BNY Mellon Municipal Income, Inc. (NYSE:DMF) to Issue Dividend Increase – $0.02 Per Share

BNY Mellon Municipal Income, Inc. (NYSE:DMF) declared a monthly dividend on Thursday, May 9th, Wall Street Journal reports. Investors of record on Friday, June 14th will be given a dividend of 0.019 per share on Friday, June 28th. This represents a $0.23 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date of this dividend is Friday, June 14th. This is an increase from BNY Mellon Municipal Income’s previous monthly dividend of $0.02.

BNY Mellon Municipal Income has decreased its dividend payment by an average of 18.1% per year over the last three years.

BNY Mellon Municipal Income Trading Up 0.2 %

NYSE:DMF opened at $6.87 on Friday. The firm’s fifty day simple moving average is $6.70 and its 200 day simple moving average is $6.45. BNY Mellon Municipal Income has a 1 year low of $5.37 and a 1 year high of $6.87.

Insider Buying and Selling

In other news, major shareholder Saba Capital Management, L.P. bought 20,410 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The stock was acquired at an average price of $6.75 per share, for a total transaction of $137,767.50. Following the transaction, the insider now directly owns 2,377,018 shares of the company’s stock, valued at approximately $16,044,871.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.00% of the stock is currently owned by corporate insiders.

BNY Mellon Municipal Income Company Profile

BNY Mellon Municipal Income, Inc is a closed ended fixed income mutual fund launched and managed by BNY Mellon Investment Adviser, Inc It invests in the fixed income markets of the United States. The fund primarily invests in municipal obligations that are rated investment grade and have maturities of less than one year.