BlackRock California Municipal Income Trust (BFZ) To Go Ex-Dividend on March 14th

BlackRock California Municipal Income Trust (NYSE:BFZ) declared a monthly dividend on Monday, March 3rd, NASDAQ Dividends reports. Shareholders of record on Friday, March 14th will be given a dividend of 0.059 per share on Tuesday, April 1st. This represents a $0.71 annualized dividend and a yield of 6.30%. The ex-dividend date is Friday, March 14th.

BlackRock California Municipal Income Trust has increased its dividend by an average of 9.8% per year over the last three years.

BlackRock California Municipal Income Trust Price Performance

Shares of NYSE:BFZ traded up $0.03 on Wednesday, reaching $11.23. The company had a trading volume of 5,468 shares, compared to its average volume of 78,296. The stock has a 50-day moving average price of $11.30 and a 200 day moving average price of $11.62. BlackRock California Municipal Income Trust has a twelve month low of $11.10 and a twelve month high of $12.23.

Insider Activity at BlackRock California Municipal Income Trust

In related news, major shareholder Saba Capital Management, L.P. sold 31,198 shares of the company’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $11.24, for a total transaction of $350,665.52. Following the completion of the sale, the insider now directly owns 5,129,310 shares of the company’s stock, valued at approximately $57,653,444.40. This represents a 0.60 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders have sold 280,937 shares of company stock valued at $3,162,753.

About BlackRock California Municipal Income Trust

BlackRock California Municipal Income Trust is a closed ended fixed income mutual fund launched by BlackRock, Inc It is managed by BlackRock Advisors, LLC. The fund invests in fixed income markets. It invests primarily in investment grade municipal bonds that are exempt from regular federal and California income taxes.