BlackRock California Municipal Income Trust (NYSE:BFZ) Announces $0.06 Monthly Dividend

BlackRock California Municipal Income Trust (NYSE:BFZ) declared a monthly dividend on Thursday, January 2nd,NASDAQ Dividends reports. Shareholders of record on Wednesday, January 15th will be given a dividend of 0.059 per share on Monday, February 3rd. This represents a $0.71 dividend on an annualized basis and a yield of 6.23%. The ex-dividend date is Wednesday, January 15th.

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

BlackRock California Municipal Income Trust Price Performance

Shares of NYSE BFZ traded down $0.01 during midday trading on Friday, hitting $11.36. 66,888 shares of the company’s stock traded hands, compared to its average volume of 56,794. The firm has a fifty day moving average of $11.58 and a 200 day moving average of $11.85. BlackRock California Municipal Income Trust has a 1 year low of $11.10 and a 1 year high of $12.23.

Insider Activity

In other BlackRock California Municipal Income Trust news, major shareholder Saba Capital Management, L.P. sold 6,313 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $11.89, for a total value of $75,061.57. Following the completion of the transaction, the insider now directly owns 5,233,255 shares in the company, valued at $62,223,401.95. This represents a 0.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

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.