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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For further details see:
Artificial Intelligence And Utilities, Whoda Thunk? Likely Beneficiary: UTG