Eaton Vance Municipal (NYSE:ETX) announced a monthly dividend on Tuesday, April 3rd, Wall Street Journal reports. Investors of record on Monday, April 23rd will be paid a dividend of 0.0709 per share by the investment management company on Monday, April 30th. This represents a $0.85 annualized dividend and a dividend yield of 4.51%. The ex-dividend date of this dividend is Friday, April 20th.
Eaton Vance Municipal has a dividend payout ratio of -1,214.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.
Shares of NYSE ETX opened at $18.88 on Friday. Eaton Vance Municipal has a 12-month low of $18.81 and a 12-month high of $21.20.
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Eaton Vance Municipal Company Profile
Eaton Vance Municipal Income 2028 Term Trust (the Trust) is a diversified, closed-end management investment company. The Trust’s investment objective is to provide current income exempt from regular federal income tax. The Trust seeks to achieve its investment objective by investing primarily in municipal obligations, a portion of which will be investment grade and a portion of which may be below investment grade at the time of investment.
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