Reaves Utility Income Fund Announces Regular Monthly Distributions of $0.19 Per Share

Rhea-AI Summary

Reaves Utility Income Fund (UTG) has declared its next three monthly distributions at $0.19 per common share, maintaining the previous quarter's rate. As of April 2, 2025, the Fund's market price stood at $33.05 per share with a net asset value of $33.01.

The Fund, managing approximately $3.64 billion in total assets with 88.61 million common shares outstanding, maintains its investment focus with at least 80% of assets in utilities and infrastructure companies. The upcoming distributions are scheduled for April 30, May 30, and June 30, 2025.

The Fund operates under a 19b-1 exemption, with distributions potentially sourced from various channels including short-term capital gain, long-term capital gain, and return of capital. The final determination of distribution sources and qualified dividend income percentage will be made after year-end.

DENVER, CO / ACCESS Newswire / April 7, 2025 / Reaves Utility Income Fund (NYSE American:UTG) announced today the next three, monthly, distributions at a rate of $0.19 per common share per month, unchanged from the per share rate paid for the previous quarter. As of April 2, 2025, the Fund's market price was $33.05 per share and its net asset value was $33.01 per share.

Tim Porter, the Fund's co-portfolio manager and Chief Investment Officer of Reaves Asset Management, the Fund's investment adviser, commented, "We remain confident that our portfolio of utility and infrastructure companies will continue to support the Fund's monthly distribution to 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 distributions that have been declared:

Ex-Date: April 17, 2025
Record Date: April 17, 2025
Payable Date: April 30, 2025

Ex-Date: May 19, 2025
Record Date: May 19, 2025
Payable Date: May 30, 2025

Ex-Date: June 17, 2025
Record Date: June 17, 2025
Payable Date: June 30, 2025

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 $3.64 billion of total assets under management and 88.61 million common shares outstanding as of April 2, 2025.

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.

There is no guarantee that distributions will be paid or that the rate will remain the same.

Paralel Distributors LLC, FINRA Member Firm.

SOURCE: Reaves Utility Income Fund

View the original press release on ACCESS Newswire

FAQ

What is the monthly distribution amount for Reaves Utility Income Fund (UTG) in April-June 2025?

UTG will distribute $0.19 per common share monthly, unchanged from the previous quarter.

What are the payment dates for UTG's upcoming distributions in Q2 2025?

The distributions will be paid on April 30, May 30, and June 30, 2025.

How much assets under management does UTG have as of April 2025?

UTG has approximately $3.64 billion in total assets under management.

What is UTG's investment allocation requirement for utility and infrastructure companies?

At least 80% of the Fund's assets must be invested in domestic and foreign utilities and infrastructure companies.

What was UTG's market price and NAV as of April 2, 2025?

UTG's market price was $33.05 per share and its net asset value was $33.01 per share.