Reaves Utility Income Fund (NYSEAMERICAN:UTG) Increases Dividend to $0.21 Per Share

Reaves Utility Income Fund (NYSEAMERICAN:UTG) announced a monthly dividend on Tuesday, June 23rd. Shareholders of record on Friday, July 17th will be given a dividend of 0.21 per share by the closed-end fund on Friday, July 31st. This represents a c) annualized dividend 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 Stock Down 0.2%

NYSEAMERICAN:UTG opened at $42.46 on Wednesday. The business’s 50-day moving average price is $41.99 and its two-hundred day moving average price is $39.86. Reaves Utility Income Fund has a twelve month low of $35.28 and a twelve month high of $43.90.

About Reaves Utility Income Fund

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.