Reaves Utility Income Fund Declares Next Three, Monthly, Dividends Payable on July 29, 2022, August 31, 2022, September 30, 2022 Respectively
July 11, 2022 at 09:30 am EDT
Share
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 July 6, 2022, the Fund's market price was $30.92 per share and its net asset value was $30.93 per share. The following dates apply to the upcoming dividends that have been declared: Ex-Distribution Date: July 21, 2022, Record Date: July 22, 2022, Payable Date: July 29, 2022, Ex-Distribution Date: August 18, 2022, Record Date: August 19, 2022, Payable Date: August 31, 2022, Ex-Distribution Date: September 19, 2022, Record Date: September 20, 2022, Payable Date: September 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 
