BNY Mellon Municipal Income, Inc. (NYSE:DMF) to Issue Monthly Dividend of $0.02

BNY Mellon Municipal Income, Inc. (NYSE:DMF) declared a monthly dividend on Thursday, May 9th, Wall Street Journal reports. Stockholders of record on Friday, June 14th will be paid a dividend of 0.019 per share on Friday, June 28th. This represents a $0.23 annualized dividend and a dividend yield of 3.32%. The ex-dividend date of this dividend is Friday, June 14th. This is an increase from BNY Mellon Municipal Income’s previous monthly dividend of $0.02.

BNY Mellon Municipal Income has decreased its dividend payment by an average of 18.1% annually over the last three years.

BNY Mellon Municipal Income Stock Performance

BNY Mellon Municipal Income stock traded up $0.02 during mid-day trading on Thursday, hitting $6.87. The company’s stock had a trading volume of 38,036 shares, compared to its average volume of 53,947. BNY Mellon Municipal Income has a one year low of $5.37 and a one year high of $6.87. The company has a 50 day moving average of $6.69 and a 200-day moving average of $6.45.

Insider Buying and Selling

In related news, major shareholder Saba Capital Management, L.P. purchased 20,410 shares of BNY Mellon Municipal Income stock in a transaction dated Tuesday, March 19th. The stock was acquired at an average cost of $6.75 per share, with a total value of $137,767.50. Following the completion of the transaction, the insider now directly owns 2,377,018 shares of the company’s stock, valued at $16,044,871.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.00% of the stock is currently owned by corporate insiders.

BNY Mellon Municipal Income Company Profile

BNY Mellon Municipal Income, Inc is a closed ended fixed income mutual fund launched and managed by BNY Mellon Investment Adviser, Inc It invests in the fixed income markets of the United States. The fund primarily invests in municipal obligations that are rated investment grade and have maturities of less than one year.