Reaves Utility Income Fund (NYSEAMERICAN:UTG – Get Free Report) declared a monthly dividend on Tuesday, June 23rd. Investors of record on Friday, July 17th will be paid a dividend of 0.21 per share by the closed-end fund on Friday, July 31st. This represents a c) dividend on an annualized basis and a dividend yield of 5.9%. The ex-dividend date is Friday, July 17th. This is a 5.0% increase from Reaves Utility Income Fund’s previous monthly dividend of $0.20.
Reaves Utility Income Fund Price Performance
Shares of NYSEAMERICAN UTG opened at $42.46 on Wednesday. The stock’s 50-day moving average is $41.99 and its 200 day moving average is $39.86. Reaves Utility Income Fund has a 1-year low of $35.28 and a 1-year high of $43.90.
Reaves Utility Income Fund Company Profile
Reaves Utility Income Fund (NYSE American: UTG) is a closed-end management investment company organized as a Delaware statutory trust. Since commencing operations in 1994, the fund’s primary objective has been to provide its shareholders with a high level of current income and the potential for capital appreciation. It does so by investing in a diversified portfolio of income-producing securities within the utilities sector.
The fund typically allocates its assets across common stocks, preferred stocks, corporate debt securities, convertible securities, rights, warrants and depositary receipts of regulated utility companies.
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