Reaves Utility Income Fund Announces $0.21 Monthly Dividend
The Reaves Utility Income Fund (NYSE: UTG) has declared a monthly dividend of $0.21 per share, consistent with its previous payouts. The forward yield is currently at 6.98%. Payments are scheduled for October 30, November 30, and December 30, with respective record dates on October 19, November 17, and December 17. The fund continues to offer a high monthly dividend yield amid market concerns over interest rate hikes impacting utility stocks. Analysts suggest that the current pessimism around rising rates may present an opportunity for investors seeking income from UTG's stable payout history.
Tickers: $UTG
Topics: dividend income investing utilities