Voya Prime Rate Trust (PPR) Increases Dividend to $0.02 Per Share

Voya Prime Rate Trust (NYSE:PPR) announced a monthly dividend on Thursday, February 1st, Wall Street Journal reports. Investors of record on Monday, February 12th will be given a dividend of 0.023 per share by the investment management company on Friday, February 23rd. This represents a $0.28 dividend on an annualized basis and a dividend yield of 5.37%. The ex-dividend date is Friday, February 9th. This is a positive change from Voya Prime Rate Trust’s previous monthly dividend of $0.02.

Voya Prime Rate Trust has decreased its dividend by an average of 5.3% annually over the last three years.

Voya Prime Rate Trust (PPR) traded up $0.03 on Thursday, hitting $5.14. The company had a trading volume of 345,198 shares, compared to its average volume of 463,645. Voya Prime Rate Trust has a fifty-two week low of $4.97 and a fifty-two week high of $5.62.

Separately, AltaCorp Capital reaffirmed a “buy” rating and set a $0.60 price objective on shares of Voya Prime Rate Trust in a research note on Monday, January 15th.

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About Voya Prime Rate Trust

Voya Prime Rate Trust (the Trust) is a diversified, closed-end management investment company. The Trust seeks to provide investors with as high a level of current income as is consistent with the preservation of capital. The Trust seeks to achieve this objective by investing, under normal market conditions, approximately 80% of its net assets, plus borrowings for investment purposes, in United States dollar denominated floating rate secured senior loans.

Dividend History for Voya Prime Rate Trust (NYSE:PPR)

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