Reaves Utility Income Fund Section 19(a) Notice

On September 28, 2018, the Reaves Utility Income Fund (NYSE MKT: UTG) (the Fund), a closed-end sector fund, paid a monthly distribution on its common stock of $0.17 per share to shareholders of record at the close of business on September 20, 2018.

The following table sets forth the estimated amount of the sources of distribution for purposes of Section 19 of the Investment Company Act of 1940, as amended, and the related rules adopted thereunder. In accordance with generally accepted accounting principles (GAAP), the Fund estimates the following percentages, of the total distribution amount per share, attributable to (i) current and prior fiscal year net investment income, (ii) net realized short-term capital gain, (iii) net realized long-term capital gain and (iv) return of capital or other capital source as a percentage of the total distribution amount. These percentages are disclosed for the current distribution as well as the fiscal year-to-date cumulative distribution amount per share for the Fund.

 
Current Distribution from:        
Per Share ($) %
Net Investment Income 0.11723 68.96 %
Net Realized Short-Term Capital Gain 0.00000 0.00 %
Net Realized Long-Term Capital Gain 0.05277 31.04 %
Return of Capital or other Capital Source 0.00000 0.00 %
Total (per common share) 0.17000 100.00 %
 
Fiscal Year-to-Date Cumulative
Distributions from:
Per Share ($) %
Net Investment Income 0.94300 51.81 %
Net Realized Short-Term Capital Gain 0.00542 0.30 %
Net Realized Long-Term Capital Gain 0.87158 47.89 %
Return of Capital or other Capital Source 0.00000 0.00 %
Total (per common share)     1.82000     100.00 %
 

The timing and character of distributions for federal income tax purposes are determined in accordance with income tax regulations which may differ from GAAP. As such, all or a portion of this distribution may be reportable as taxable income on your 2018 federal income tax return. The final tax character of any distribution declared in 2018 will be determined in January 2019 and reported to you on IRS Form 1099-DIV.

The amounts and sources of distributions reported in this 19(a) Notice are only estimates and not for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon the Funds investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes.

 Stay Updated To Save Money & Time. Join Our Free Newsletter 
. Indepth Analysis & Opinion       . Interviews      . Exclusive Reports  
. Free Digital Magazines      News & updates      . Event Invitations 
                     
& Much More Delivered To Your Inbox For Free.
Submit
We Will Not Spam, Rent, or Sell Your Information.
All emails include an unsubscribe link. You may opt-out at any time. See our privacy policy.

 

Presented below are return figures, based on the change in the Funds Net Asset Value per share (NAV), compared to the annualized distribution rate for this current distribution as a percentage of the NAV on the last day of the month prior to distribution record date.

Fund Performance & Distribution Information

 
Fiscal Year to Date (11/01/2017 through 8/31/2018)
Annualized Distribution Rate as a Percentage of NAV^         6.27 %
Cumulative Distribution Rate on NAV^         5.60 %
Cumulative Total Return on NAV*         3.72 %
           
Average Annual Total Return on NAV for the 5 Year Period Ended 8/31/2018**         11.80 %

^ Based on the Funds NAV as of August 31, 2018.

* Cumulative fiscal year-to-date return is based on the change in NAV including distributions paid and assuming reinvestment of these distributions for the period November 1, 2017 through August 31, 2018.

** The 5 year average annual total return is based on change in NAV including distributions paid and assuming reinvestment of these distributions and is through the last business day of the month prior to the month of the current distribution record date.

While the NAV performance may be indicative of the Funds investment performance, it does not measure the value of a shareholders investment in the Fund. The value of a shareholders investment in the Fund is determined by the Funds market price, which is based on the supply and demand for the Funds shares in the open market. Past performance does not guarantee future results. Shareholders should not draw any conclusions about the Funds investment performance from the amount of this distribution or from the terms of the Funds Managed Distribution Plan.

Furthermore, the Board of Trustees reviews the amount of any potential distribution and the income, capital gain or capital available. The Board of Trustees will continue to monitor the Funds distribution level, taking into consideration the Funds net asset value and the financial market environment. The Funds distribution policy is subject to modification by the Board of Trustees at any time. The distribution rate should not be considered the dividend yield or total return on an investment in the Fund.

ALPS Portfolio Solutions Distributor, Inc., FINRA Member Firm.

Reaves Utility Income Fund
Ned Burke, ALPS, +1 303-623-2577
[email protected]

 Stay Updated To Save Money & Time. Join Our Free Newsletter 
. Indepth Analysis & Opinion       . Interviews      . Exclusive Reports  
. Free Digital Magazines      News & updates      . Event Invitations 
                     
& Much More Delivered To Your Inbox For Free.
Submit
We Will Not Spam, Rent, or Sell Your Information.
All emails include an unsubscribe link. You may opt-out at any time. See our privacy policy.

 
Close
Stay Updated To Save Money & Time. Join Our Free Newsletter. 
. Indepth Analysis & Opinion       Interviews          . Exclusive Reports 
. Free Digital Magazines        . News & updates        . Event Invitations
& Much More Delivered To Your Inbox For Free. 
Submit
We Will Not Spam, Rent, or Sell Your Information.
All emails include an unsubscribe link. You may opt-out at any time. See our privacy policy.
 
Close