BNY Mellon Municipal Income, Inc. (DMF) to Distribute Monthly Dividend of $0.02 on October 31st

BNY Mellon Municipal Income, Inc. (NYSE:DMF) declared a monthly dividend on Friday, September 27th, Wall Street Journal reports. Investors of record on Tuesday, October 15th will be paid a dividend of 0.019 per share on Thursday, October 31st. This represents a $0.23 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date is Tuesday, October 15th.

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

BNY Mellon Municipal Income Price Performance

Shares of NYSE DMF opened at $7.31 on Friday. The stock’s 50-day simple moving average is $7.32 and its 200-day simple moving average is $7.06. BNY Mellon Municipal Income has a fifty-two week low of $5.37 and a fifty-two week high of $7.49.

Insider Activity

In other news, major shareholder Saba Capital Management, L.P. sold 220,866 shares of the stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $7.36, for a total value of $1,625,573.76. Following the completion of the sale, the insider now directly owns 2,156,152 shares of the company’s stock, valued at approximately $15,869,278.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.00% of the company’s stock.

About BNY Mellon Municipal Income

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.