Eaton Vance Municipal Incm 2028 Term Tr Announces Monthly Dividend of $0.07 (ETX)
Eaton Vance Municipal Incm 2028 Term Tr (NYSE:ETX) announced a monthly dividend on Thursday, November 2nd, Wall Street Journal reports. Investors of record on Wednesday, November 22nd will be paid a dividend of 0.0709 per share by the investment management company on Thursday, November 30th. This represents a $0.85 annualized dividend and a yield of 4.24%. The ex-dividend date is Tuesday, November 21st.
Eaton Vance Municipal Incm 2028 Term Tr has increased its dividend payment by an average of 19.7% per year over the last three years. Eaton Vance Municipal Incm 2028 Term Tr has a payout ratio of -1,214.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Eaton Vance Municipal Incm 2028 Term Tr to earn ($0.01) per share next year, which means the company may not be able to cover its $0.85 annual dividend with an expected future payout ratio of -8,500.0%.
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Eaton Vance Municipal Incm 2028 Term Tr Company Profile
Eaton Vance Municipal Income 2028 Term Trust (the Trust) is a diversified, closed-end management investment company. The Trust’s investment objective is to provide current income exempt from regular federal income tax. The Trust seeks to achieve its investment objective by investing primarily in municipal obligations, a portion of which will be investment grade and a portion of which may be below investment grade at the time of investment.
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