Western Asset Investment Grade Income Fund Inc. (NYSE:PAI – Get Free Report) announced a monthly dividend on Wednesday, February 21st, Wall Street Journal reports. Shareholders of record on Tuesday, April 23rd will be paid a dividend of 0.049 per share by the financial services provider on Wednesday, May 1st. This represents a $0.59 annualized dividend and a yield of 4.89%. The ex-dividend date of this dividend is Monday, April 22nd. This is a boost from Western Asset Investment Grade Income Fund’s previous monthly dividend of $0.05.
Western Asset Investment Grade Income Fund has decreased its dividend payment by an average of 2.5% per year over the last three years and has raised its dividend annually for the last 2 consecutive years.
Western Asset Investment Grade Income Fund Stock Performance
PAI stock opened at $12.03 on Friday. Western Asset Investment Grade Income Fund has a 1 year low of $10.59 and a 1 year high of $12.63. The stock has a 50-day simple moving average of $11.95 and a 200-day simple moving average of $11.73.
Institutional Investors Weigh In On Western Asset Investment Grade Income Fund
Western Asset Investment Grade Income Fund Company Profile
Western Asset Income Fund is a closed-ended fixed income mutual fund launched and managed by Western Asset Management Company. It is co-managed by Western Asset Management Company Limited. The fund invests in the fixed income markets of the United States. It primarily invests in investment grade debt, including government securities, bank debt, commercial paper, and cash or cash equivalents.
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