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

Reaves Utility Income Fund (NYSEAMERICAN:UTG) declared a monthly dividend on Tuesday, April 8th, Wall Street Journal reports. Investors of record on Tuesday, June 17th will be paid 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 of this dividend is Tuesday, June 17th.

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

Reaves Utility Income Fund Stock Performance

Shares of NYSEAMERICAN:UTG remained flat at $29.08 during midday trading on Tuesday. 625,894 shares of the stock were exchanged, compared to its average volume of 327,506. The business has a 50 day moving average price of $32.87 and a 200 day moving average price of $31.88. Reaves Utility Income Fund has a one year low of $25.26 and a one year high of $35.29.

About Reaves Utility Income Fund

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.