Reaves Utility Income Fund Declares Next Three, Monthly, Dividends Payable on April 29, 2022, May 31, 2022, June 30, 2022 Respectively
April 11, 2022 at 09:30 am EDT
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The Reaves Utility Income Fund announced the next three, monthly, dividends 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 6, 2022, the Fund's market price was $34.54 per share and its net asset value was $35.83 per share. The following dates apply to the upcoming dividends that have been declared: Ex-Distribution Date is April 21, 2022, Record Date: April 22, 2022, Payable Date: April 29, 2022.
Ex-Distribution Date: May 18, 2022, Record Date: May 19, 2022, Payable Date: May 31, 2022. Ex-Distribution Date: June 16, 2022, Record Date: June 17, 2022, Payable Date: June 30, 2022.
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 
