Reaves Utility Income Fund (NYSEAMERICAN:UTG) declared a monthly dividend on Wednesday, July 15th, Wall Street Journal reports. Stockholders of record on Friday, September 18th will be given a dividend of 0.18 per share by the closed-end fund on Wednesday, September 30th. This represents a $2.16 annualized dividend and a dividend yield of 6.77%. The ex-dividend date is Thursday, September 17th.
Reaves Utility Income Fund has decreased its dividend by 23.8% over the last three years and has raised its dividend annually for the last 2 consecutive years.
Shares of UTG opened at $31.90 on Wednesday. Reaves Utility Income Fund has a one year low of $19.45 and a one year high of $40.20.
In other news, Director Louis Francisco Cimino acquired 1,000 shares of the business’s stock in a transaction that occurred on Thursday, September 10th. The stock was bought at an average price of $31.61 per share, with a total value of $31,610.00. Following the completion of the acquisition, the director now directly owns 14,956 shares of the company’s stock, valued at approximately $472,759.16. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
About Reaves Utility Income Fund
There is no company description available for Reaves Utility Income Trust.
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