Reaves Utility Income Fund Announces Regular Monthly Dividend, Payable on January 16, 2020, February 28, 2020, March 31, 2020 Respectively
December 18, 2019 at 09:00 am EST
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The Reaves Utility Income Fund announced the next three monthly dividends at a rate of $0.18 per common share per month, unchanged from the per share rate paid for the previous quarter. Payable on January 16, 2020, February 28, 2020, March 31, 2020 to the share holders record on December 31, 2019, February 14, 2020, March 20, 2020, with ex-distribution date of December 30, 2019, February 13, 2020, and March 19, 2020 respectively.
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 
