Ecofin Sustainable and Social Impact Term Fund (NYSE:TEAF) Announces Monthly Dividend of $0.09

Ecofin Sustainable and Social Impact Term Fund (NYSE:TEAF) declared a monthly dividend on Tuesday, May 20th, Wall Street Journal reports. Shareholders of record on Friday, August 22nd will be paid a dividend of 0.09 per share on Friday, August 29th. This represents a $1.08 annualized dividend and a yield of 9.23%. The ex-dividend date of this dividend is Friday, August 22nd.

Ecofin Sustainable and Social Impact Term Fund has increased its dividend payment by an average of 5.9% per year over the last three years.

Ecofin Sustainable and Social Impact Term Fund Stock Up 0.6%

NYSE:TEAF opened at $11.70 on Tuesday. Ecofin Sustainable and Social Impact Term Fund has a fifty-two week low of $10.09 and a fifty-two week high of $13.34. The firm’s fifty day simple moving average is $11.25 and its 200-day simple moving average is $11.89.

Insider Buying and Selling at Ecofin Sustainable and Social Impact Term Fund

In other news, major shareholder Saba Capital Management, L.P. acquired 2,473 shares of the stock in a transaction on Tuesday, April 1st. The stock was bought at an average price of $11.35 per share, with a total value of $28,068.55. Following the completion of the transaction, the insider now directly owns 1,386,037 shares of the company’s stock, valued at $15,731,519.95. The trade was a 0.18% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last ninety days, insiders have bought 139,210 shares of company stock worth $1,506,031.

About Ecofin Sustainable and Social Impact Term Fund

Tortoise Essential Assets Income Term Fund is a closed-ended balanced mutual fund launched and managed by Tortoise Capital Advisors LLC It invests in equity and fixed income markets. The fund seeks to invest in securities of companies operating in the essential asset sectors, which includes education, housing, healthcare, social and human services, power, water, energy, infrastructure, basic materials, industrial, transportation and telecommunications sectors.