Reaves Utility Income Fund Declares Next Three, Monthly, Dividends Payable on January 14, 2022, February 28, 2022, March 31, 2022 Respectively
December 17, 2021 at 09:00 am EST
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The Reaves Utility Income Fund announced the next three, monthly, dividends at a rate of $0.19 per common share per month, unchanged from the per share rate paid for the previous quarter. As of December 14, 2021, the Fund's market price was $33.79 per share and its net asset value was $33.62 per share. The following dates apply to the upcoming dividends that have been declared: Ex-Distribution Date is December 30, 2021, Record Date: December 31, 2021, Payable Date: January 14, 2022. Ex-Distribution Date: February 17, 2022, Record Date: February 18, 2022, Payable Date: February 28, 2022. Ex-Distribution Date: March 17, 2022, Record Date: March 18, 2022, Payable Date: March 31, 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 
