UTG - Artificial Intelligence And Utilities Whoda Thunk? Likely Beneficiary: UTG

2024-06-10 11:44:54 ET

Summary

• UTG is starting to perk up, having had a rough couple of years as interest rates rose.
• Higher interest rates are likely to be included in utility rate bases going forward.
• Better yet, industry experts are pointing to the huge impact AI will have on demand for electrical power.
• With years of solid performance and 12 dividend increases under its belt, UTG has been a great hold.
• I'm buying more.

One of our long-time favorite closed-end funds has been Reaves Utility Income Fund ( UTG ). Utilities have been one of the most solid dividend payers and growers over many years, and certainly seem like they would be a logical component of an Income Factory . UTG pays a dependable dividend, currently 8.3%, that has increased 12 times since the fund's inception 20 years ago....

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