The Reaves Utility Income Fund (Amex:UTG) announced the next three monthly dividends, at a rate of $0.125 per common share per month, unchanged from the per share rate paid for the previous quarter. The dividend represents an annualized yield of 6.01% based on the current market price. As of September 16, 2011, the Fund's market price was $24.94 per share and its net asset value was $23.28 per share. The Fund has formally implemented the 19b-1 exemption received from the Securities & Exchange Commission in 2009. A portion of each distribution may be treated as paid from sources other than net income, including but not limited to short-term capital gain, long-term capital gain and return of capital. The final determination of the source of these distributions, including the percentage of qualified dividend income, will be made after the Fund's year end.

Reaves Utility Income Fund is a closed ended equity mutual fund launched and managed by W. H. Reaves & Company, Inc. The fund invests in the public equity markets of the United States.

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