Reaves Utility Income Fund reports recurring closed-end fund updates centered on monthly common-share distributions, distribution-rate changes, market price and net asset value. The fund seeks a high level of after-tax income and total return through tax-advantaged distributions and capital appreciation.
The fund invests at least 80% of assets in domestic and foreign companies involved in electricity, gas, water, telecommunications and infrastructure operations, including airports, toll roads and municipal services. News also addresses the fund's 19b-1 distribution exemption and the possible classification of distributions as income, capital gains or return of capital.
Summary not available.
Summary not available.
The Reaves Utility Income Fund (UTG) has declared monthly dividends of $0.18 per share for the upcoming months, maintaining the previous quarter's rate. As of July 7, 2020, UTG's market price was $30.30 per share with a net asset value of $29.66. Key dates for dividends include the ex-distribution dates of July 23, August 20, and September 17, 2020, with payable dates on July 31, August 31, and September 30, 2020, respectively. The Fund manages approximately $1.9 billion in assets and focuses on utility and communications investments.