|Bid||35.12 x 1100|
|Ask||35.18 x 800|
|Day's Range||35.06 - 35.36|
|52 Week Range||30.10 - 35.61|
|Beta (5Y Monthly)||0.66|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||2.28 (6.50%)|
|Ex-Dividend Date||Jul 22, 2021|
|1y Target Est||N/A|
On June 30, 2021, the Reaves Utility Income Fund (NYSE MKT: UTG) (the "Fund"), a closed-end sector fund, paid a monthly distribution on its common stock of $0.18 per share to shareholders of record at the close of business on June 18, 2021.
The Reaves Utility Income Fund (NYSE MKT: UTG) is pleased to announce today a 5.56% increase in its annual distribution to $2.28, to be paid monthly at the rate of $0.19 per common share. This is the twelfth increase of the distribution since the Fund's inception in February 2004. The increased dividend rate represents an annualized distribution rate of 6.47% based on the current market price. As of June 16, 2021, the Fund's market price was $35.22 per share and its net asset value was $34.34 pe
The Reaves Utility Income Fund is pleased to announce the initiation of a breakpoint in fees. The advisory and administrative fee on gross assets greater than $2.5 billion will be 0.765%, down from the current rate of 0.84%. The reduction is in line with the Fund's goal of providing a monthly distribution and competitive long-term total returns while being amongst the lowest cost funds in its peer group.