Reaves Utility Income Fund announces regular monthly dividend of $ 0.19 per share


DENVER, October 7, 2021 / PRNewswire / – The Reaves Utility Income Fund (NYSE MKT: UTG) today announced the next three monthly dividends at a rate of $ 0.19 per common share per month, unchanged from the rate per share paid in the previous quarter. From October 4, 2021, the Fund’s market price was $ 32.71 per share and its net asset value was $ 32.36 per share.

Tim porter, Portfolio Manager of the Fund and Chief Investment Officer of Reaves Asset Management, the Fund’s investment advisor, said: “High quality utilities and communications companies continue to pay steady and growing income streams to shareholders of the Fund. Funds. We remain optimistic about their prospects.

The Fund officially implemented the 19b-1 exemption received from the Securities and Exchange Commission in 2009. A portion of each distribution may be deemed to be paid from sources other than net income, including, but not limited to, short-term capital gains , long-term capital gains and return of capital. The final determination of the source of such distributions, including the percentage of eligible dividend income, will be made after the end of the fiscal year of the Fund.

At least eighty percent of the Fund’s assets will continue to be invested in securities of domestic and foreign companies involved to a large extent in the provision of products, services or equipment for (i) the production or distribution of electricity , gas or water, (ii) telecommunications activities or (iii) infrastructure operations, such as airports, toll roads and municipal services (“Utilities” or “Utility Industry”). As a policy, the Fund continues to strive to provide a high level of after-tax income and total return comprised primarily of tax-advantaged distributions and capital appreciation.

The following dates apply to future dividends that have been declared:

Distribution release date: October 19, 2021
Registration Date : 20 October 2021
Payment date : October 29, 2021

Distribution release date: November 16, 2021
Registration Date : November 17, 2021
Payment date : November 30, 2021

Distribution release date: December 16, 2021
Registration Date : December 17, 2021
Payment date : December 30, 2021

Reaves Utility Income Fund
The investment objective of the Fund is to provide a high level of income and total return consisting primarily of tax efficient distributions and capital appreciation. There was about $ 2.5 billion of total assets under management and 63.9 million ordinary shares outstanding at October 4, 2021.

An investor should carefully consider the investment objectives, risks, fees and expenses before investing. For an annual or semi-annual report containing this and other information, visit www.utility or dial 1-800-644-5571. Read them carefully before investing.

ALPS Portfolio Solutions Distributor, Inc., a member firm of FINRA.

REA000511 07/10/2022

SOURCE Reaves Utility Income Fund

Related links

http: //www.utility

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