Western Asset Investment Grade Defined Opportunity Trust Inc. (NYSE:IGI) Plans Dividend Increase – $0.07 Per Share

Western Asset Investment Grade Defined Opportunity Trust Inc. (NYSE:IGI) declared a monthly dividend on Wednesday, November 15th, Wall Street Journal reports. Shareholders of record on Wednesday, January 24th will be paid a dividend of 0.0695 per share on Thursday, February 1st. This represents a $0.83 dividend on an annualized basis and a dividend yield of 5.12%. The ex-dividend date is Tuesday, January 23rd. This is a boost from Western Asset Investment Grade Defined Opportunity Trust’s previous monthly dividend of $0.07.

Western Asset Investment Grade Defined Opportunity Trust has decreased its dividend payment by an average of 4.8% per year over the last three years and has raised its dividend every year for the last 1 years.

Western Asset Investment Grade Defined Opportunity Trust Stock Up 0.1 %

Shares of IGI opened at $16.30 on Friday. The business’s 50 day moving average is $15.74 and its two-hundred day moving average is $16.15. Western Asset Investment Grade Defined Opportunity Trust has a 52-week low of $15.13 and a 52-week high of $17.44.

Hedge Funds Weigh In On Western Asset Investment Grade Defined Opportunity Trust

A number of institutional investors have recently made changes to their positions in IGI. UBS Group AG increased its holdings in shares of Western Asset Investment Grade Defined Opportunity Trust by 5.2% in the 1st quarter. UBS Group AG now owns 461,487 shares of the company’s stock valued at $7,813,000 after acquiring an additional 22,726 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of Western Asset Investment Grade Defined Opportunity Trust by 18.9% in the 1st quarter. Bank of America Corp DE now owns 124,178 shares of the company’s stock valued at $2,102,000 after acquiring an additional 19,696 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Western Asset Investment Grade Defined Opportunity Trust by 1.1% in the 1st quarter. Invesco Ltd. now owns 120,387 shares of the company’s stock valued at $2,253,000 after acquiring an additional 1,363 shares during the last quarter. Wells Fargo & Company MN increased its holdings in shares of Western Asset Investment Grade Defined Opportunity Trust by 14.8% in the 2nd quarter. Wells Fargo & Company MN now owns 113,546 shares of the company’s stock valued at $1,853,000 after acquiring an additional 14,677 shares during the last quarter. Finally, Raymond James & Associates increased its holdings in shares of Western Asset Investment Grade Defined Opportunity Trust by 4.1% in the 1st quarter. Raymond James & Associates now owns 60,346 shares of the company’s stock valued at $1,130,000 after acquiring an additional 2,373 shares during the last quarter.

Western Asset Investment Grade Defined Opportunity Trust Company Profile

Western Asset Investment Grade Defined Opportunity Trust Inc is a close-ended fixed income mutual fund launched and managed by Legg Mason Partners Fund Advisor, LLC. It is co-managed by Western Asset Management Company, Western Asset Management Company Pte. Ltd, Western Asset Management Company Ltd., and Western Asset Management Company Limited.