Reaves Utility Income Fund Section 19(a) Notice
Rhea-AI Summary
Reaves Utility Income Fund (NYSE American: UTG) paid a monthly common-stock distribution of $0.20 per share to holders of record as of November 17, 2025. The Fund estimates the distribution composition as 20.21% net investment income, 57.63% net realized long-term capital gain, and 22.16% return of capital. Fiscal year-to-date figures match the current distribution.
Fund performance metrics for the period show an annualized distribution rate of 6.18% on NAV, a cumulative total return on NAV of 27.30%, and a 5-year average annual total return on NAV of 12.78%. Final tax character will be determined in January 2026 and reported on Form 1099-DIV.
Positive
- Monthly distribution of $0.20 per common share
- Long-term capital gain component of 57.63% of distribution
- Annualized distribution rate of 6.18% on NAV
- Five-year average annual total return on NAV of 12.78%
Negative
- Return of capital represents 22.16% of the distribution
- Fund estimates it has distributed more than its income and net realized capital gains
News Market Reaction
On the day this news was published, UTG gained 1.53%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
Peers show mixed, low-magnitude moves, with APAM, HASI and NEA modestly positive (up to 0.24%) while HTGC and DNP are slightly negative, suggesting today’s setup appears more fund-specific than sector-driven.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Nov 28 | Section 19(a) notice | Neutral | +1.5% | Detailed November distribution breakdown and NAV-based performance metrics. |
| Oct 31 | Section 19(a) notice | Neutral | -0.3% | Monthly $0.20 payout with distributions mainly from long-term gains. |
| Oct 07 | Distribution declaration | Neutral | +0.0% | Announced three monthly $0.20 distributions and reported fund size and NAV. |
| Sep 30 | Section 19(a) notice | Neutral | +0.6% | September $0.20 payout with mix of income and long-term gains. |
| Jul 31 | Section 19(a) notice | Neutral | +0.3% | July $0.20 distribution dominated by net realized long-term gains. |
Repeated Section 19(a) and distribution announcements have coincided with modest, mixed price moves, suggesting these updates are largely absorbed as routine information.
Over the last several months, Reaves Utility Income Fund has repeatedly highlighted its regular $0.20 monthly distribution and detailed composition between net investment income, capital gains, and return of capital. Section 19(a) notices in July, September, October, and November 2025 paired with strong NAV-based total returns and solid 5-year averages. The current notice continues this pattern of transparency on distribution sourcing and performance metrics without signaling a change in policy.
Market Pulse Summary
This announcement outlines UTG’s regular $0.20 monthly distribution and clarifies that the payment combines net investment income, long‑term capital gains, and a 22.16% return-of-capital component. NAV-based results show a cumulative total return of 27.30% and a 12.78% 5‑year average annual return, while emphasizing that final tax character will be set on Form 1099‑DIV. Investors may watch future Section 19(a) notices for changes in payout mix or performance.
Key Terms
return of capital financial
net asset value financial
Form 1099-DIV regulatory
Managed Distribution Plan financial
Investment Company Act of 1940 regulatory
AI-generated analysis. Not financial advice.
Statement Pursuant to Section 19(a) of the Investment Company Act of 1940
DENVER, CO / ACCESS Newswire / November 28, 2025 / On November 28, 2025, the Reaves Utility Income Fund (NYSE American:UTG) (the "Fund"), a closed-end sector fund, paid a monthly distribution on its common stock of
The following table sets forth the estimated amount of the sources of distribution for purposes of Section 19 of the Investment Company Act of 1940, as amended, and the related rules adopted thereunder. In accordance with generally accepted accounting principles ("GAAP"), the Fund estimates the following percentages, of the total distribution amount per share, attributable to (i) current and prior fiscal year net investment income, (ii) net realized short-term capital gain, (iii) net realized long-term capital gain and (iv) return of capital or other capital source as a percentage of the total distribution amount. These percentages are disclosed for the current distribution as well as the fiscal year-to-date cumulative distribution amount per share for the Fund.
Current Distribution from: | ||||||||
Per Share ($) | % | |||||||
Net Investment Income | 0.04042 | 20.21 | % | |||||
Net Realized Short-Term Capital Gain | 0.00000 | 0.00 | % | |||||
Net Realized Long-Term Capital Gain | 0.11526 | 57.63 | % | |||||
Return of Capital or other Capital Source | 0.04432 | 22.16 | % | |||||
Total (per common share) | 0.20000 | 100.00 | % | |||||
Fiscal Year-to-Date Cumulative | ||||||||
Distributions from: | ||||||||
Per Share ($) | % | |||||||
Net Investment Income | 0.04042 | 20.21 | % | |||||
Net Realized Short-Term Capital Gain | 0.00000 | 0.00 | % | |||||
Net Realized Long-Term Capital Gain | 0.11526 | 57.63 | % | |||||
Return of Capital or other Capital Source | 0.04432 | 22.16 | % | |||||
Total (per common share) | 0.20000 | 100.00 | % | |||||
The timing and character of distributions for federal income tax purposes are determined in accordance with income tax regulations which may differ from GAAP. As such, all or a portion of this distribution may be reportable as taxable income on your 2025 federal income tax return. The final tax character of any distribution declared in 2025 will be determined in January 2026 and reported to you on IRS Form 1099-DIV.
The amounts and sources of distributions reported in this 19(a) Notice are only estimates and not for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon the Fund's investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes. The Fund estimates that it has distributed more than its income and net realized capital gains; therefore, a portion of your distribution may be a return of capital. A return of capital may occur for example, when some or all of the money that you invested in the Fund is paid back to you. A return of capital distribution does not necessarily reflect the Fund's investment performance and should not be confused with 'yield' or 'income.'
Presented below are return figures, based on the change in the Fund's Net Asset Value per share ("NAV"), compared to the annualized distribution rate for this current distribution as a percentage of the NAV on the last day of the month prior to distribution record date.
Fund Performance & Distribution Information
Fiscal Year to Date (11/01/2024 through 10/31/2025) | |||||
Annualized Distribution Rate as a Percentage of NAV^ | 6.18 | % | |||
Cumulative Distribution Rate on NAV^+ | 0.51 | % | |||
Cumulative Total Return on NAV* | 27.30 | % | |||
Average Annual Total Return on NAV for the 5 Year Period Ended 10/31/2025** | 12.78 | % | |||
^ Based on the Fund's NAV as of October 31, 2025.
+Cumulative distribution rate is based on distributions paid to date for the period November 1, 2025 through
November 30, 2025.
*Cumulative fiscal year-to-date return is based on the change in NAV including distributions paid and assuming reinvestment of these distributions for the period November 1, 2024 through October 31, 2025.
**The 5 year average annual total return is based on change in NAV including distributions paid and assuming reinvestment of these distributions and is through the last business day of the month prior to the month of the current distribution record date.
While the NAV performance may be indicative of the Fund's investment performance, it does not measure the value of a shareholder's investment in the Fund. The value of a shareholder's investment in the Fund is determined by the Fund's market price, which is based on the supply and demand for the Fund's shares in the open market. Past performance does not guarantee future results. Shareholders should not draw any conclusions about the Fund's investment performance from the amount of this distribution or from the terms of the Fund's Managed Distribution Plan.
Furthermore, the Board of Trustees reviews the amount of any potential distribution and the income, capital gain or capital available. The Board of Trustees will continue to monitor the Fund's distribution level, taking into consideration the Fund's net asset value and the financial market environment. The Fund's distribution policy is subject to modification by the Board of Trustees at any time. The distribution rate should not be considered the dividend yield or total return on an investment in the Fund.
Paralel Distributors LLC, FINRA Member Firm.
Contact info:
Website: https://www.utilityincomefund.com
Email: reavesclientinquiries@paralel.com
SOURCE: Reaves Utility Income Fund
View the original press release on ACCESS Newswire
FAQ
What distribution did Reaves Utility Income Fund (UTG) pay on November 28, 2025?
How is the UTG November 2025 distribution composed by source?
Will the UTG November 2025 distribution be taxable for 2025?
What NAV performance metrics did Reaves Utility Income Fund report for the fiscal year-to-date?
Does the UTG distribution include return of capital and what does that mean?
