The Reaves Utility Income Fund Announces Regular Monthly Dividend Of $0.19 Per Share
The Reaves Utility Income Fund (UTG) announced a monthly dividend of $0.19 per common share, maintaining the same rate as the previous quarter. As of October 4, 2021, the market price was $32.71 per share, with a net asset value of $32.36. The fund focuses on high-quality utility and communications companies that offer consistent income streams. Notably, it holds approximately $2.5 billion in assets under management. Upcoming dividend dates include ex-distribution on October 19, November 16, and December 16, with respective payable dates.
- Stable monthly dividend of $0.19 per share provides consistent income to shareholders.
- Approximately $2.5 billion in total assets under management indicates financial robustness.
- None.
DENVER, Oct. 7, 2021 /PRNewswire/ -- The Reaves Utility Income Fund (NYSE MKT: UTG) announced today the next three monthly dividends at a rate of
Tim Porter, the Fund's portfolio manager and Chief Investment Officer of Reaves Asset Management, the Fund's investment adviser, commented, "High-quality utility and communications companies continue to pay consistent and growing income streams for Fund shareholders. We remain optimistic about their outlook."
The Fund has formally implemented the 19b-1 exemption received from the Securities and Exchange Commission in 2009. A portion of each distribution may be treated as paid from sources other than net income, including but not limited to short-term capital gain, long-term capital gain and return of capital. The final determination of the source of these distributions, including the percentage of qualified dividend income, will be made after the Fund's year end.
Not less than eighty percent of the Fund's assets will continue to be invested in the securities of domestic and foreign companies involved to a significant extent in providing products, services or equipment for (i) the generation or distribution of electricity, gas or water, (ii) telecommunications activities or (iii) infrastructure operations, such as airports, toll roads and municipal services ("Utilities" or the "Utility Industry"). As a policy, the Fund continues to strive to provide a high level of after-tax income and total return consisting primarily of tax-advantaged distributions and capital appreciation.
The following dates apply to the upcoming dividends that have been declared:
Ex-Distribution Date: October 19, 2021
Record Date: October 20, 2021
Payable Date: October 29, 2021
Ex-Distribution Date: November 16, 2021
Record Date: November 17, 2021
Payable Date: November 30, 2021
Ex-Distribution Date: December 16, 2021
Record Date: December 17, 2021
Payable Date: December 30, 2021
The Reaves Utility Income Fund
The investment objective of the Fund is to provide a high level of income and total return consisting primarily of tax-advantaged distributions and capital appreciation. There were approximately
An investor should consider investment objectives, risks, charges and expenses carefully before investing. To obtain an annual report or semi-annual report which contains this and other information visit www.utilityincomefund.com or call 1-800-644-5571. Read them carefully before investing.
ALPS Portfolio Solutions Distributor, Inc., FINRA Member Firm.
REA000511 10/07/2022
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SOURCE Reaves Utility Income Fund
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