Reaves Utility Income Fund Reports Earnings Results for the Half Year Ended April 30, 2023
July 10, 2023 at 01:17 pm EDT
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Reaves Utility Income Fund reported earnings results for the half year ended April 30, 2023. For the half year, the company reported revenue was USD 47.81 million. Net income was USD 168.62 million.
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 
