Reaves Utility Income Fund (NYSEAMERICAN:UTG – Get Free Report) announced a monthly dividend on Wednesday, December 18th,Wall Street Journal reports. Investors of record on Tuesday, March 18th will be paid a dividend of 0.19 per share by the closed-end fund on Monday, March 31st. This represents a $2.28 dividend on an annualized basis and a yield of 7.17%. The ex-dividend date of this dividend is Tuesday, March 18th.
Reaves Utility Income Fund has raised its dividend payment by an average of 1.8% annually over the last three years.
Reaves Utility Income Fund Trading Down 1.9 %
NYSEAMERICAN:UTG opened at $31.80 on Wednesday. The business’s 50-day moving average price is $30.18. Reaves Utility Income Fund has a 1-year low of $25.26 and a 1-year high of $35.29.
About Reaves Utility Income Fund
Reaves Utility Income Fund is a closed ended balanced mutual fund launched and managed by W. H. Reaves & Company, Inc The fund invests in public equity and fixed income markets of the United States. It seeks to invest in securities of companies operating in the Utilities sector. The fund primarily invests in dividend paying stocks and debt instruments of companies operating across all market capitalizations.
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