Wells Fargo Multi-Sector Income Fund (NYSEAMERICAN:ERC) announced a monthly dividend on Monday, January 29th, Wall Street Journal reports. Investors of record on Wednesday, February 14th will be paid a dividend of 0.1079 per share on Thursday, March 1st. This represents a $1.30 annualized dividend and a dividend yield of 9.96%. The ex-dividend date of this dividend is Tuesday, February 13th. This is a boost from Wells Fargo Multi-Sector Income Fund’s previous monthly dividend of $0.11.
Shares of Wells Fargo Multi-Sector Income Fund (NYSEAMERICAN ERC) opened at $13.00 on Wednesday. Wells Fargo Multi-Sector Income Fund has a 1 year low of $12.66 and a 1 year high of $13.65.
In other news, Director Ronald W. Stewart sold 150,000 shares of the company’s stock in a transaction dated Friday, January 12th. The shares were sold at an average price of $0.20, for a total transaction of $30,000.00. Insiders have bought 105,500 shares of company stock worth $28,040 in the last quarter.
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About Wells Fargo Multi-Sector Income Fund
Wells Fargo Multi-Sector Income Fund (the Fund) is a diversified, closed-end management investment company. The Fund’s investment objective is to seek a high level of current income consistent with limiting its overall exposure to domestic interest rate risk. The Fund’s portfolio includes agency securities, asset-backed securities, common stocks, corporate bonds and notes, foreign corporate bonds and notes, foreign government bonds, loans, municipal obligations, non-agency mortgage-backed securities and short-term investments.
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