Nuveen Preferred and Income Term Fund (NYSE:JPI) Raises Dividend to $0.17 Per Share

Nuveen Preferred and Income Term Fund (NYSE:JPI) declared a monthly dividend on Monday, August 19th, Wall Street Journal reports. Investors of record on Friday, September 13th will be given a dividend of 0.166 per share on Tuesday, October 1st. This represents a $1.99 annualized dividend and a yield of 10.16%. The ex-dividend date is Friday, September 13th. This is a boost from Nuveen Preferred and Income Term Fund’s previous monthly dividend of $0.10.

Nuveen Preferred and Income Term Fund has decreased its dividend by an average of 8.1% annually over the last three years.

Nuveen Preferred and Income Term Fund Stock Down 0.5 %

Nuveen Preferred and Income Term Fund stock opened at $19.61 on Thursday. The company has a fifty day simple moving average of $19.68 and a 200-day simple moving average of $19.31. Nuveen Preferred and Income Term Fund has a 52-week low of $16.25 and a 52-week high of $19.93.

About Nuveen Preferred and Income Term Fund

Nuveen Preferred and Income Term Fund is a close ended balanced mutual fund launched by Nuveen Investments, Inc The fund is co-managed by Nuveen Fund Advisors LLC and Nuveen Asset Management, LLC. It invests into public equity and fixed income markets across the globe. The fund seeks to invest in stocks of companies that are operating in financial services sectors such as bank, insurance, REITs, and utility companies.