THE REAVES UTILITY INCOME FUND ANNOUNCES REGULAR MONTHLY DIVIDEND OF $0.19 PER SHARE
The Reaves Utility Income Fund (NYSE MKT: UTG) has declared three consecutive monthly dividends of $0.19 per common share, maintaining the previous quarter's rate. As of December 14, 2021, the market price was $33.79 per share, with a net asset value of $33.62 per share. The upcoming dividend dates include Ex-Dates on December 30, February 17, and March 17, 2022, with payment dates set for January 14, February 28, and March 31, respectively. The Fund prioritizes investments in utility and communication sectors to ensure stable income for its shareholders.
- Monthly dividend maintained at $0.19 per share, providing consistent income for investors.
- Total assets under management are approximately $2.7 billion, indicating a strong capital base.
- None.
DENVER, Dec. 17, 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, "We remain invested in high-quality utility and communications companies that pay consistent and growing income streams for Fund shareholders."
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: December 30, 2021
Record Date: December 31, 2021
Payable Date: January 14, 2022
Ex-Distribution Date: February 17, 2022
Record Date: February 18, 2022
Payable Date: February 28, 2022
Ex-Distribution Date: March 17, 2022
Record Date: March 18, 2022
Payable Date: March 31, 2022
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.
REA000517 12/17/2022
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SOURCE Reaves Utility Income Fund
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