BlackRock California Municipal Income Trust Announces Monthly Dividend of $0.06 (NYSE:BFZ)

BlackRock California Municipal Income Trust (NYSE:BFZ) announced a monthly dividend on Monday, March 3rd, NASDAQ Dividends reports. Investors of record on Friday, March 14th will be given a dividend of 0.059 per share on Tuesday, April 1st. This represents a $0.71 annualized dividend and a yield of 6.26%. The ex-dividend date of this dividend is Friday, March 14th.

BlackRock California Municipal Income Trust has increased its dividend payment by an average of 9.8% annually over the last three years.

BlackRock California Municipal Income Trust Stock Performance

NYSE:BFZ traded down $0.07 during trading hours on Tuesday, hitting $11.32. The company’s stock had a trading volume of 82,248 shares, compared to its average volume of 86,200. The stock has a fifty day simple moving average of $11.29 and a 200-day simple moving average of $11.64. BlackRock California Municipal Income Trust has a twelve month low of $11.10 and a twelve month high of $12.23.

Insider Activity at BlackRock California Municipal Income Trust

In related news, major shareholder Saba Capital Management, L.P. sold 103,231 shares of the firm’s stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $11.17, for a total value of $1,153,090.27. Following the sale, the insider now directly owns 5,026,079 shares of the company’s stock, valued at $56,141,302.43. This trade represents a 2.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders have sold 280,937 shares of company stock valued at $3,162,753 over the last ninety days.

BlackRock California Municipal Income Trust Company Profile

BlackRock California Municipal Income Trust is a closed ended fixed income mutual fund launched by BlackRock, Inc It is managed by BlackRock Advisors, LLC. The fund invests in fixed income markets. It invests primarily in investment grade municipal bonds that are exempt from regular federal and California income taxes.