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

BNY Mellon Municipal Income, Inc. (NYSE:DMF) declared a monthly dividend on Tuesday, April 30th, Wall Street Journal reports. Stockholders of record on Tuesday, May 14th will be paid a dividend of 0.015 per share on Friday, May 31st. This represents a $0.18 annualized dividend and a dividend yield of 2.71%. The ex-dividend date is Monday, May 13th.

BNY Mellon Municipal Income Price Performance

Shares of BNY Mellon Municipal Income stock remained flat at $6.64 during trading hours on Tuesday. The stock had a trading volume of 36,357 shares, compared to its average volume of 53,769. BNY Mellon Municipal Income has a twelve month low of $5.37 and a twelve month high of $6.83. The company’s fifty day simple moving average is $6.68 and its two-hundred day simple moving average is $6.39.

Insider Activity at BNY Mellon Municipal Income

In related news, major shareholder Saba Capital Management, L.P. purchased 44,018 shares of the business’s stock in a transaction on Monday, February 5th. The shares were bought at an average price of $6.53 per share, for a total transaction of $287,437.54. Following the acquisition, the insider now directly owns 2,324,959 shares in the company, valued at $15,181,982.27. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders have bought 66,493 shares of company stock worth $438,875. 1.00% of the stock is currently owned by company insiders.

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.