Kayne Anderson MLP Investment Co. Plans Quarterly Dividend of $0.45 (KYN)
Kayne Anderson MLP Investment Co. (NYSE:KYN) declared a quarterly dividend on Monday, December 18th, Wall Street Journal reports. Stockholders of record on Friday, January 5th will be given a dividend of 0.45 per share by the financial services provider on Friday, January 12th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 10.25%. The ex-dividend date is Thursday, January 4th.
Kayne Anderson MLP Investment has decreased its dividend by an average of 1.3% per year over the last three years.
Kayne Anderson MLP Investment (KYN) traded up $0.21 during mid-day trading on Monday, hitting $17.56. The stock had a trading volume of 773,912 shares, compared to its average volume of 481,606. Kayne Anderson MLP Investment has a 52-week low of $14.38 and a 52-week high of $22.15.
A hedge fund recently raised its stake in Kayne Anderson MLP Investment stock. Northern Trust Corp raised its holdings in shares of Kayne Anderson MLP Investment Co. (NYSE:KYN) by 21.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,767 shares of the financial services provider’s stock after acquiring an additional 2,950 shares during the quarter. Northern Trust Corp’s holdings in Kayne Anderson MLP Investment were worth $316,000 as of its most recent SEC filing.
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About Kayne Anderson MLP Investment
Kayne Anderson MLP Investment Company is a non-diversified, closed-end management investment company. The Company’s investment objective is to obtain a high after-tax total return by investing at least 85% of its total assets in energy-related master limited partnerships and their affiliates (MLPs) and in other companies that operate assets used in the gathering, transporting, processing, storing, refining, distributing, mining or marketing of natural gas, natural gas liquids, crude oil, refined petroleum products or coal.
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