BlackRock California Municipal Income Trust (NYSE:BFZ) to Issue Monthly Dividend of $0.06

BlackRock California Municipal Income Trust (NYSE:BFZ) declared a monthly dividend on Monday, February 3rd,NASDAQ Dividends reports. Investors of record on Friday, February 14th will be paid a dividend of 0.059 per share on Monday, March 3rd. This represents a $0.71 dividend on an annualized basis and a yield of 6.26%. The ex-dividend date is Friday, February 14th.

BlackRock California Municipal Income Trust has increased its dividend by an average of 9.8% annually over the last three years.

BlackRock California Municipal Income Trust Stock Up 0.0 %

NYSE:BFZ traded up $0.01 on Tuesday, reaching $11.31. 226,513 shares of the company’s stock were exchanged, compared to its average volume of 82,419. BlackRock California Municipal Income Trust has a 52-week low of $11.10 and a 52-week high of $12.23. The business has a fifty day moving average of $11.41 and a 200-day moving average of $11.74.

Insiders Place Their Bets

In other news, major shareholder Saba Capital Management, L.P. sold 20,717 shares of the business’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $11.27, for a total transaction of $233,480.59. Following the completion of the transaction, the insider now directly owns 4,977,191 shares of the company’s stock, valued at approximately $56,092,942.57. The trade was a 0.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 225,019 shares of company stock worth $2,543,345 over the last 90 days.

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.