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

BNY Mellon Municipal Income, Inc. (NYSE:DMF) announced a monthly dividend on Wednesday, November 27th,NASDAQ Dividends reports. Shareholders of record on Friday, December 13th will be given a dividend of 0.019 per share on Tuesday, December 31st. This represents a $0.23 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date of this dividend is Friday, December 13th.

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

BNY Mellon Municipal Income Trading Up 1.0 %

NYSE:DMF traded up $0.08 during trading hours on Thursday, reaching $7.39. The company’s stock had a trading volume of 28,433 shares, compared to its average volume of 60,388. BNY Mellon Municipal Income has a one year low of $6.16 and a one year high of $7.49. The business’s 50-day moving average is $7.27 and its 200-day moving average is $7.19.

Insiders Place Their Bets

In other news, major shareholder Saba Capital Management, L.P. sold 220,866 shares of the business’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $7.36, for a total value of $1,625,573.76. Following the completion of the sale, the insider now directly owns 2,156,152 shares in the company, valued at approximately $15,869,278.72. The trade was a 9.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.00% of the company’s stock.

BNY Mellon Municipal Income Company Profile

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.