BlackRock California Municipal Income Trust (BFZ) to Issue Monthly Dividend of $0.06 on December 31st

BlackRock California Municipal Income Trust (NYSE:BFZ) announced a monthly dividend on Friday, December 6th,NASDAQ Dividends reports. Stockholders of record on Monday, December 16th will be given a dividend of 0.059 per share on Tuesday, December 31st. This represents a $0.71 dividend on an annualized basis and a dividend yield of 6.05%. The ex-dividend date of this dividend is Monday, December 16th.

BlackRock California Municipal Income Trust has raised its dividend payment by an average of 1.4% annually over the last three years.

BlackRock California Municipal Income Trust Price Performance

NYSE BFZ remained flat at $11.71 during mid-day trading on Friday. 119,292 shares of the company were exchanged, compared to its average volume of 77,992. BlackRock California Municipal Income Trust has a 52 week low of $11.41 and a 52 week high of $12.31. The business’s 50-day moving average price is $11.78 and its two-hundred day moving average price is $11.90.

Insider Activity at BlackRock California Municipal Income Trust

In other news, major shareholder Saba Capital Management, L.P. sold 30,293 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $11.82, for a total value of $358,063.26. Following the transaction, the insider now directly owns 5,200,088 shares in the company, valued at $61,465,040.16. This trade represents a 0.58 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

About BlackRock California Municipal Income Trust

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.