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

BNY Mellon Municipal Income, Inc. (NYSE:DMF) declared a monthly dividend on Wednesday, November 27th,NASDAQ Dividends reports. Investors of record on Friday, December 13th will be paid a dividend of 0.019 per share on Tuesday, December 31st. This represents a $0.23 annualized dividend and a yield of 3.09%. The ex-dividend date of this dividend is Friday, December 13th.

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

BNY Mellon Municipal Income Stock Up 1.0 %

Shares of NYSE:DMF traded up $0.08 during trading on Thursday, hitting $7.39. 28,433 shares of the company were exchanged, compared to its average volume of 60,388. BNY Mellon Municipal Income has a 1-year low of $6.16 and a 1-year high of $7.49. The business’s 50 day moving average is $7.27 and its 200-day moving average is $7.19.

Insiders Place Their Bets

In other news, major shareholder Saba Capital Management, L.P. sold 220,866 shares of the stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $7.36, for a total value of $1,625,573.76. Following the completion of the sale, the insider now owns 2,156,152 shares of the company’s stock, valued at approximately $15,869,278.72. This represents a 9.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 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.