Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) to Issue Monthly Dividend of $0.05

Posted by Renee Jackson on Feb 20th, 2025

Western Asset Investment Grade Income Fund Inc. (NYSE:PAI – Get Free Report) announced a monthly dividend on Thursday, February 20th, Wall Street Journal reports. Shareholders of record on Thursday, May 22nd will be given a dividend of 0.0525 per share by the financial services provider on Monday, June 2nd. This represents a $0.63 dividend on an annualized basis and a yield of 4.98%. The ex-dividend date of this dividend is Thursday, May 22nd. This is a positive change from Western Asset Investment Grade Income Fund’s previous monthly dividend of $0.05.

Western Asset Investment Grade Income Fund has increased its dividend payment by an average of 2.9% per year over the last three years.

Western Asset Investment Grade Income Fund Price Performance

Shares of PAI stock traded up $0.06 during trading hours on Thursday, reaching $12.66. 16,168 shares of the company’s stock were exchanged, compared to its average volume of 16,084. Western Asset Investment Grade Income Fund has a 1 year low of $11.65 and a 1 year high of $13.18. The stock’s fifty day moving average price is $12.48 and its two-hundred day moving average price is $12.59.

Institutional Trading of Western Asset Investment Grade Income Fund

An institutional investor recently raised its position in Western Asset Investment Grade Income Fund stock. Bank of America Corp DE lifted its stake in shares of Western Asset Investment Grade Income Fund Inc. (NYSE:PAI – Free Report) by 35.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,694 shares of the financial services provider’s stock after buying an additional 2,267 shares during the period. Bank of America Corp DE owned approximately 0.09% of Western Asset Investment Grade Income Fund worth $109,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 18.99% of the company’s stock.

Western Asset Investment Grade Income Fund Company Profile

(Get Free Report)

Western Asset Income Fund is a closed-ended fixed income mutual fund launched and managed by Western Asset Management Company. It is co-managed by Western Asset Management Company Limited. The fund invests in the fixed income markets of the United States. It primarily invests in investment grade debt, including government securities, bank debt, commercial paper, and cash or cash equivalents.