BNY Mellon Municipal Income, Inc. (NYSE:DMF) to Issue Dividend Increase – $0.08 Per Share

BNY Mellon Municipal Income, Inc. (NYSE:DMF) declared a monthly dividend on Tuesday, May 27th, Wall Street Journal reports. Shareholders of record on Monday, June 9th will be given a dividend of 0.078 per share on Monday, June 16th. This represents a $0.94 dividend on an annualized basis and a yield of 13.48%. The ex-dividend date is Monday, June 9th. This is a 310.5% increase from BNY Mellon Municipal Income’s previous monthly dividend of $0.02.

BNY Mellon Municipal Income has decreased its dividend by an average of 16.7% annually over the last three years.

BNY Mellon Municipal Income Price Performance

Shares of DMF stock traded up $0.03 during trading hours on Tuesday, reaching $6.95. The company’s stock had a trading volume of 60,387 shares, compared to its average volume of 49,224. BNY Mellon Municipal Income has a one year low of $6.72 and a one year high of $7.52. The firm’s fifty day simple moving average is $7.03 and its 200 day simple moving average is $7.14.

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.