Voya Prime Rate Trust (NYSE:PPR) declared a monthly dividend on Thursday, February 1st, Wall Street Journal reports. Shareholders of record on Monday, February 12th will be given a dividend of 0.023 per share by the investment management company on Friday, February 23rd. This represents a $0.28 annualized dividend and a yield of 5.39%. The ex-dividend date of this dividend is Friday, February 9th. This is an increase from Voya Prime Rate Trust’s previous monthly dividend of $0.02.
Voya Prime Rate Trust has decreased its dividend payment by an average of 5.3% annually over the last three years.
Voya Prime Rate Trust (NYSE:PPR) opened at $5.12 on Friday. Voya Prime Rate Trust has a 1 year low of $4.97 and a 1 year high of $5.62.
Separately, AltaCorp Capital reiterated a “buy” rating and issued a $0.60 target price on shares of Voya Prime Rate Trust in a research report on Monday, January 15th.
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About Voya Prime Rate Trust
Voya Prime Rate Trust (the Trust) is a diversified, closed-end management investment company. The Trust seeks to provide investors with as high a level of current income as is consistent with the preservation of capital. The Trust seeks to achieve this objective by investing, under normal market conditions, approximately 80% of its net assets, plus borrowings for investment purposes, in United States dollar denominated floating rate secured senior loans.
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