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

BNY Mellon Municipal Income, Inc. (NYSE:DMF) declared a monthly dividend on Wednesday, November 27th,NASDAQ Dividends reports. Investors of record on Friday, December 13th will be paid a dividend of 0.019 per share on Tuesday, December 31st. This represents a $0.23 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date 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 Stock Up 1.0 %

DMF traded up $0.08 during trading on Thursday, reaching $7.39. 28,433 shares of the company’s stock were exchanged, compared to its average volume of 60,388. The business has a 50 day moving average price of $7.27 and a 200 day moving average price of $7.19. BNY Mellon Municipal Income has a fifty-two week low of $6.16 and a fifty-two week high of $7.49.

Insiders Place Their Bets

In related news, major shareholder Saba Capital Management, L.P. sold 220,866 shares of BNY Mellon Municipal Income 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 completion of the transaction, the insider now directly owns 2,156,152 shares of the company’s stock, valued at $15,869,278.72. This trade represents a 9.29 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.00% of the company’s stock.

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.