UIL (LON:UTL) Shares Up 8.1% After Insider Buying Activity

UIL Limited (LON:UTL)’s share price was up 8.1% during trading on Friday after an insider bought additional shares in the company. The stock traded as high as GBX 107 ($1.40) and last traded at GBX 106.50 ($1.39). Approximately 48,165 shares were traded during trading, an increase of 277% from the average daily volume of 12,772 shares. The stock had previously closed at GBX 98.50 ($1.29).

Specifically, insider Stuart J. Bridges purchased 12,449 shares of the stock in a transaction on Thursday, October 10th. The shares were purchased at an average cost of GBX 107 ($1.40) per share, for a total transaction of £13,320.43 ($17,432.84).

UIL Stock Down 1.9 %

The stock has a market capitalization of £87.53 million, a P/E ratio of -368.57 and a beta of 0.82. The stock has a 50 day simple moving average of GBX 100.24 and a two-hundred day simple moving average of GBX 103.55.

UIL Announces Dividend

The company also recently announced a dividend, which will be paid on Friday, November 8th. Investors of record on Thursday, September 26th will be paid a GBX 2 ($0.03) dividend. The ex-dividend date of this dividend is Thursday, September 26th. This represents a dividend yield of 2.05%. UIL’s dividend payout ratio is presently -2,857.14%.

About UIL

UIL Limited is a closed-ended equity mutual fund launched and managed by ICM Limited. The fund invests in public equity markets across the globe. It seeks to invest in stocks of companies operating in the infrastructure, utility, and related sectors including water, sewerage, waste, electricity, gas, telecommunications, ports, airports, service, rail, roads, and any business with essential service or monopolistic characteristics.