Reaves Utility Income Fund (UTG) to Issue Monthly Dividend of $0.19 on March 31st

Reaves Utility Income Fund (NYSEAMERICAN:UTG) announced a monthly dividend on Tuesday, December 17th, Wall Street Journal reports. Shareholders of record on Tuesday, March 18th will be paid a dividend of 0.19 per share by the closed-end fund on Monday, March 31st. This represents a $2.28 dividend on an annualized basis and a dividend yield of 7.06%. The ex-dividend date is Tuesday, March 18th.

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

Reaves Utility Income Fund Trading Up 1.3 %

Shares of UTG opened at $32.28 on Friday. The firm has a 50-day simple moving average of $32.84 and a two-hundred day simple moving average of $31.63. Reaves Utility Income Fund has a 1-year low of $25.26 and a 1-year high of $35.29.

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.