BlackRock MuniYield Michigan Quality Fund, Inc. (MIY) to Issue Monthly Dividend of $0.05 on November 1st

BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY) announced a monthly dividend on Thursday, September 12th, NASDAQ reports. Shareholders of record on Tuesday, October 15th will be given a dividend of 0.0545 per share by the financial services provider on Friday, November 1st. This represents a $0.65 dividend on an annualized basis and a yield of 5.49%. The ex-dividend date is Tuesday, October 15th. This is a boost from BlackRock MuniYield Michigan Quality Fund’s previous monthly dividend of $0.05.

BlackRock MuniYield Michigan Quality Fund has decreased its dividend by an average of 10.8% annually over the last three years.

BlackRock MuniYield Michigan Quality Fund Stock Performance

Shares of NYSE:MIY traded up $0.01 during trading on Friday, hitting $11.91. 17,324 shares of the company’s stock were exchanged, compared to its average volume of 51,104. The business’s 50-day simple moving average is $11.84 and its 200 day simple moving average is $11.52. BlackRock MuniYield Michigan Quality Fund has a 52-week low of $9.45 and a 52-week high of $12.11.

About BlackRock MuniYield Michigan Quality Fund

BlackRock MuniYield Michigan Quality Fund, Inc is a closed-ended fixed income mutual fund launched by BlackRock, Inc It is managed by BlackRock Advisors, LLC. The fund invests in the fixed income markets of the United States. It primarily invests in investment grade, long-term municipal obligations exempt from federal income taxes and Michigan income taxes.