The Reaves Utility Income Fund Announces Next Three Monthly Distributions, Payable on April 28, 2023, May 31, 2023 and June 30,2023
April 06, 2023 at 09:30 am EDT
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Reaves Utility Income Fund announced today the next three, monthly, distributions 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 4, 2023, the Fund's market price was $28.46 per share and its net asset value was $28.24 per share. The following dates apply to the upcoming distributions that have been declared: Ex-Distribution Date: April 18, 2023, Record Date: April 19,2023 and Payable Date: April 28, 2023.
Ex-Distribution Date: May 17, 2023, Record Date: May 18, 2023 and payable date May 31, 2023. Ex-Distribution Date: June 15, 2023, Record Date: June 16, 2023 and Payable Date: June 30, 2023.
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 
