Reaves Utility Income Fund (NYSEAMERICAN:UTG – Get Free Report) announced a monthly dividend on Tuesday, December 17th,Wall Street Journal reports. Stockholders of record on Tuesday, March 18th will be given a dividend of 0.19 per share by the closed-end fund on Monday, March 31st. This represents a $2.28 dividend on an annualized basis and a dividend yield of 7.40%. The ex-dividend date of this dividend is Tuesday, March 18th.
Reaves Utility Income Fund has raised its dividend by an average of 1.8% annually over the last three years.
Reaves Utility Income Fund Price Performance
UTG stock opened at $30.81 on Thursday. The company has a 50-day simple moving average of $30.18. Reaves Utility Income Fund has a 12 month low of $25.26 and a 12 month high of $35.29.
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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