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

BNY Mellon Municipal Income, Inc. (NYSE:DMF) declared a monthly dividend on Wednesday, October 30th, Wall Street Journal reports. Shareholders of record on Friday, November 15th will be paid a dividend of 0.019 per share on Monday, December 2nd. This represents a $0.23 annualized dividend and a yield of 3.17%. The ex-dividend date is Friday, November 15th.

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

BNY Mellon Municipal Income Price Performance

Shares of NYSE DMF traded down $0.07 during midday trading on Friday, hitting $7.20. 32,490 shares of the company’s stock traded hands, compared to its average volume of 62,447. The firm has a fifty day moving average of $7.31 and a 200 day moving average of $7.11. BNY Mellon Municipal Income has a 1 year low of $5.55 and a 1 year high of $7.49.

Insider Buying and Selling at BNY Mellon Municipal Income

In related news, major shareholder Saba Capital Management, L.P. sold 220,866 shares of BNY Mellon Municipal Income stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $7.36, for a total transaction of $1,625,573.76. Following the transaction, the insider now directly owns 2,156,152 shares in the company, valued at approximately $15,869,278.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.00% of the stock is owned by corporate insiders.

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.