Eaton Vance Municipal Incm 2028 Term Tr Announces Monthly Dividend of $0.07 (ETX)
Eaton Vance Municipal Incm 2028 Term Tr (NYSE:ETX) announced a monthly dividend on Tuesday, October 3rd, Wall Street Journal reports. Stockholders of record on Tuesday, October 24th will be paid a dividend of 0.0709 per share by the investment management company on Tuesday, October 31st. This represents a $0.85 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date of this dividend is Monday, October 23rd.
Eaton Vance Municipal Incm 2028 Term Tr has increased its dividend by an average of 19.7% annually over the last three years. Eaton Vance Municipal Incm 2028 Term Tr has a payout ratio of -1,214.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Eaton Vance Municipal Incm 2028 Term Tr to earn ($0.01) per share next year, which means the company may not be able to cover its $0.85 annual dividend with an expected future payout ratio of -8,500.0%.
Eaton Vance Municipal Incm 2028 Term Tr (NYSE:ETX) traded down 0.49% on Tuesday, hitting $20.26. The stock had a trading volume of 32,877 shares. The company has a 50-day moving average price of $20.65 and a 200-day moving average price of $20.37. Eaton Vance Municipal Incm 2028 Term Tr has a 1-year low of $18.64 and a 1-year high of $21.17.
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Eaton Vance Municipal Incm 2028 Term Tr Company Profile
Eaton Vance Municipal Income 2028 Term Trust (the Trust) is a diversified, closed-end management investment company. The Trust’s investment objective is to provide current income exempt from regular federal income tax. The Trust seeks to achieve its investment objective by investing primarily in municipal obligations, a portion of which will be investment grade and a portion of which may be below investment grade at the time of investment.
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