Reaves Utility Income Fund Announces Monthly Dividend of $0.19 (NYSEAMERICAN:UTG)

Reaves Utility Income Fund (NYSEAMERICAN:UTGGet Free Report) announced a monthly dividend on Friday, April 5th, Wall Street Journal reports. Investors of record on Friday, May 17th will be paid a dividend of 0.19 per share by the closed-end fund on Friday, May 31st. This represents a $2.28 annualized dividend and a yield of 8.09%. The ex-dividend date is Thursday, May 16th.

Reaves Utility Income Fund has increased its dividend payment by an average of 1.8% per year over the last three years.

Reaves Utility Income Fund Stock Up 0.6 %

UTG opened at $28.20 on Tuesday. Reaves Utility Income Fund has a 12-month low of $23.24 and a 12-month high of $28.63. The company has a 50 day simple moving average of $26.32.

Insider Buying and Selling at Reaves Utility Income Fund

In related news, Director Joellen Legg acquired 1,890 shares of the company’s stock in a transaction dated Monday, March 25th. The shares were bought at an average cost of $26.46 per share, with a total value of $50,009.40. Following the completion of the transaction, the director now directly owns 1,890 shares of the company’s stock, valued at $50,009.40. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link.

About Reaves Utility Income Fund

(Get Free Report)

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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Dividend History for Reaves Utility Income Fund (NYSEAMERICAN:UTG)

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