BNY Mellon Municipal Income, Inc. (NYSE:DMF) to Issue $0.02 Monthly Dividend

BNY Mellon Municipal Income, Inc. (NYSE:DMF) declared a monthly dividend on Tuesday, April 30th, Wall Street Journal reports. Stockholders of record on Tuesday, May 14th will be given a dividend of 0.015 per share on Friday, May 31st. This represents a $0.18 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date is Monday, May 13th.

BNY Mellon Municipal Income Stock Performance

Shares of DMF remained flat at $6.64 during mid-day trading on Tuesday. The stock had a trading volume of 36,357 shares, compared to its average volume of 53,769. BNY Mellon Municipal Income has a fifty-two week low of $5.37 and a fifty-two week high of $6.83. The firm’s 50-day moving average price is $6.68 and its 200 day moving average price is $6.39.

Insider Buying and Selling

In other news, major shareholder Saba Capital Management, L.P. purchased 20,410 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The shares were purchased at an average price of $6.75 per share, for a total transaction of $137,767.50. Following the purchase, the insider now directly owns 2,377,018 shares of the company’s stock, valued at approximately $16,044,871.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have bought 66,493 shares of company stock worth $438,875 in the last quarter. 1.00% of the stock is owned by insiders.

About BNY Mellon Municipal Income

BNY Mellon Municipal Income, Inc is a closed ended fixed income mutual fund launched and managed by BNY Mellon Investment Adviser, Inc It invests in the fixed income markets of the United States. The fund primarily invests in municipal obligations that are rated investment grade and have maturities of less than one year.