Reaves Utility Income Fund (NYSEAMERICAN:UTG – Get Free Report) announced a monthly dividend on Monday, December 16th,NASDAQ Dividends reports. Shareholders of record on Tuesday, December 31st will be given a dividend of 0.19 per share by the closed-end fund on Friday, January 17th. This represents a $2.28 annualized dividend and a yield of 7.17%. The ex-dividend date is Tuesday, December 31st.
Reaves Utility Income Fund has raised its dividend by an average of 1.8% per year over the last three years.
Reaves Utility Income Fund Stock Down 1.9 %
Shares of NYSEAMERICAN:UTG opened at $31.80 on Wednesday. Reaves Utility Income Fund has a 12-month low of $25.26 and a 12-month high of $35.29. The company’s 50 day moving average is $30.18.
About Reaves Utility Income Fund
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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