Western Asset Intermediate Muni Fund Inc. Plans Monthly Dividend of $0.04 (NYSE:SBI)

Western Asset Intermediate Muni Fund Inc. (NYSE:SBI) announced a monthly dividend on Thursday, February 20th, Wall Street Journal reports. Shareholders of record on Thursday, May 22nd will be given a dividend of 0.042 per share on Monday, June 2nd. This represents a $0.50 annualized dividend and a yield of 6.67%. The ex-dividend date is Thursday, May 22nd.

Western Asset Intermediate Muni Fund has raised its dividend payment by an average of 8.1% annually over the last three years.

Western Asset Intermediate Muni Fund Stock Performance

Shares of Western Asset Intermediate Muni Fund stock opened at $7.56 on Tuesday. The stock’s 50 day simple moving average is $7.61 and its 200-day simple moving average is $7.81. Western Asset Intermediate Muni Fund has a 1-year low of $7.30 and a 1-year high of $8.29.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Western Asset Intermediate Muni Fund stock. Royal Bank of Canada increased its stake in Western Asset Intermediate Muni Fund Inc. (NYSE:SBI) by 13.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,278 shares of the company’s stock after acquiring an additional 3,600 shares during the period. Royal Bank of Canada’s holdings in Western Asset Intermediate Muni Fund were worth $236,000 at the end of the most recent reporting period.

Western Asset Intermediate Muni Fund Company Profile

Western Asset Intermediate Muni Fund Inc is a closed ended fixed income mutual fund launched and managed by Legg Mason Partners Fund Advisor, LLC. The fund is co-managed by Western Asset Management Company. It invests in the fixed income markets of the United States. The fund invests in securities that provide income exempt from federal income tax.