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

BlackRock California Municipal Income Trust (NYSE:BFZ) declared a monthly dividend on Monday, March 3rd, NASDAQ Dividends reports. Shareholders of record on Friday, March 14th will be given a dividend of 0.059 per share on Tuesday, April 1st. This represents a $0.71 annualized dividend and a yield of 6.26%. The ex-dividend date of this dividend is Friday, March 14th.

BlackRock California Municipal Income Trust has increased its dividend by an average of 9.8% per year over the last three years.

BlackRock California Municipal Income Trust Stock Down 0.6 %

BFZ stock traded down $0.07 during trading hours on Tuesday, hitting $11.32. 82,248 shares of the stock were exchanged, compared to its average volume of 86,200. The company has a 50-day simple moving average of $11.29 and a two-hundred day simple moving average of $11.64. BlackRock California Municipal Income Trust has a 12 month low of $11.10 and a 12 month high of $12.23.

Insiders Place Their Bets

In other news, major shareholder Saba Capital Management, L.P. sold 31,198 shares of the stock in a transaction on Monday, January 27th. The stock was sold at an average price of $11.24, for a total transaction of $350,665.52. Following the sale, the insider now directly owns 5,129,310 shares of the company’s stock, valued at approximately $57,653,444.40. This represents a 0.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold 280,937 shares of company stock worth $3,162,753 in the last 90 days.

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.