BlackRock California Municipal Income Trust (NYSE:BFZ) Plans $0.06 Monthly Dividend

BlackRock California Municipal Income Trust (NYSE:BFZ) announced a monthly dividend on Monday, March 3rd, NASDAQ Dividends reports. Stockholders of record on Friday, March 14th will be given a dividend of 0.059 per share on Tuesday, April 1st. This represents a $0.71 annualized dividend and a dividend yield of 6.26%. The ex-dividend date of this dividend is Friday, March 14th.

BlackRock California Municipal Income Trust has raised its dividend by an average of 9.8% annually over the last three years.

BlackRock California Municipal Income Trust Trading Down 0.6 %

BFZ stock opened at $11.32 on Wednesday. The stock has a fifty day moving average of $11.29 and a 200-day moving average of $11.64. BlackRock California Municipal Income Trust has a fifty-two week low of $11.10 and a fifty-two week high of $12.23.

Insiders Place Their Bets

In related news, major shareholder Saba Capital Management, L.P. sold 13,200 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $11.36, for a total value of $149,952.00. Following the completion of the transaction, the insider now owns 4,752,360 shares of the company’s stock, valued at approximately $53,986,809.60. This represents a 0.28 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders sold a total of 280,937 shares of company stock valued at $3,162,753 in the last quarter.

About BlackRock California Municipal Income Trust

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.