Nuveen Floating Rate Income Fund (NYSE:JFR) announced a monthly dividend on Wednesday, January 3rd, Wall Street Journal reports. Investors of record on Friday, January 12th will be given a dividend of 0.0675 per share on Thursday, February 1st. This represents a $0.81 annualized dividend and a yield of 7.17%. The ex-dividend date of this dividend is Thursday, January 11th.
Nuveen Floating Rate Income Fund has increased its dividend by an average of 3.6% annually over the last three years.
Nuveen Floating Rate Income Fund (NYSE:JFR) traded up $0.09 on Wednesday, hitting $11.29. 149,448 shares of the stock traded hands, compared to its average volume of 188,200. Nuveen Floating Rate Income Fund has a one year low of $10.66 and a one year high of $12.34.
Nuveen Floating Rate Income Fund is a diversified, closed-end management investment company. The Fund’s investment objective is to achieve a high level of current income. It invests approximately 80% of managed assets in adjustable rate loans, primarily secured senior loans. The Fund also may invest in unsecured senior loans and secured and unsecured subordinated loans.
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