Reaves Utility Income Fund (NYSEAMERICAN:UTG – Get Free Report) announced a monthly dividend on Wednesday, October 9th, Wall Street Journal reports. Stockholders of record on Monday, December 16th will be given a dividend of 0.19 per share by the closed-end fund on Monday, December 30th. This represents a $2.28 annualized dividend and a dividend yield of 7.26%. The ex-dividend date of this dividend is Monday, December 16th.
Reaves Utility Income Fund has raised its dividend by an average of 1.8% annually over the last three years.
Reaves Utility Income Fund Trading Down 2.2 %
Shares of UTG traded down $0.71 during trading hours on Wednesday, reaching $31.41. 591,044 shares of the company traded hands, compared to its average volume of 344,588. Reaves Utility Income Fund has a 12-month low of $23.46 and a 12-month high of $33.17. The stock has a fifty day moving average of $28.19.
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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