Putnam Managed (NYSE:PMM) Declares Dividend Increase – $0.03 Per Share

Putnam Managed (NYSE:PMM) announced a monthly dividend on Thursday, May 14th. Shareholders of record on Tuesday, June 23rd will be given a dividend of 0.033 per share on Tuesday, June 30th. This represents a c) dividend on an annualized basis and a yield of 6.3%. The ex-dividend date of this dividend is Tuesday, June 23rd. This is a 24.5% increase from Putnam Managed’s previous monthly dividend of $0.03.

Putnam Managed Price Performance

PMM stock traded up $0.01 during trading on Thursday, reaching $6.29. 160,452 shares of the stock traded hands, compared to its average volume of 106,249. The business’s 50 day moving average price is $6.21 and its 200-day moving average price is $6.21. Putnam Managed has a 52-week low of $5.77 and a 52-week high of $6.52.

Putnam Managed Company Profile

Putnam Managed Municipal Income Trust (NYSE: PMM) is a closed-end management investment company that seeks to provide current income exempt from federal income tax. The trust’s primary business activity is the active management of a diversified portfolio of investment-grade municipal securities, including general obligation and revenue bonds issued by U.S. states and municipalities. Using a flexible approach, PMM’s portfolio managers may also invest in below-investment-grade or unrated municipal securities, subject to quality restrictions, to enhance yield potential.

Established in September 1993, PMM has a long history of targeting tax-exempt income for its shareholders.