Western Asset Intermediate Muni Fund Inc. (NYSE:SBI) Raises Dividend to $0.04 Per Share

Western Asset Intermediate Muni Fund Inc. (NYSE:SBI) declared a monthly dividend on Wednesday, February 21st, Wall Street Journal reports. Shareholders of record on Tuesday, April 23rd will be given a dividend of 0.042 per share on Wednesday, May 1st. This represents a $0.50 dividend on an annualized basis and a yield of 6.51%. The ex-dividend date is Monday, April 22nd. This is a boost from Western Asset Intermediate Muni Fund’s previous monthly dividend of $0.03.

Western Asset Intermediate Muni Fund Stock Up 0.1 %

SBI stock opened at $7.74 on Friday. Western Asset Intermediate Muni Fund has a 12 month low of $6.96 and a 12 month high of $8.00. The firm’s fifty day simple moving average is $7.88 and its 200-day simple moving average is $7.65.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mariner LLC raised its stake in shares of Western Asset Intermediate Muni Fund by 75.0% during the 1st quarter. Mariner LLC now owns 65,981 shares of the company’s stock valued at $567,000 after buying an additional 28,268 shares during the last quarter. Royal Bank of Canada grew its holdings in Western Asset Intermediate Muni Fund by 25.8% during the first quarter. Royal Bank of Canada now owns 90,397 shares of the company’s stock worth $777,000 after acquiring an additional 18,558 shares during the period. LPL Financial LLC raised its position in Western Asset Intermediate Muni Fund by 9.4% during the second quarter. LPL Financial LLC now owns 187,037 shares of the company’s stock valued at $1,508,000 after acquiring an additional 16,005 shares in the last quarter. Captrust Financial Advisors acquired a new position in Western Asset Intermediate Muni Fund in the second quarter valued at approximately $39,000. Finally, Dearborn Partners LLC purchased a new stake in Western Asset Intermediate Muni Fund in the 3rd quarter worth approximately $77,000.

Western Asset Intermediate Muni Fund Company Profile

Western Asset Intermediate Muni Fund Inc is a closed ended fixed income mutual fund launched and managed by Legg Mason Partners Fund Advisor, LLC. The fund is co-managed by Western Asset Management Company. It invests in the fixed income markets of the United States. The fund invests in securities that provide income exempt from federal income tax.