Reaves Utility Income Fund (NYSEAMERICAN:UTG – Get Free Report) declared a monthly dividend on Monday, October 7th,Wall Street Journal reports. Stockholders of record on Friday, November 15th will be given a dividend of 0.19 per share by the closed-end fund on Friday, November 29th. This represents a $2.28 annualized dividend and a dividend yield of 6.77%. The ex-dividend date is Friday, November 15th.
Reaves Utility Income Fund has increased its dividend by an average of 1.8% annually over the last three years.
Reaves Utility Income Fund Trading Up 0.5 %
NYSEAMERICAN UTG opened at $33.66 on Thursday. Reaves Utility Income Fund has a 1-year low of $25.26 and a 1-year high of $33.79. The company has a 50-day moving average price of $28.77.
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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