BNY Mellon Municipal Income, Inc. (NYSE:DMF) Announces Monthly Dividend of $0.02

BNY Mellon Municipal Income, Inc. (NYSE:DMF) announced a monthly dividend on Thursday, May 9th, Wall Street Journal reports. Investors of record on Friday, June 14th will be paid a dividend of 0.019 per share on Friday, June 28th. This represents a $0.23 annualized dividend and a yield of 3.32%. The ex-dividend date of this dividend is Friday, June 14th. This is a positive change from BNY Mellon Municipal Income’s previous monthly dividend of $0.02.

BNY Mellon Municipal Income has decreased its dividend payment by an average of 18.1% annually over the last three years.

BNY Mellon Municipal Income Stock Up 0.3 %

BNY Mellon Municipal Income stock traded up $0.02 during midday trading on Thursday, reaching $6.87. 38,036 shares of the company traded hands, compared to its average volume of 53,947. BNY Mellon Municipal Income has a 12 month low of $5.37 and a 12 month high of $6.87. The business has a 50 day moving average of $6.69 and a two-hundred day moving average of $6.45.

Insiders Place Their Bets

In other news, major shareholder Saba Capital Management, L.P. acquired 20,410 shares of the company’s stock in a transaction on Tuesday, March 19th. The stock was bought at an average cost of $6.75 per share, with a total value of $137,767.50. Following the completion of the purchase, the insider now directly owns 2,377,018 shares of the company’s stock, valued at $16,044,871.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.00% of the company’s stock.

About BNY Mellon Municipal Income

BNY Mellon Municipal Income, Inc is a closed ended fixed income mutual fund launched and managed by BNY Mellon Investment Adviser, Inc It invests in the fixed income markets of the United States. The fund primarily invests in municipal obligations that are rated investment grade and have maturities of less than one year.