Ecofin Sustainable and Social Impact Term Fund (NYSE:TEAF) Plans $0.09 Monthly Dividend

Ecofin Sustainable and Social Impact Term Fund (NYSE:TEAF) announced a monthly dividend on Monday, May 19th, Wall Street Journal reports. Stockholders of record on Friday, August 22nd will be paid a dividend of 0.09 per share on Friday, August 29th. This represents a $1.08 annualized dividend and a dividend yield of 9.18%. The ex-dividend date of this dividend is Friday, August 22nd.

Ecofin Sustainable and Social Impact Term Fund has increased its dividend by an average of 5.9% annually over the last three years.

Ecofin Sustainable and Social Impact Term Fund Trading Up 0.7%

NYSE:TEAF opened at $11.77 on Wednesday. The stock has a 50 day moving average of $11.25 and a two-hundred day moving average of $11.89. Ecofin Sustainable and Social Impact Term Fund has a 12 month low of $10.09 and a 12 month high of $13.34.

Insider Transactions at Ecofin Sustainable and Social Impact Term Fund

In other Ecofin Sustainable and Social Impact Term Fund news, major shareholder Saba Capital Management, L.P. purchased 2,473 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were purchased at an average cost of $11.35 per share, for a total transaction of $28,068.55. Following the completion of the transaction, the insider now owns 1,386,037 shares of the company’s stock, valued at $15,731,519.95. The trade was a 0.18% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have bought 139,210 shares of company stock valued at $1,506,031 over the last ninety days.

About Ecofin Sustainable and Social Impact Term Fund

Tortoise Essential Assets Income Term Fund is a closed-ended balanced mutual fund launched and managed by Tortoise Capital Advisors LLC It invests in equity and fixed income markets. The fund seeks to invest in securities of companies operating in the essential asset sectors, which includes education, housing, healthcare, social and human services, power, water, energy, infrastructure, basic materials, industrial, transportation and telecommunications sectors.