BlackRock California Municipal Income Trust (NYSE:BFZ) Declares Monthly Dividend of $0.05

BlackRock California Municipal Income Trust (NYSE:BFZ) announced a monthly dividend on Wednesday, May 1st, Zacks reports. Investors of record on Wednesday, May 15th will be paid a dividend of 0.051 per share on Monday, June 3rd. This represents a $0.61 dividend on an annualized basis and a yield of 5.23%. The ex-dividend date of this dividend is Tuesday, May 14th.

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

BlackRock California Municipal Income Trust Stock Performance

NYSE BFZ traded up $0.08 on Friday, hitting $11.70. The stock had a trading volume of 65,986 shares, compared to its average volume of 55,480. BlackRock California Municipal Income Trust has a 52-week low of $9.86 and a 52-week high of $12.31. The firm has a 50-day moving average of $11.74 and a 200-day moving average of $11.45.

Insider Buying and Selling

In related news, major shareholder Saba Capital Management, L.P. bought 14,317 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The stock was bought at an average cost of $11.68 per share, for a total transaction of $167,222.56. Following the completion of the transaction, the insider now owns 5,144,048 shares of the company’s stock, valued at $60,082,480.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last three months, insiders have purchased 119,997 shares of company stock worth $1,419,446.

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.