SmarterDividends
UTG

Reaves Utility Income Fund (UTG) Dividend

Reaves Utility Income Fund · Financial Services · Asset Management · monthly payer

$32.86

Undervalued · +27% Add to Portfolio

As of Nov 9, 2026, Reaves Utility Income Fund (UTG) pays a monthly dividend of $0.21 per share, or $2.52 a year, a 7.67% yield at its $32.86 share price. The next ex-dividend date is Nov 17, 2026, paid Dec 1, 2026. It has a dividend safety grade of A.

Forward Yield

7.67%

Annual Dividend

$2.52

Payout Ratio

17%

5-Yr Growth

1.7%

Ex-Date

Nov 17, 2026

Frequency

Monthly

Key facts about UTG's dividend

Data as of · Source: SmarterDividends data

  • As of Nov 9, 2026, Reaves Utility Income Fund (UTG) has a forward dividend yield of 7.67%, based on an annual dividend of $2.52 per share and a share price of $32.86.
  • As of Nov 9, 2026, UTG's dividend safety grade from SmarterDividends is A (97 out of 100), which rates the dividend as very safe.
  • UTG has never cut its regular dividend in the payment history SmarterDividends has on record.
  • UTG's next ex-dividend date is Nov 17, 2026, with payment on Dec 1, 2026. Shares must be owned before that date to receive the dividend.
  • As of Nov 9, 2026, UTG pays out 17% of its trailing 12-month earnings as dividends (its payout ratio).
  • UTG's dividend has grown at an average rate of 1.7% a year over the past five years.
  • As of Nov 9, 2026, SmarterDividends' blended fair-value estimate for UTG is $41.76 per share, 27% above the $32.86 share price, so UTG screens as undervalued.
  • Reaves Utility Income Fund (UTG) pays its dividend monthly, 12 times a year.
  • Reaves Utility Income Fund (UTG) has raised its regular dividend 16 times and cut it 0 times across the 273 payments on record since 2004. Its most recent change was a 5.0% increase to $0.210 per share, going ex-dividend on Jul 17, 2026.
Cite this page

SmarterDividends, "UTG Dividend: Yield, Safety Grade & Next Ex-Date," updated Nov 9, 2026, https://smarterdividends.com/stocks/UTG

Is UTG a good dividend stock?

Yes

Reaves Utility Income Fund (UTG) pays a monthly dividend yielding 7.67% ($2.52/yr), with 1 year of growth and a dividend-safety grade of A. It scores well across payout coverage, growth history and safety — a dependable income holding.

Advantages

  • Never cut its dividend on record
  • Comfortable payout ratio (17%)
  • Top-tier dividend safety score

Risks

  • Share price is down over the past 5 years

Key Data

Dividend Yield
7.67%
Payout Ratio
17%
Annual Dividend
$2.52
5-Yr Avg Growth
1.7%
Ex-Dividend Date
Nov 17, 2026
Years of Growth
1
Frequency
monthly
Beta
0.85
Market Cap
$3.0B
P/E Ratio
2.4
5-Yr Total Return
-1%
52-Week Range
$32.10 – $43.90
Dividend Safety
A · 97/100
Ever Cut?
No

UTG dividend raises and cuts

Reaves Utility Income Fund (UTG) has raised its regular dividend 16 times and cut it 0 times across the 273 payments on record since 2004. Its most recent change was a 5.0% increase to $0.210 per share, going ex-dividend on Jul 17, 2026.

Ex-dateChangeOld → newMove
Jul 17, 2026Raise$0.200 → $0.210+5.0%
Jul 18, 2025Raise$0.190 → $0.200+5.3%
Jul 22, 2021Raise$0.180 → $0.190+5.6%
Jul 22, 2019Raise$0.170 → $0.180+5.9%
Apr 19, 2018Raise$0.160 → $0.170+6.3%
Oct 19, 2016Raise$0.151 → $0.160+6.0%
Dec 16, 2015Raise$0.148 → $0.151+2.2%
Dec 29, 2014Raise$0.135 → $0.148+9.4%
Dec 27, 2013Raise$0.128 → $0.135+5.3%
Oct 17, 2012Raise$0.122 → $0.128+4.8%
Aug 22, 2012Raise$0.118 → $0.122+3.4%
Apr 18, 2011Raise$0.109 → $0.118+8.7%
Show all 16 changes since 2004
Ex-dateChangeOld → newMove
Feb 13, 2008Raise$0.104 → $0.109+4.5%
Feb 14, 2007Raise$0.0994 → $0.104+4.8%
Dec 28, 2005Raise$0.0946 → $0.0994+5.0%
Dec 29, 2004Raise$0.0918 → $0.0946+3.1%
Every UTG payment →Download every raise and cut (CSV)
UTG ex-dividend date & scheduleNext ex-date Nov 17, 2026 · full ex-dividend historyView →UTG dividend historyEvery payment, totals by year, raises and cutsView →UTG dividend calculator100 shares pay $252.00 a year, $21.00 each monthCalculate →UTG total return calculatorWhat $10,000 became, with dividends reinvested or taken as cashSee →

Frequently Asked Questions

Is UTG a good dividend stock?

Yes. Reaves Utility Income Fund (UTG) pays a monthly dividend yielding 7.67% ($2.52/yr), with 1 year of growth and a dividend-safety grade of A. It scores well across payout coverage, growth history and safety — a dependable income holding.

Is UTG undervalued?

Based on a blend of discounted cash flow, a dividend-discount model and an earnings-multiple estimate, UTG's fair value is about $41.76 versus a $32.86 share price — so it looks undervalued (+27% vs. fair value).

Is UTG's dividend safe?

UTG has a dividend-safety grade of A (97/100), based on its payout coverage, free-cash-flow, 1-year growth streak, a clean no-cut history, debt and yield-versus-history.

What is UTG's fair value?

Our blended fair-value estimate for UTG is about $41.76 per share, roughly 27% above the current $32.86 price — combining a discounted cash flow, a dividend-discount model and an earnings multiple.

Is UTG a buy, hold, or sell?

We don't issue formal ratings, but on the data UTG screens as "yes" and undervalued. Reaves Utility Income Fund (UTG) pays a monthly dividend yielding 7.67% ($2.52/yr), with 1 year of growth and a dividend-safety grade of A. It scores well across payout coverage, growth history and safety — a dependable income holding. This is research for your own analysis, not investment advice.

Will UTG cut its dividend?

UTG earns a dividend-safety grade of A (97/100), with no dividend cut on record. A higher score means lower cut risk based on payout coverage, cash flow and history — but no score guarantees a dividend.

Does UTG pay a dividend?

Yes. Reaves Utility Income Fund pays a monthly dividend of about $2.52 per share annually, a forward yield of roughly 7.67%.

How much dividend does 100 shares of UTG pay?

At $2.52 per share a year, 100 shares of UTG pay $252.00 a year in dividends before tax, about $21.00 each month. Buying them costs about $3,286 at the Nov 9, 2026 price.

What is UTG's dividend yield?

As of Nov 9, 2026, UTG's forward dividend yield is 7.67%, based on a $2.52 annual dividend and a $32.86 share price.

What is UTG's dividend per share?

As of Nov 9, 2026, UTG pays $2.52 per share per year, distributed on a monthly basis.

What is UTG's dividend payout ratio?

As of Nov 9, 2026, UTG's payout ratio is 17% of trailing 12-month earnings — a comfortable level that leaves room to keep raising the dividend.

How many years has UTG grown its dividend?

As of Nov 9, 2026, UTG has increased its dividend for 1 consecutive years.

When is the next UTG ex-dividend date?

As of Nov 9, 2026, the next ex-dividend date on record for UTG is Nov 17, 2026.

Income Calculator

At $2.52 / yr per share

Per payment (monthly)$21.00
Annual$252.00
Monthly avg$21.00
Full UTG dividend calculator →

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