Cushing Renaissance Fund (NYSE:SZC) declared a monthly dividend on Wednesday, January 3rd, Wall Street Journal reports. Stockholders of record on Friday, January 19th will be paid a dividend of 0.1367 per share by the investment management company on Wednesday, January 31st. This represents a $1.64 dividend on an annualized basis and a dividend yield of 7.85%. The ex-dividend date is Thursday, January 18th.
Cushing Renaissance Fund has raised its dividend payment by an average of 10.1% annually over the last three years.
Shares of Cushing Renaissance Fund (NYSE:SZC) traded up $0.35 during midday trading on Wednesday, hitting $20.89. The stock had a trading volume of 13,661 shares, compared to its average volume of 14,600. Cushing Renaissance Fund has a 1 year low of $16.53 and a 1 year high of $20.99.
The Cushing Renaissance Fund (the Fund) is a non-diversified, closed-end management investment company. The Fund’s investment objective is to seek a high total return with an emphasis on current income. It seeks to achieve its investment objective by investing at least 80% of its managed assets in upstream, midstream and downstream energy companies, as well as oil and gas services companies; chemical, metal and industrial and manufacturing companies; engineering and construction companies, and transportation and logistics companies.
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