment Grade Municipals He serves as Principal Executive Officer and President at Invesco Senior Loan Fund, Invesco California Value Municipal Income Trust, Invesco Advantage Municipal Income Trust II, Invesco High Income Trust II, Invesco Dynamic Credit Opportunities Fund, Invesco Municipal Trust, Invesco Bond Fund, Invesco Van Kampen Trust for Value Municipals, Invesco Municipal Opportunity Trust, Invesco Pennsylvania Value Municipal Income Trust and Invesco Senior Income Trust. He served as Principal Executive Officer and President at Invesco Exchange Fund, Invesco Van Kampen Trust and Invesco Van Kampen Select Sector Municipal Trust for Investment Grade New Jersey Municipals. He served as Chief Executive Officer and President at Invesco Van Kampen Ohio Quality Municipal Trust. He served as Chief Administrative Officer at Invesco Bond Fund. He served as Manaing General Partner at Invesco Exchange Fund from 2010 to August 29, 2014. Previously, he joined Invesco from GE Consumer Finance where Mr. Meadows served as a Senior Vice President of business development and mergers & acquisitions. Mr. Meadows also served as Senior Vice President of Strategic Planning and Technology at Wells Fargo Bank. He served as an Associate Principal at McKinsey & Company from 1996 to 2003, focusing on the financial services and venture capital industries, with an emphasis in the banking and asset management sectors. He served as Chief Executive Officer, President of Invesco Funds in the Funds Complex. Mr. Meadows was the Chairman of the Board of CIBC National Trust Company and is its Director. He has been Director at Invesco Mortgage Capital Inc. since August 18, 2017. He serves as a Director of Invesco Advisers, Inc. Mr. Meadows also serves as a Director of Boys & Girls Clubs of Metro Atlanta, Inc. He has been Interested Trustee at Invesco High Income Trust II since June 01, 2010. He served as Interested Trustee of Invesco Dynamic Credit Opportunities Fund, Invesco Municipal Trust, Invesco Municipal Opportunity Trust, Invesco Van Kampen Trust for Value Municipals, Invesco Pennsylvania Value Municipal Income Trust, Invesco Advantage Municipal Income Trust II, Invesco Bond Fund and Invesco Senior Income Trust from June 01, 2010 to August 29, 2014. He served as Trustee of Invesco Trust for Investment Grade Municipals from 2010 to August 29, 2014. He served as Interested Trustee at Invesco Trust for Investment Grade New York Municipals from 2010 to September 2014. He served as Trustee of Invesco Van Kampen Trust for Investment Grade New Jersey Municipals, Invesco Van Kampen Ohio Quality Municipal Trust and Invesco Van Kampen Select Sector Municipal Trust since June 01, 2010. He served as Trustee of Invesco California Value Municipal Income Trust until August 29, 2014. He served as Independent Trustee at Invesco Senior Loan Fund from 2010 to August 29, 2014. He served as Trustee of Invesco Funds in the Funds Complex. He received B.A., Cum Laude, in Economics and English literature from Andrews University and a J.D. from Harvard Law School.

CEO Compensation
  • Insufficient data for Colin to compare compensation growth.
  • Insufficient data for Colin to establish whether their remuneration is reasonable compared to companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Invesco Advantage Municipal Income Trust II management team in years:

4.2
Average Tenure
52
Average Age
  • The tenure for the Invesco Advantage Municipal Income Trust II management team is about average.
Management Team

Colin Meadows

TITLE
Principal Executive Officer and President
AGE
47

Sheri Morris

TITLE
Principal Financial Officer
AGE
54

Valinda Arnett-Patton

TITLE
Chief Compliance Officer
AGE
59

Jeffrey Kupor

TITLE
Senior Vice President
AGE
50

John Zerr

TITLE
Chief Legal Officer
AGE
56

Crissie Wisdom

TITLE
Anti-Money Laundering Compliance Officer
AGE
49

John Schorle

TITLE
Portfolio Manager

Mark Paris

TITLE
Portfolio Manager
TENURE
4.2 yrs

Robert Stryker

TITLE
Portfolio Manager
TENURE
14.2 yrs

James Phillips

TITLE
Portfolio Manager
TENURE
4.2 yrs
Board of Directors Tenure

Average tenure and age of the Invesco Advantage Municipal Income Trust II board of directors in years:

25.2
Average Tenure
77
Average Age
  • The average tenure for the Invesco Advantage Municipal Income Trust II board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Wayne Whalen

TITLE
Chairman
COMPENSATION
$6K
AGE
79

Sue Woolsey

TITLE
Independent Trustee
COMPENSATION
$6K
AGE
77
TENURE
16.2 yrs

Hugo Sonnenschein

TITLE
Independent Trustee
COMPENSATION
$6K
AGE
78
TENURE
25.2 yrs

David Arch

TITLE
Independent Trustee
COMPENSATION
$6K
AGE
73
TENURE
30.2 yrs

Rod Dammeyer

TITLE
Independent Trustee
COMPENSATION
$7K
AGE
78

Frank Bayley

TITLE
Trustee Nominee
AGE
79

Jim Bunch

TITLE
Trustee Nominee
AGE
76

Bruce Crockett

TITLE
Trustee Nominee
AGE
74

Albert Dowden

TITLE
Trustee Nominee
AGE
77

Jack Fields

TITLE
Trustee Nominee
AGE
66
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
X
Management checks
We assess Invesco Advantage Municipal Income Trust II's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Invesco Advantage Municipal Income Trust II has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

VKI News

Simply Wall St News

VKI Company Info

Description

Invesco Advantage Municipal Income Trust II is a closed-ended fixed income mutual fund launched by Invesco Ltd. The fund is co-managed by Invesco Advisers, Inc, INVESCO Asset Management (Japan) Limited, INVESCO Asset Management Deutschland GmbH, INVESCO Asset Management Limited, Invesco Canada Ltd., Invesco Hong Kong Limited, and INVESCO Senior Secured Management, Inc. It invests in the fixed income markets of the United States. The fund primarily invests in investment grade municipal securities which include municipal bonds, municipal notes, municipal commercial paper, and lease obligations. It employs fundamental analysis with a bottom-up security selection approach to create its portfolio. The fund was formerly known as Invesco Van Kampen Advantage Municipal Income Trust II. Invesco Advantage Municipal Income Trust II was formed on August 27, 1993 and is domiciled in the United States.

Details
Name: Invesco Advantage Municipal Income Trust II
VKI
Exchange: AMEX
Founded: 1993
$469,662,609
44,391,551
Website: http://www.invesco.com/portal/site/us/investors/closed-end/product-detail?productId=30431
Address: Invesco Advantage Municipal Income Trust II
Two Peachtree Pointe,
1555 Peachtree Street North East,
Atlanta,
Georgia, 30309,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
AMEX VKI Common Shares NYSE MKT LLC US USD 14. Oct 1993
Number of employees
Current staff
Staff numbers
0
Invesco Advantage Municipal Income Trust II employees.
Industry
Asset Management and Custody Banks
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/03/18 23:48
End of day share price update: 2019/03/18 00:00
Last estimates confirmation: 2017/05/08
Last earnings filing: 2018/11/08
Last earnings reported: 2018/08/31
Last annual earnings reported: 2018/02/28


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.