RiverNorth Managed Duration Municipal Income Fund II said on April 3, 2023 that its board of directors declared a regular
monthly dividend of $0.10 per share ($1.17 annualized).
Previously, the company paid $0.10 per share.
Shares must be purchased before the ex-div date of April 13, 2023 to qualify for the dividend.
Shareholders of record as of April 14, 2023
will receive the payment on April 28, 2023.
At the current share price of $15.13 / share,
the stock’s dividend yield is 7.70%.
Looking back five years and taking a sample every week, the average dividend yield has been
32.31%,
the lowest has been 7.58%,
and the highest has been 42.03%.
The standard deviation of yields is 9.58 (n=51).
The current dividend yield is
2.57 standard deviations
below
the historical average.
The company has not increased its dividend in the last three years.
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What are Other Shareholders Doing?
Matisse Capital
holds 68K shares.
No change in the last quarter.
Royal Bank Of Canada
holds 37K shares.
In it’s prior filing, the firm reported owning 17K shares, representing
an increase
of 52.88%.
The firm
increased
its portfolio allocation in RMMZ by 91.51% over the last quarter.
Wells Fargo
holds 36K shares.
In it’s prior filing, the firm reported owning 30K shares, representing
an increase
of 16.63%.
The firm
increased
its portfolio allocation in RMMZ by 9.35% over the last quarter.
UBS Group
holds 145K shares.
In it’s prior filing, the firm reported owning 137K shares, representing
an increase
of 5.52%.
The firm
decreased
its portfolio allocation in RMMZ by 10.74% over the last quarter.
Karpus Management
holds 392K shares.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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