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

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

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 Down 1.0 %

Shares of BNY Mellon Municipal Income stock traded down $0.07 on Friday, hitting $7.20. The company had a trading volume of 32,490 shares, compared to its average volume of 62,447. The business has a 50-day simple moving average of $7.31 and a 200-day simple moving average of $7.11. BNY Mellon Municipal Income has a 52 week low of $5.55 and a 52 week high of $7.49.

Insider Activity

In related news, major shareholder Saba Capital Management, L.P. sold 220,866 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the insider now directly owns 2,156,152 shares in the company, valued at approximately $15,869,278.72. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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.