Nuveen Preferred and Income Term Fund (NYSE:JPI) Plans Monthly Dividend of $0.17

Nuveen Preferred and Income Term Fund (NYSE:JPI) announced a monthly dividend on Thursday, April 3rd, Wall Street Journal reports. Investors of record on Tuesday, April 15th will be paid a dividend of 0.166 per share on Thursday, May 1st. This represents a $1.99 annualized dividend and a yield of 10.26%. The ex-dividend date of this dividend is Tuesday, April 15th.

Nuveen Preferred and Income Term Fund has decreased its dividend payment by an average of 2.6% per year over the last three years.

Nuveen Preferred and Income Term Fund Stock Down 1.3 %

JPI stock traded down $0.25 during midday trading on Thursday, hitting $19.42. The company’s stock had a trading volume of 25,416 shares, compared to its average volume of 45,335. Nuveen Preferred and Income Term Fund has a 1 year low of $18.68 and a 1 year high of $21.42. The stock’s 50-day moving average price is $19.96 and its 200 day moving average price is $20.29.

About Nuveen Preferred and Income Term Fund

Nuveen Preferred and Income Term Fund is a close ended balanced mutual fund launched by Nuveen Investments, Inc The fund is co-managed by Nuveen Fund Advisors LLC and Nuveen Asset Management, LLC. It invests into public equity and fixed income markets across the globe. The fund seeks to invest in stocks of companies that are operating in financial services sectors such as bank, insurance, REITs, and utility companies.