BlackRock California Municipal Income Trust (NYSE:BFZ) Plans Monthly Dividend of $0.06

BlackRock California Municipal Income Trust (NYSE:BFZ) announced a monthly dividend on Monday, March 3rd, NASDAQ Dividends reports. Investors of record on Friday, March 14th will be paid a dividend of 0.059 per share on Tuesday, April 1st. This represents a $0.71 annualized dividend and a yield of 6.30%. The ex-dividend date is Friday, March 14th.

BlackRock California Municipal Income Trust has increased its dividend by an average of 9.8% per year over the last three years.

BlackRock California Municipal Income Trust Stock Performance

NYSE BFZ traded up $0.03 during trading on Wednesday, hitting $11.23. The company’s stock had a trading volume of 5,468 shares, compared to its average volume of 78,296. BlackRock California Municipal Income Trust has a 52 week low of $11.10 and a 52 week high of $12.23. The firm has a 50 day moving average price of $11.30 and a 200 day moving average price of $11.62.

Insider Buying and Selling

In related news, major shareholder Saba Capital Management, L.P. sold 103,231 shares of the business’s stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $11.17, for a total transaction of $1,153,090.27. Following the transaction, the insider now directly owns 5,026,079 shares in the company, valued at $56,141,302.43. The trade was a 2.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Over the last quarter, insiders have sold 280,937 shares of company stock valued at $3,162,753.

About BlackRock California Municipal Income Trust

BlackRock California Municipal Income Trust is a closed ended fixed income mutual fund launched by BlackRock, Inc It is managed by BlackRock Advisors, LLC. The fund invests in fixed income markets. It invests primarily in investment grade municipal bonds that are exempt from regular federal and California income taxes.