Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) Plans Dividend Increase – $0.05 Per Share

Posted by Danessa Lincoln on Feb 21st, 2025

Western Asset Investment Grade Income Fund Inc. (NYSE:PAI – Get Free Report) declared a monthly dividend on Thursday, February 20th, Wall Street Journal reports. Shareholders of record on Thursday, May 22nd will be given a dividend of 0.0525 per share by the financial services provider on Monday, June 2nd. This represents a $0.63 dividend on an annualized basis and a dividend yield of 4.98%. The ex-dividend date is Thursday, May 22nd. This is a boost from Western Asset Investment Grade Income Fund’s previous monthly dividend of $0.05.

Western Asset Investment Grade Income Fund has raised its dividend by an average of 2.9% per year over the last three years.

Western Asset Investment Grade Income Fund Stock Performance

Western Asset Investment Grade Income Fund stock opened at $12.66 on Friday. Western Asset Investment Grade Income Fund has a 52-week low of $11.65 and a 52-week high of $13.18. The stock’s 50 day moving average price is $12.48 and its two-hundred day moving average price is $12.59.

Hedge Funds Weigh In On Western Asset Investment Grade Income Fund

A hedge fund recently raised its stake in Western Asset Investment Grade Income Fund stock. Bank of America Corp DE boosted its stake in Western Asset Investment Grade Income Fund Inc. (NYSE:PAI – Free Report) by 35.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,694 shares of the financial services provider’s stock after buying an additional 2,267 shares during the quarter. Bank of America Corp DE owned approximately 0.09% of Western Asset Investment Grade Income Fund worth $109,000 as of its most recent SEC filing. 18.99% of the stock is currently owned by institutional investors and hedge funds.

About Western Asset Investment Grade Income Fund

(Get Free Report)

Western Asset Income Fund is a closed-ended fixed income mutual fund launched and managed by Western Asset Management Company. It is co-managed by Western Asset Management Company Limited. The fund invests in the fixed income markets of the United States. It primarily invests in investment grade debt, including government securities, bank debt, commercial paper, and cash or cash equivalents.