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 dividend yield of 6.26%. The ex-dividend date of this dividend is Friday, February 14th.

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

BlackRock California Municipal Income Trust Stock Down 0.1 %

NYSE:BFZ opened at $11.31 on Wednesday. The stock’s 50-day simple moving average is $11.38 and its 200 day simple moving average is $11.71. BlackRock California Municipal Income Trust has a twelve month low of $11.10 and a twelve month high of $12.23.

Insider Activity at BlackRock California Municipal Income Trust

In other news, major shareholder Saba Capital Management, L.P. sold 103,231 shares of BlackRock California Municipal Income Trust stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $11.17, for a total transaction of $1,153,090.27. Following the sale, the insider now directly owns 5,026,079 shares of the company’s stock, valued at approximately $56,141,302.43. This trade represents a 2.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold 262,333 shares of company stock valued at $2,951,520 over the last ninety days.

BlackRock California Municipal Income Trust Company Profile

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.