BlackRock California Municipal Income Trust (NYSE:BFZ) to Issue $0.06 Monthly Dividend

BlackRock California Municipal Income Trust (NYSE:BFZ) declared a monthly dividend on Friday, November 1st,NASDAQ Dividends reports. Shareholders of record on Friday, November 15th will be given a dividend of 0.059 per share on Monday, December 2nd. This represents a $0.71 dividend on an annualized basis and a dividend yield of 6.10%. The ex-dividend date of this dividend is Friday, November 15th.

BlackRock California Municipal Income Trust has increased its dividend payment by an average of 1.4% annually over the last three years.

BlackRock California Municipal Income Trust Stock Down 0.7 %

Shares of BFZ stock traded down $0.08 during midday trading on Wednesday, reaching $11.61. 180,862 shares of the stock were exchanged, compared to its average volume of 71,015. BlackRock California Municipal Income Trust has a 1 year low of $10.70 and a 1 year high of $12.31. The company’s 50 day moving average is $11.98 and its two-hundred day moving average is $11.91.

Insiders Place Their Bets

In related news, major shareholder Saba Capital Management, L.P. sold 6,313 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $11.89, for a total value of $75,061.57. Following the sale, the insider now owns 5,233,255 shares in the company, valued at $62,223,401.95. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

BlackRock California Municipal Income Trust Company Profile

BlackRock California Municipal Income Trust is a closed ended fixed income mutual fund launched by BlackRock, Inc It is managed by BlackRock Advisors, LLC. The fund invests in fixed income markets. It invests primarily in investment grade municipal bonds that are exempt from regular federal and California income taxes.