Wells Fargo Multi-Sector Income Fund (NYSE:ERC) announced a monthly dividend on Tuesday, October 31st, Wall Street Journal reports. Stockholders of record on Wednesday, November 15th will be paid a dividend of 0.1077 per share by the closed-end fund on Friday, December 1st. This represents a $1.29 annualized dividend and a dividend yield of 9.91%. The ex-dividend date is Tuesday, November 14th. This is a boost from Wells Fargo Multi-Sector Income Fund’s previous monthly dividend of $0.11.
Wells Fargo Multi-Sector Income Fund has decreased its dividend payment by an average of 1.9% per year over the last three years.
Shares of Wells Fargo Multi-Sector Income Fund (NYSE ERC) opened at $13.05 on Monday. Wells Fargo Multi-Sector Income Fund has a twelve month low of $11.79 and a twelve month high of $13.65.
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About Wells Fargo Multi-Sector Income Fund
Wells Fargo Multi-Sector Income Fund (the Fund) is a diversified, closed-end management investment company. The Fund’s investment objective is to seek a high level of current income consistent with limiting its overall exposure to domestic interest rate risk. The Fund’s portfolio includes agency securities, asset-backed securities, common stocks, corporate bonds and notes, foreign corporate bonds and notes, foreign government bonds, loans, municipal obligations, non-agency mortgage-backed securities and short-term investments.
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