Putnam Managed (NYSE:PMM – Get Free Report) announced a monthly dividend on Thursday, May 14th. Shareholders of record on Tuesday, June 23rd will be given a dividend of 0.033 per share on Tuesday, June 30th. This represents a c) dividend on an annualized basis and a dividend yield of 6.2%. The ex-dividend date is Tuesday, June 23rd. This is a 24.5% increase from Putnam Managed’s previous monthly dividend of $0.03.
Putnam Managed Trading Down 0.1%
Shares of Putnam Managed stock opened at $6.36 on Friday. Putnam Managed has a 52 week low of $5.77 and a 52 week high of $6.52. The company’s 50-day moving average price is $6.24 and its two-hundred day moving average price is $6.24.
About Putnam Managed
Putnam Managed Municipal Income Trust (NYSE: PMM) is a closed-end management investment company that seeks to provide current income exempt from federal income tax. The trust’s primary business activity is the active management of a diversified portfolio of investment-grade municipal securities, including general obligation and revenue bonds issued by U.S. states and municipalities. Using a flexible approach, PMM’s portfolio managers may also invest in below-investment-grade or unrated municipal securities, subject to quality restrictions, to enhance yield potential.
Established in September 1993, PMM has a long history of targeting tax-exempt income for its shareholders.
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