BNY Mellon Municipal Income, Inc. to Issue Monthly Dividend of $0.02 (NYSE:DMF)

BNY Mellon Municipal Income, Inc. (NYSE:DMF) announced a monthly dividend on Tuesday, October 1st, Wall Street Journal reports. Stockholders of record on Tuesday, October 15th will be paid a dividend of 0.019 per share on Thursday, October 31st. This represents a $0.23 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date of this dividend is Tuesday, October 15th.

BNY Mellon Municipal Income has decreased its dividend by an average of 18.1% annually over the last three years.

BNY Mellon Municipal Income Price Performance

Shares of NYSE:DMF traded up $0.01 during midday trading on Tuesday, hitting $7.32. The stock had a trading volume of 437,726 shares, compared to its average volume of 59,691. The business’s 50-day simple moving average is $7.31 and its 200-day simple moving average is $7.03. BNY Mellon Municipal Income has a 12 month low of $5.37 and a 12 month high of $7.49.

Insider Buying and Selling

In other news, major shareholder Saba Capital Management, L.P. sold 220,866 shares of the stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $7.36, for a total transaction of $1,625,573.76. Following the transaction, the insider now owns 2,156,152 shares in the company, valued at $15,869,278.72. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.00% of the stock is currently owned by insiders.

About BNY Mellon Municipal Income

BNY Mellon Municipal Income, Inc is a closed ended fixed income mutual fund launched and managed by BNY Mellon Investment Adviser, Inc It invests in the fixed income markets of the United States. The fund primarily invests in municipal obligations that are rated investment grade and have maturities of less than one year.