Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) Declares Dividend Increase – $0.05 Per Share

Posted by Dee Baugher on Feb 21st, 2025

Western Asset Investment Grade Income Fund Inc. (NYSE:PAI – Get Free Report) declared a monthly dividend on Thursday, February 20th, Wall Street Journal reports. Stockholders of record on Thursday, May 22nd will be given a dividend of 0.0525 per share by the financial services provider on Monday, June 2nd. This represents a $0.63 annualized dividend and a dividend yield of 4.98%. The ex-dividend date is Thursday, May 22nd. This is an increase from Western Asset Investment Grade Income Fund’s previous monthly dividend of $0.05.

Western Asset Investment Grade Income Fund has raised its dividend payment by an average of 2.9% per year over the last three years.

Western Asset Investment Grade Income Fund Trading Up 0.5 %

PAI stock opened at $12.66 on Friday. Western Asset Investment Grade Income Fund has a fifty-two week low of $11.65 and a fifty-two week high of $13.18. The stock has a fifty day moving average of $12.48 and a 200-day moving average of $12.59.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Western Asset Investment Grade Income Fund stock. Bank of America Corp DE lifted its position in shares of Western Asset Investment Grade Income Fund Inc. (NYSE:PAI – Free Report) by 35.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 8,694 shares of the financial services provider’s stock after acquiring an additional 2,267 shares during the quarter. Bank of America Corp DE owned approximately 0.09% of Western Asset Investment Grade Income Fund worth $109,000 at the end of the most recent quarter. Institutional investors own 18.99% of the company’s stock.

About Western Asset Investment Grade Income Fund

(Get Free Report)

Western Asset Income Fund is a closed-ended fixed income mutual fund launched and managed by Western Asset Management Company. It is co-managed by Western Asset Management Company Limited. The fund invests in the fixed income markets of the United States. It primarily invests in investment grade debt, including government securities, bank debt, commercial paper, and cash or cash equivalents.