The Fund’s investment objective is to provide a high level of after-tax income and total return consisting primarily of tax-advantaged dividend income and capital appreciation. The Fund pursues this objective by investing at least 80% of its total assets in dividend-paying common and preferred stocks and debt instruments of companies within the utility industry. Up to 20% of the Fund may be invested in the securities of companies in other industries.
- Managed to seek tax-advantaged dividend income
- Focused on utilities and other essential infrastructure related companies
- Potential for enhanced yield with the use of leverage
*The Distribution Rate calculation is based on the most current dividend rate per share of 0.19 annualized and divided by the market price of $27.49. The fixed monthly amount distributed per share is subject to change at the discretion of the Fund’s Board of Trustees. Sources of distributions to shareholders may include net investment income, net realized short-term capital gains, net realized long-term capital gains and return of capital. Based on current estimates, we anticipate the current distribution has been paid from a return of capital. The actual amounts and sources of the amounts for tax reporting purposes will depend upon the Fund’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. If a distribution includes anything other than net investment income, the fund provides a Section 19(a) notice of the best estimate of its distribution sources at that time, available at Reaves Utility Income Fund. These estimates may not match the final tax characterization (for the full year’s distributions) contained in shareholders’ 1099-DIV forms after the end of the year. Distribution payments are not guaranteed and dividend rates can vary.
*Inception date of 2/24/2004
The market price of a closed-end fund is based on the market’s value.
Past performance cannot predict future results. Performance will fluctuate with changes in market conditions. Current performance may be lower or higher than the performance data shown. Performance information shown does not reflect the deduction of taxes that shareholders would pay on Fund distributions or the sale of Fund shares. An investment in the Fund involves risk, including loss of principal.
Holdings are subject to change.
*Total Net Assets are defined as the Fund’s total assets minus debt and other liabilities.
According to the Fund’s holding disclosure policy, as approved by the Board of Trustees, the release of the partial holdings information will be delayed at least 15 days.
Note: There can be no guarantee that dividends will be paid or that the rate will remain the same.