Reaves Utility Income Fund (NYSEAMERICAN:UTG) to Issue Monthly Dividend of $0.19

Reaves Utility Income Fund (NYSEAMERICAN:UTG) announced a monthly dividend on Wednesday, April 9th, Wall Street Journal reports. Stockholders of record on Tuesday, June 17th will be given a dividend of 0.19 per share by the closed-end fund on Monday, June 30th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 7.84%. The ex-dividend date is Tuesday, June 17th.

Reaves Utility Income Fund has raised its dividend by an average of 0.7% per year over the last three years.

Reaves Utility Income Fund Stock Performance

UTG opened at $29.08 on Wednesday. Reaves Utility Income Fund has a 1-year low of $25.26 and a 1-year high of $35.29. The stock’s 50 day simple moving average is $32.68 and its 200 day simple moving average is $31.84.

Reaves Utility Income Fund Company Profile

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.