Nuveen Preferred and Income Term Fund (NYSE:JPI) to Issue Monthly Dividend of $0.17

Nuveen Preferred and Income Term Fund (NYSE:JPI) announced a monthly dividend on Thursday, January 2nd,Wall Street Journal reports. Investors of record on Wednesday, January 15th will be given a dividend of 0.166 per share on Monday, February 3rd. This represents a $1.99 dividend on an annualized basis and a yield of 10.01%. The ex-dividend date is Wednesday, January 15th.

Nuveen Preferred and Income Term Fund has decreased its dividend payment by an average of 8.1% annually over the last three years.

Nuveen Preferred and Income Term Fund Price Performance

JPI traded up $0.11 during midday trading on Friday, reaching $19.90. 15,294 shares of the company were exchanged, compared to its average volume of 18,747. The stock’s 50-day simple moving average is $20.45 and its 200 day simple moving average is $20.14. Nuveen Preferred and Income Term Fund has a one year low of $18.26 and a one year high of $21.42.

Nuveen Preferred and Income Term Fund Company Profile

Nuveen Preferred and Income Term Fund is a close ended balanced mutual fund launched by Nuveen Investments, Inc The fund is co-managed by Nuveen Fund Advisors LLC and Nuveen Asset Management, LLC. It invests into public equity and fixed income markets across the globe. The fund seeks to invest in stocks of companies that are operating in financial services sectors such as bank, insurance, REITs, and utility companies.