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Reaves Utility Income Fund Section 19(a) Notice
Statement Pursuant to Section 19(a) of the Investment Company Act of 1940
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DENVER, May 28, 2021, /PRNewswire/ The Reaves Utility Income Fund (NYSE MKT: UTG) (the Fund ), a closed-end sector fund, paid a monthly distribution on its common stock of $0.18 per share to shareholders of record at the close of business on May 19, 2021.
The following table sets forth the estimated amount of the sources of distribution for purposes of Section 19 of the Investment Company Act of 1940, as amended, and the related rules adopted thereunder. In accordance with generally accepted accounting principles ( GAAP ), the Fund estimates the following percentages, of the total distribution amount per share, attributable to (i) current and prior fiscal year net investment income, (ii) net realized short-term capital gain, (iii) net realized long-term capital gain and (iv) return of capital or oth
Reaves Utility Income Fund Initiation Of Breakpoint Fees
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DENVER, May 11, 2021 /PRNewswire/ The Reaves Utility Income Fund is pleased to announce the initiation of a breakpoint in fees. The advisory and administrative fee on gross assets greater than $2.5 billion will be 0.765%, down from the current rate of 0.84%. The reduction is in line with the Fund s goal of providing a monthly distribution and competitive long-term total returns while being amongst the lowest cost funds in its peer group.
Tim Porter, Chief Investment Officer of Reaves Asset Management and co-Portfolio Manager of the Reaves Utility Income Fund, remarked, Successfully investing the Fund s assets has allowed us to increase the distribution 11 times while never having a return of capital on an annual basis. The breakpoint is another way to reward the owners of the Fund.
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Reaves Utility Income Fund Section 19(a) Notice
Statement Pursuant to Section 19(a) of the Investment Company Act of 1940
News provided by
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DENVER, April 30, 2021 /PRNewswire/ On April 30, 2021, the Reaves Utility Income Fund (NYSE MKT: UTG) (the Fund ), a closed-end sector fund, paid a monthly distribution on its common stock of $0.18 per share to shareholders of record at the close of business on April 23, 2021.
The following table sets forth the estimated amount of the sources of distribution for purposes of Section 19 of the Investment Company Act of 1940, as amended, and the related rules adopted thereunder. In accordance with generally accepted accounting principles ( GAAP ), the Fund estimates the following percentages, of the total distribution amount per share, attributable to (i) current and prior fiscal year net investment income, (ii) net realized short-term capital gain, (iii) net realized long-term capital gain and (iv) re