BlackRock California Municipal Income Trust (BFZ) to Issue Monthly Dividend of $0.06 on May 1st

BlackRock California Municipal Income Trust (NYSE:BFZ) declared a monthly dividend on Thursday, April 3rd, Wall Street Journal reports. Investors of record on Tuesday, April 15th will be given a dividend of 0.059 per share on Thursday, May 1st. This represents a $0.71 annualized dividend and a yield of 6.37%. The ex-dividend date is Tuesday, April 15th.

BlackRock California Municipal Income Trust has increased its dividend payment by an average of 9.8% per year over the last three years.

BlackRock California Municipal Income Trust Stock Down 0.7 %

Shares of NYSE BFZ opened at $11.12 on Friday. BlackRock California Municipal Income Trust has a 52-week low of $10.84 and a 52-week high of $12.23. The firm’s 50-day moving average price is $11.21 and its 200-day moving average price is $11.51.

Insider Transactions at BlackRock California Municipal Income Trust

In other 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 stock was sold at an average price of $11.36, for a total value of $149,952.00. Following the completion of the sale, the insider now directly owns 4,752,360 shares in the company, valued at $53,986,809.60. This represents a 0.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders have sold a total of 280,937 shares of company stock worth $3,162,753 in the last ninety days.

BlackRock California Municipal Income Trust Company Profile

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.