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Reaves Utility Income Fund (UTG) has declared monthly distributions of $0.19 per common share for the next three months, maintaining the previous quarter's rate. As of December 9, 2024, the Fund's market price was $33.62 per share with a net asset value of $33.58 per share.
The Fund, managing approximately $3.66 billion in total assets with 87.80 million common shares outstanding, maintains its investment focus on utility and infrastructure companies. At least 80% of assets are invested in companies involved in electricity/gas/water generation/distribution, telecommunications, and infrastructure operations.
The upcoming distributions are scheduled for payment on January 17, February 28, and March 31, 2025. The Fund continues its strategy of providing high after-tax income and total return through tax-advantaged distributions and capital appreciation.
The Reaves Utility Income Fund (UTG) announced its monthly distribution of $0.19 per share on November 29, 2024, to shareholders of record as of November 15, 2024. The distribution breakdown includes: 15.19% from net investment income, 4.47% from short-term capital gains, 79.44% from long-term capital gains, and 0.90% from return of capital. The Fund's fiscal year-to-date performance shows an annualized distribution rate of 6.99% and a cumulative total return of 44.18% on NAV. The Fund's 5-year average annual total return through October 31, 2024, stands at 5.25%.
Reaves Utility Income Fund (UTG) distributed a monthly payment of $0.19 per share on October 31, 2024, to shareholders of record as of October 18, 2024. The distribution breakdown shows 0.97% from net investment income and 99.03% from net realized long-term capital gain. For the fiscal year-to-date, cumulative distributions include 20.36% from net investment income, 1.23% from short-term capital gains, 76.43% from long-term capital gains, and 1.98% from return of capital.
The Fund's performance metrics indicate a 7.02% annualized distribution rate and a 43.73% cumulative total return on NAV for the fiscal year to date. The 5-year average annual total return through September 30, 2024, stands at 4.87%.
On September 30, 2024, the Reaves Utility Income Fund (NYSE American:UTG) paid a monthly distribution of $0.19 per share to shareholders. The distribution sources were: 23.78% from net investment income, 76.22% from net realized long-term capital gain. For the fiscal year-to-date, cumulative distributions were: 22.12% from net investment income, 1.34% from net realized short-term capital gain, 74.38% from net realized long-term capital gain, and 2.16% from return of capital.
The Fund's performance indicators show an annualized distribution rate of 7.61% and a cumulative total return on NAV of 30.97% for the fiscal year to date. The average annual total return on NAV for the 5-year period ended August 31, 2024, was 3.82%. The Fund's distribution policy is subject to modification by the Board of Trustees based on various factors.
The Reaves Utility Income Fund (NYSE American:UTG) paid a monthly distribution of $0.19 per share on August 30, 2024. The distribution sources were: 15.37% from net investment income, 84.63% from net realized long-term capital gain. For the fiscal year-to-date, the cumulative distribution sources were: 21.96% from net investment income, 1.47% from net realized short-term capital gain, 74.19% from net realized long-term capital gain, and 2.38% from return of capital.
The Fund's performance metrics include an annualized distribution rate of 7.98% and a cumulative total return of 24.11% for the fiscal year to date. The average annual total return for the 5-year period ended July 31, 2024, was 3.27%. Shareholders are reminded that distribution rates do not measure investment value, which is determined by market supply and demand for Fund shares.
The Reaves Utility Income Fund (NYSE American:UTG) paid a monthly distribution of $0.19 per share on July 31, 2024. The distribution was entirely from net realized long-term capital gain. For the fiscal year-to-date, distributions came from various sources: 22.69% net investment income, 1.64% short-term capital gain, 73.03% long-term capital gain, and 2.64% return of capital.
The Fund's annualized distribution rate is 8.47% of NAV, with a cumulative total return on NAV of 16.13% for the fiscal year to date. The 5-year average annual total return on NAV is 2.00%. The Fund's distribution policy is subject to modification by the Board of Trustees, considering factors such as NAV and market conditions.
The Reaves Utility Income Fund (NYSE American: UTG) has announced its upcoming regular monthly distributions of $0.19 per share, consistent with the previous quarter. The fund's market price was $27.16 per share and its net asset value was $26.86 per share as of July 2, 2024.
Tim Porter, the Fund's co-portfolio manager and Chief Investment Officer, expressed confidence in the portfolio's ability to continue supporting monthly distributions. The fund, adhering to the 19b-1 exemption from the SEC, may source distributions from various income types, including capital gains and return of capital.
Focusing on utility and infrastructure investments, the fund maintains at least 80% of its assets in companies involved in electricity, gas, water generation, telecommunications, and infrastructure operations. The upcoming distribution dates are July 31, August 30, and September 30, 2024.
With $2.83 billion in assets and 83.30 million shares outstanding as of early July 2024, the fund aims for high after-tax income and total return through tax-advantaged distributions and capital appreciation.
On June 28, 2024, the Reaves Utility Income Fund (NYSE American: UTG) issued a monthly distribution of $0.19 per share to shareholders of record as of June 17, 2024. The distribution sources include 31.95% from net investment income, 14.72% from net realized short-term capital gains, and 53.33% from net realized long-term capital gains, with no return of capital. Year-to-date distributions total $1.52 per share. For tax purposes, the final character of distributions will be reported on IRS Form 1099-DIV in January 2025.
The Fund's fiscal year-to-date return on NAV is 21.10%, with a 5-year average annual total return of 3.91%. The distribution rate as a percentage of NAV is 8.07%. The Board of Trustees regularly reviews the distribution policy, which may be modified based on the Fund's performance and market conditions. It is important to note that past performance does not guarantee future results.
On May 31, 2024, Reaves Utility Income Fund (NYSE American: UTG) announced a monthly distribution of $0.19 per share to shareholders of record on May 17, 2024. The sources of distribution include 25.95% from net investment income and 74.05% from net realized long-term capital gains. Fiscal year-to-date, the Fund has distributed $1.33 per share, with 24.61% from net investment income, 71.99% from net realized long-term capital gains, and 3.40% from return of capital. The annualized distribution rate as a percentage of NAV is 8.74%. Return figures show an 11.05% cumulative total return on NAV for the fiscal year to date and a 1.66% average annual total return over the past five years. The Fund's distribution policy is under regular review by the Board of Trustees and may be modified at any time. These distributions may be taxable and will be reported on Form 1099-DIV in January 2025.
Reaves Utility Income Fund (NYSE American: UTG) released a Section 19(a) Notice detailing its monthly distribution of $0.19 per share to shareholders. The distribution breakdown includes net investment income, short-term and long-term capital gains, and return of capital percentages. Fiscal year-to-date cumulative distributions and tax implications were also disclosed. The fund's performance, distribution rates, and total returns were provided, cautioning shareholders about not solely relying on NAV performance. The Board of Trustees will monitor distribution levels, subject to modification.
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