BNY Mellon Municipal Income, Inc. Declares Monthly Dividend of $0.02 (NYSE:DMF)

BNY Mellon Municipal Income, Inc. (NYSE:DMF) announced a monthly dividend on Friday, November 1st, Wall Street Journal reports. Stockholders of record on Friday, November 15th will be paid a dividend of 0.019 per share on Monday, December 2nd. This represents a $0.23 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date is Friday, November 15th.

BNY Mellon Municipal Income has decreased its dividend by an average of 18.1% annually over the last three years.

BNY Mellon Municipal Income Price Performance

DMF traded down $0.07 on Friday, hitting $7.20. 32,490 shares of the company’s stock were exchanged, compared to its average volume of 62,447. BNY Mellon Municipal Income has a twelve month low of $5.55 and a twelve month high of $7.49. The stock has a fifty day moving average of $7.31 and a two-hundred day moving average of $7.11.

Insider Buying and Selling

In related news, major shareholder Saba Capital Management, L.P. sold 220,866 shares of the stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $7.36, for a total transaction of $1,625,573.76. Following the sale, the insider now owns 2,156,152 shares in the company, valued at $15,869,278.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.00% of the stock is owned by company insiders.

About BNY Mellon Municipal Income

BNY Mellon Municipal Income, Inc is a closed ended fixed income mutual fund launched and managed by BNY Mellon Investment Adviser, Inc It invests in the fixed income markets of the United States. The fund primarily invests in municipal obligations that are rated investment grade and have maturities of less than one year.