Kayne Anderson Energy Development Co. (NYSE:KED) announced a quarterly dividend on Monday, October 2nd, Wall Street Journal reports. Shareholders of record on Monday, October 9th will be paid a dividend of 0.40 per share by the investment management company on Friday, October 13th. This represents a $1.60 dividend on an annualized basis and a yield of 9.07%. The ex-dividend date of this dividend is Thursday, October 5th.

Kayne Anderson Energy Development has raised its dividend payment by an average of 2.9% per year over the last three years. Kayne Anderson Energy Development has a dividend payout ratio of 78.4% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Analysts expect Kayne Anderson Energy Development to earn ($1.27) per share next year, which means the company may not be able to cover its $1.60 annual dividend with an expected future payout ratio of -126.0%.

Kayne Anderson Energy Development (NYSE KED) opened at 17.65 on Tuesday. The firm’s 50-day moving average price is $16.59 and its 200-day moving average price is $17.81. Kayne Anderson Energy Development has a 1-year low of $15.71 and a 1-year high of $20.46.

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A number of equities research analysts recently issued reports on the stock. Stifel Nicolaus set a $23.00 target price on shares of Kayne Anderson Energy Development and gave the company a “buy” rating in a report on Saturday, June 24th. Zacks Investment Research downgraded shares of Kayne Anderson Energy Development from a “hold” rating to a “sell” rating in a research note on Thursday, July 20th.

About Kayne Anderson Energy Development

Kayne Anderson Energy Development Company is a non-diversified, closed-end fund. The Fund’s investment objective is to generate both current income and capital appreciation, through equity and debt investments. It seeks to achieve this objective by investing approximately 80% of its total assets in securities of companies that derive their revenue from activities in the energy industry, including midstream energy companies, which operates assets used to gather, transport, process, treat, terminal and store natural gas, natural gas liquids, crude oil or refined petroleum products; upstream energy companies, which are engaged in the exploration, extraction and production of natural resources, including natural gas, natural gas liquids and crude oil, from onshore and offshore geological reservoirs, and other energy companies, which are engaged in owning, leasing, managing, producing, processing and selling of coal and coal reserves.

Dividend History for Kayne Anderson Energy Development (NYSE:KED)

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