BlackRock Enhanced International Dividend Trust announced on March 1, 2024, that its board of directors has declared a regular monthly dividend of $0.03 per share ($0.41 annualized), maintaining the same payout as the previous period. Shareholders must purchase shares before the ex-dividend date of March 14, 2024, to qualify for the dividend, with payments scheduled for March 28, 2024.
With the current share price at $5.42 per share, the stock’s dividend yield stands at 7.48%. Looking back over the past five years, the average dividend yield has been 7.45%, with a low of 6.08% and a high of 10.51%. The standard deviation of yields is 0.68, indicating that the current dividend yield is 0.04 standard deviations above the historical average.
Despite not increasing its dividend in the last three years, BlackRock Enhanced International Dividend Trust has seen an increase in institutional ownership. There are now 111 funds or institutions reporting positions in the company, representing a 4.72% increase in the last quarter. The average portfolio weight of all funds dedicated to BGY is 0.10%, a 9.21% increase from the previous period.
Notable institutional shareholders include Allspring Global Investments Holdings, Karpus Management, 1607 Capital Partners, Saba Capital Management, and Invesco, all of whom have increased their holdings in BlackRock Enhanced International Dividend Trust in the last quarter. This news comes as the company continues to focus on providing current income that is exempt from regular federal income tax and investing in municipal bonds for long-term performance.