MainStay CBRE Global Infrastructure Fund Announces Monthly Dividend

The MainStay CBRE Global Infrastructure Megatrends Term Fund (NYSE:MEGI) announced a monthly dividend of $0.13 per share on December 12, 2023. This dividend will be paid to investors of record on December 22, 2023, with the payment scheduled for December 31, 2023. The annualized dividend yield stands at an impressive 11.0%, reflecting the fund’s commitment to delivering value to its shareholders.

The ex-dividend date is also set for December 22, 2023, meaning investors must hold shares before this date to qualify for the upcoming dividend.

Market Performance and Trading Details

On the day of the announcement, shares of MEGI experienced no change, trading at $13.60. The trading volume reached 132,591 shares, which is below the average volume of 165,081 shares. Over the past few months, MEGI’s stock has fluctuated, with a 50-day simple moving average standing at $14.26 and a 200-day simple moving average at $14.29.

The fund has witnessed a 52-week low of $11.40 and a 52-week high of $15.05, highlighting its volatility in a competitive market.

About MainStay CBRE Global Infrastructure Megatrends Term Fund

The MainStay CBRE Global Infrastructure Megatrends Term Fund focuses on investing in global infrastructure assets, aiming to provide investors with income through dividends while capitalizing on growth opportunities in the infrastructure sector.

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The recent dividend declaration underscores the fund’s ongoing strategy to reward its shareholders, even amidst fluctuating market conditions.