Reaves Utility Income Fund (NYSEAMERICAN:UTG) announced a monthly dividend on Thursday, December 20th, Wall Street Journal reports. Investors of record on Wednesday, March 20th will be given a dividend of 0.17 per share by the closed-end fund on Friday, March 29th. This represents a $2.04 dividend on an annualized basis and a yield of 6.19%. The ex-dividend date is Tuesday, March 19th.
Reaves Utility Income Fund has raised its dividend payment by an average of 3.5% per year over the last three years.
NYSEAMERICAN UTG opened at $32.94 on Thursday. Reaves Utility Income Fund has a 12 month low of $26.96 and a 12 month high of $33.00.
In related news, insider Ronald James Sorenson acquired 1,000 shares of Reaves Utility Income Fund stock in a transaction on Monday, December 31st. The shares were purchased at an average cost of $29.46 per share, for a total transaction of $29,460.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders have acquired a total of 1,325 shares of company stock worth $39,074 over the last quarter.
Reaves Utility Income Fund Company Profile
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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