BlackRock California Municipal Income Trust (NYSE:BFZ) Announces $0.06 Monthly Dividend

BlackRock California Municipal Income Trust (NYSE:BFZ) announced a monthly dividend on Monday, March 3rd, NASDAQ Dividends reports. Stockholders of record on Friday, March 14th will be paid a dividend of 0.059 per share on Tuesday, April 1st. This represents a $0.71 dividend on an annualized basis and a dividend yield of 6.26%. The ex-dividend date is Friday, March 14th.

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

BlackRock California Municipal Income Trust Stock Down 0.6 %

Shares of NYSE BFZ traded down $0.07 during midday trading on Tuesday, reaching $11.32. 82,248 shares of the stock were exchanged, compared to its average volume of 86,200. BlackRock California Municipal Income Trust has a twelve month low of $11.10 and a twelve month high of $12.23. The company has a 50 day simple moving average of $11.29 and a 200 day simple moving average of $11.64.

Insider Activity at BlackRock California Municipal Income Trust

In related news, major shareholder Saba Capital Management, L.P. sold 13,200 shares of BlackRock California Municipal Income Trust stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $11.36, for a total value of $149,952.00. Following the completion of the sale, the insider now owns 4,752,360 shares in the company, valued at approximately $53,986,809.60. This trade represents a 0.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders sold 280,937 shares of company stock worth $3,162,753.

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.