Reaves Utility Income Fund (NYSEAMERICAN:UTG – Get Free Report) declared a monthly dividend on Wednesday, July 10th, Wall Street Journal reports. Shareholders of record on Friday, August 16th will be given a dividend of 0.19 per share by the closed-end fund on Friday, August 30th. This represents a $2.28 dividend on an annualized basis and a yield of 7.85%. The ex-dividend date is Friday, August 16th.
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 Stock Up 0.8 %
NYSEAMERICAN UTG opened at $29.03 on Wednesday. The business’s 50-day moving average is $27.33. Reaves Utility Income Fund has a 52-week low of $23.24 and a 52-week high of $29.06.
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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