The Reaves Utility Income Fund Announces Monthly Distribution, Payable on August 31, 2021 and September 30, 2021
June 21, 2021 at 06:30 am
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The Reaves Utility Income Fund announced annual distribution to be paid monthly at the rate of $0.19 per common share. The following dates apply to the upcoming dividends that have been declared: Ex-Distribution Date: August 19, 2021; Record Date: August 20, 2021, Payable Date: August 31, 2021; Ex-Distribution Date: September 16, 2021, Record Date: September 17, 2021, Payable Date: September 30, 2021.
Reaves Utility Income Fund (the Fund) is a diversified, closed-end management investment company. The Fund's investment objective is to provide a high level of after-tax income and total return consisting primarily of tax-advantaged dividend income and capital appreciation. Under normal market conditions, the Fund invests at least 80% of its total assets in dividend-paying common and preferred stocks of companies in the utility industry. The Fund pursues its investment objective by investing at least 80% of its total assets in the securities of domestic and foreign companies involved to a significant extent in providing products, services or equipment for the generation or distribution of electricity, gas or water; telecommunications activities, and infrastructure operations, such as airports, toll roads and municipal services. The Fund may invest in preferred stocks and bonds of below investment grade quality (junk bonds). The Fund's investment adviser is W.H. Reaves & Co. Inc.
REAVES UTILITY INCOME FUND 