BlackRock California Municipal Income Trust (NYSE:BFZ) Plans Monthly Dividend of $0.06

BlackRock California Municipal Income Trust (NYSE:BFZ) announced a monthly dividend on Thursday, January 2nd,NASDAQ Dividends reports. Investors of record on Wednesday, January 15th will be paid a dividend of 0.059 per share on Monday, February 3rd. This represents a $0.71 dividend on an annualized basis and a yield of 6.23%. The ex-dividend date is Wednesday, January 15th.

BlackRock California Municipal Income Trust has raised its dividend by an average of 1.4% per year over the last three years.

BlackRock California Municipal Income Trust Trading Down 0.1 %

BFZ stock opened at $11.36 on Friday. BlackRock California Municipal Income Trust has a twelve month low of $11.10 and a twelve month high of $12.23. The firm’s fifty day simple moving average is $11.57 and its two-hundred day simple moving average is $11.85.

Insider Buying and Selling

In related news, major shareholder Saba Capital Management, L.P. sold 30,293 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $11.82, for a total transaction of $358,063.26. Following the completion of the sale, the insider now directly owns 5,200,088 shares of the company’s stock, valued at approximately $61,465,040.16. This trade represents a 0.58 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

About BlackRock California Municipal Income Trust

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.