BlackRock California Municipal Income Trust (NYSE:BFZ) to Issue $0.05 Monthly Dividend

Posted by Eileen French on May 3rd, 2024

BlackRock California Municipal Income Trust (NYSE:BFZ – Get Free Report) announced a monthly dividend on Wednesday, May 1st, Zacks reports. Stockholders of record on Wednesday, May 15th will be paid a dividend of 0.051 per share on Monday, June 3rd. This represents a $0.61 dividend on an annualized basis and a dividend yield of 5.23%. The ex-dividend date of this dividend is Tuesday, May 14th.

BlackRock California Municipal Income Trust has increased its dividend by an average of 1.4% annually over the last three years.

BlackRock California Municipal Income Trust Stock Performance

BFZ stock traded up $0.08 during midday trading on Friday, reaching $11.70. The stock had a trading volume of 65,986 shares, compared to its average volume of 55,480. The firm has a fifty day simple moving average of $11.74 and a two-hundred day simple moving average of $11.45. BlackRock California Municipal Income Trust has a 52-week low of $9.86 and a 52-week high of $12.31.

Insider Transactions at BlackRock California Municipal Income Trust

In other BlackRock California Municipal Income Trust news, major shareholder Saba Capital Management, L.P. bought 14,317 shares of BlackRock California Municipal Income Trust stock in a transaction that occurred on Thursday, March 21st. The stock was purchased at an average price of $11.68 per share, with a total value of $167,222.56. Following the completion of the acquisition, the insider now directly owns 5,144,048 shares in the company, valued at approximately $60,082,480.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders bought a total of 119,997 shares of company stock worth $1,419,446 over the last three months.

BlackRock California Municipal Income Trust Company Profile

(Get Free Report)

BlackRock California Municipal Income Trust is a closed ended fixed income mutual fund launched by BlackRock, Inc It is managed by BlackRock Advisors, LLC. The fund invests in fixed income markets. It invests primarily in investment grade municipal bonds that are exempt from regular federal and California income taxes.