Nuveen Floating Rate Income Fund Plans Monthly Dividend of $0.08 (NYSE:JFR)

Nuveen Floating Rate Income Fund (NYSE:JFR) announced a monthly dividend on Wednesday, July 1st. Investors of record on Wednesday, July 15th will be given a dividend of 0.078 per share on Monday, August 3rd. This represents a c) dividend on an annualized basis and a dividend yield of 12.2%. The ex-dividend date is Wednesday, July 15th.

Nuveen Floating Rate Income Fund Stock Performance

Nuveen Floating Rate Income Fund stock opened at $7.70 on Thursday. The stock’s 50 day moving average price is $7.58 and its 200 day moving average price is $7.64. Nuveen Floating Rate Income Fund has a 1-year low of $7.16 and a 1-year high of $8.59.

Nuveen Floating Rate Income Fund Company Profile

Nuveen Floating Rate Income Fund (NYSE: JFR) is a diversified, closed-end management investment company that seeks to provide current income by primarily investing in floating rate senior loans and other floating rate debt instruments. The fund focuses on senior secured loans issued by U.S. and non-U.S. corporations, aiming to benefit from variable interest payments that adjust with prevailing short-term rates and to help mitigate interest-rate risk. In pursuing its objective, the fund may also allocate assets to high-yield corporate debt, bank debt and other floating-rate instruments across a range of industries.

The fund employs leverage and a disciplined credit review process to enhance income generation.