BlackRock California Municipal Income Trust (NYSE:BFZ) Plans Monthly Dividend of $0.06

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 paid a dividend of 0.059 per share on Tuesday, April 1st. This represents a $0.71 annualized dividend and a yield of 6.26%. The ex-dividend date of this dividend is Friday, March 14th.

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

BlackRock California Municipal Income Trust Stock Performance

BFZ stock traded down $0.07 during midday trading on Tuesday, hitting $11.32. The company’s stock had a trading volume of 82,248 shares, compared to its average volume of 86,200. The firm has a 50-day simple moving average of $11.29 and a 200-day simple moving average of $11.64. BlackRock California Municipal Income Trust has a 52-week low of $11.10 and a 52-week high of $12.23.

Insider Transactions at BlackRock California Municipal Income Trust

In other news, major shareholder Saba Capital Management, L.P. sold 103,231 shares of BlackRock California Municipal Income Trust stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $11.17, for a total transaction of $1,153,090.27. Following the completion of the sale, the insider now directly owns 5,026,079 shares of the company’s stock, valued at approximately $56,141,302.43. The trade was a 2.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders 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.