BlackRock Multi-Sector Income Trust (NYSE:BIT) Plans Dividend Increase – $0.12 Per Share

BlackRock Multi-Sector Income Trust (NYSE:BIT) announced a monthly dividend on Thursday, August 1st, Zacks reports. Stockholders of record on Thursday, August 15th will be given a dividend of 0.124 per share by the investment management company on Friday, August 30th. This represents a $1.49 dividend on an annualized basis and a dividend yield of 10.18%. The ex-dividend date is Thursday, August 15th. This is an increase from BlackRock Multi-Sector Income Trust’s previous monthly dividend of $0.12.

BlackRock Multi-Sector Income Trust Stock Performance

Shares of BIT stock traded down $0.13 during trading hours on Friday, hitting $14.62. 213,104 shares of the company were exchanged, compared to its average volume of 102,172. BlackRock Multi-Sector Income Trust has a one year low of $13.65 and a one year high of $15.98. The business’s 50-day simple moving average is $14.67 and its two-hundred day simple moving average is $15.15.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada raised BlackRock Multi-Sector Income Trust to a “hold” rating in a report on Thursday, July 25th.

About BlackRock Multi-Sector Income Trust

BlackRock Multi-Sector Income Trust is a close ended fixed income mutual fund launched by BlackRock, Inc It is co-managed by BlackRock Advisors, LLC and BlackRock (Singapore) Limited. The fund invests in fixed income markets. It invests primarily in loan and debt instruments and other investments with similar economic characteristic.