BlackRock California Municipal Income Trust (NYSE:BFZ) to Issue Monthly Dividend of $0.06

BlackRock California Municipal Income Trust (NYSE:BFZ) declared a monthly dividend on Friday, November 1st,NASDAQ Dividends reports. Stockholders of record on Friday, November 15th will be given a dividend of 0.059 per share on Monday, December 2nd. This represents a $0.71 dividend on an annualized basis and a dividend yield of 6.11%. The ex-dividend date is Friday, November 15th.

BlackRock California Municipal Income Trust has raised its dividend payment by an average of 1.4% per year over the last three years.

BlackRock California Municipal Income Trust Stock Down 0.9 %

Shares of NYSE:BFZ traded down $0.10 during midday trading on Wednesday, reaching $11.59. The company had a trading volume of 227,586 shares, compared to its average volume of 71,227. The stock’s fifty day moving average price is $11.98 and its 200-day moving average price is $11.91. BlackRock California Municipal Income Trust has a one year low of $10.70 and a one year high of $12.31.

Insider Buying and Selling

In related news, major shareholder Saba Capital Management, L.P. sold 30,293 shares of BlackRock California Municipal Income Trust stock in a transaction on Friday, November 8th. The shares were sold at an average price of $11.82, for a total value of $358,063.26. Following the completion of the sale, the insider now owns 5,200,088 shares in the company, valued at approximately $61,465,040.16. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

About BlackRock California Municipal Income Trust

BlackRock California Municipal Income Trust is a closed ended fixed income mutual fund launched by BlackRock, Inc It is managed by BlackRock Advisors, LLC. The fund invests in fixed income markets. It invests primarily in investment grade municipal bonds that are exempt from regular federal and California income taxes.