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

BlackRock California Municipal Income Trust (NYSE:BFZ) announced a monthly dividend on Thursday, April 3rd, Wall Street Journal reports. Stockholders of record on Tuesday, April 15th will be given a dividend of 0.059 per share on Thursday, May 1st. This represents a $0.71 dividend on an annualized basis and a dividend yield of 6.31%. The ex-dividend date of this dividend is Tuesday, April 15th.

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

BlackRock California Municipal Income Trust Stock Performance

NYSE BFZ traded up $0.14 on Thursday, reaching $11.23. 193,331 shares of the company were exchanged, compared to its average volume of 81,475. The business’s fifty day moving average price is $11.21 and its 200 day moving average price is $11.52. BlackRock California Municipal Income Trust has a fifty-two week low of $10.84 and a fifty-two week high of $12.23.

Insiders Place Their Bets

In other BlackRock California Municipal Income Trust news, major shareholder Saba Capital Management, L.P. sold 13,200 shares of BlackRock California Municipal Income Trust stock in a transaction 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 transaction, the insider now directly owns 4,752,360 shares in the company, valued at approximately $53,986,809.60. The trade was a 0.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 280,937 shares of company stock worth $3,162,753 in 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.