Salient Midstream & MLP Fund (NYSE:SMM) to Issue $0.24 Quarterly Dividend
Salient Midstream & MLP Fund (NYSE:SMM) declared a quarterly dividend on Tuesday, August 8th, Wall Street Journal reports. Shareholders of record on Friday, August 18th will be given a dividend of 0.244 per share by the investment management company on Thursday, August 31st. This represents a $0.98 dividend on an annualized basis and a yield of 8.71%. The ex-dividend date is Wednesday, August 16th.
Salient Midstream & MLP Fund has decreased its dividend by an average of 5.9% annually over the last three years.
Salient Midstream & MLP Fund (NYSE:SMM) traded down 3.28% during trading on Tuesday, reaching $11.21. 101,908 shares of the company were exchanged. Salient Midstream & MLP Fund has a 12 month low of $10.53 and a 12 month high of $14.32. The stock has a 50 day moving average price of $11.60 and a 200 day moving average price of $12.75.
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About Salient Midstream & MLP Fund
Salient Midstream & MLP Fund (the Fund) is a non-diversified, closed-end management investment company. The Fund’s investment objective is to provide a high level of total return with an emphasis on making quarterly cash distributions to its common shareholders. The Fund seeks to achieve its investment objective by investing at least 80% of its total assets in securities of midstream companies and master limited partnerships (MLPs).
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