First Trust Mortgage Income Fund (NYSE:FMY) Plans Monthly Dividend of $0.08

First Trust Mortgage Income Fund (NYSE:FMY) announced a monthly dividend on Friday, March 21st, Wall Street Journal reports. Investors of record on Tuesday, April 1st will be paid a dividend of 0.075 per share on Tuesday, April 15th. This represents a $0.90 dividend on an annualized basis and a yield of 7.40%. The ex-dividend date is Tuesday, April 1st.

First Trust Mortgage Income Fund has increased its dividend by an average of 39.3% per year over the last three years.

First Trust Mortgage Income Fund Stock Up 0.2 %

FMY stock traded up $0.03 during midday trading on Friday, hitting $12.16. The stock had a trading volume of 4,015 shares, compared to its average volume of 7,515. The company’s 50-day moving average price is $12.02 and its 200 day moving average price is $12.11. First Trust Mortgage Income Fund has a 12-month low of $11.48 and a 12-month high of $12.72.

About First Trust Mortgage Income Fund

First Trust Mortgage Income Fund is a closed-ended fixed income mutual fund launched and managed by First Trust Advisors L.P. It is co-managed by Brookfield Investment Management Inc The fund invests in fixed income markets. It seeks to invest in fixed income securities including mortgage-backed securities, consisting of pass-through certificates, collateralized mortgage obligations, residential mortgage-backed securities, and commercial mortgage-backed securities.