Reaves Utility Income Fund (NYSEAMERICAN:UTG) declared a monthly dividend on Wednesday, April 10th, Wall Street Journal reports. Investors of record on Monday, April 22nd will be given a dividend of 0.17 per share by the closed-end fund on Tuesday, April 30th. This represents a $2.04 dividend on an annualized basis and a yield of 5.93%. The ex-dividend date is Thursday, April 18th.
Reaves Utility Income Fund has increased its dividend payment by an average of 3.5% annually over the last three years.
UTG opened at $34.39 on Wednesday. Reaves Utility Income Fund has a twelve month low of $26.96 and a twelve month high of $34.51.
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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