Reaves Utility Income Fund (NYSEAMERICAN:UTG) declared a monthly dividend on Monday, October 11th, Wall Street Journal reports. Investors of record on Friday, December 17th will be paid a dividend of 0.19 per share by the closed-end fund on Thursday, December 30th. This represents a $2.28 dividend on an annualized basis and a yield of 6.94%. The ex-dividend date of this dividend is Thursday, December 16th.
Reaves Utility Income Fund has increased its dividend payment by 12.5% over the last three years and has raised its dividend annually for the last 1 consecutive years.
Shares of NYSEAMERICAN UTG opened at $32.87 on Wednesday. Reaves Utility Income Fund has a 1 year low of $30.50 and a 1 year high of $36.50.
Reaves Utility Income Fund is a closed ended balanced mutual fund launched and managed by W. H. Reaves & Company, Inc The fund invests in public equity and fixed income markets of the United States. It seeks to invest in securities of companies operating in the Utilities sector. The fund primarily invests in dividend paying stocks and debt instruments of companies operating across all market capitalizations.
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