Eaton Vance Municipal Incm 2028 Term Tr (NYSE:ETX) declared a monthly dividend on Monday, December 4th, Wall Street Journal reports. Shareholders of record on Friday, December 22nd will be given a dividend of 0.0709 per share by the investment management company on Friday, December 29th. This represents a $0.85 annualized dividend and a yield of 4.24%. The ex-dividend date of this dividend is Thursday, December 21st.
Eaton Vance Municipal Incm 2028 Term Tr has raised its dividend payment by an average of 19.7% per year 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.
Eaton Vance Municipal Incm 2028 Term Tr (NYSE:ETX) traded up $0.06 during midday trading on Monday, reaching $20.05. 18,217 shares of the company’s stock traded hands, compared to its average volume of 25,653. Eaton Vance Municipal Incm 2028 Term Tr has a 52 week low of $18.69 and a 52 week high of $21.17.
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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