Monday Is Your Last Chance To Buy Reaves Utility Income Before The Dividend Payout

Monday marks the last chance for investors to receive the next dividend payout from Reaves Utility Income (AMEX:UTG).

What's Happening

The company announced on Thursday that it would pay shareholders a monthly dividend of 19 cents per share. On Tuesday, Reaves Utility Income will go ex-dividend, meaning the stock will trade lower to reflect that payout. In other words, the stock will likely open 19 cents lower than it would have opened on any other day.

In order to be eligible to receive a company's dividend, shareholders must own the stock prior to the ex-dividend date—in this case, Tuesday. Shareholders who own UTG as of the end of Monday's session are eligible to receive the 19 cents dividend payout for every share that they own.

According to the company, this dividend will be paid out to shareholders on April 28, 2023. Investors will then be able to either reinvest those dividends back into the stock or use the payment in some other way.

To keep track of which companies are distributing dividends, click here to visit our Dividends Calendar.