ALLIANCEBERNSTEIN NATIONAL MUNICIPAL INCOME FUND, INC. REPORTS SECOND QUARTER EARNINGS

Rhea-AI Summary

On June 28, 2024, AllianceBernstein National Municipal Income Fund (NYSE: AFB) reported its Q2 earnings for the period ending April 30, 2024. The total net assets decreased to $350.6 million from $364.5 million on January 31, 2024, and $356.5 million on April 30, 2023.

The NAV per share declined to $12.20 from $12.68 on January 31, 2024, and $12.40 on April 30, 2023. The fund posted a total net investment income of $2.8 million, translating to $0.10 per share, for the quarter.

However, the total net realized and unrealized loss stood at $13.9 million, or $0.48 per share, versus a gain of $52.7 million in the previous quarter and a loss of $6.6 million in Q2 of the previous year. The fund's shares outstanding remained unchanged at 28,744,936.

Positive

• None.

Negative

• Total net assets decreased to $350.6 million from $364.5 million in the previous quarter.
• NAV per share declined to $12.20 from $12.68 in the previous quarter.
• Total net realized and unrealized loss of $13.9 million for the quarter.
• Per share loss of $0.48 compared to a gain of $1.83 in the previous quarter.

News Market Reaction – AFB

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-0.45% News Effect

On the day this news was published, AFB declined 0.45%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

NEW YORK, June 28, 2024 /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc. (NYSE: AFB), a registered closed‑end investment company, today announced earnings for the Fund's second fiscal quarter ended April 30, 2024.

Total net assets of the Fund* on April 30, 2024 were $350,576,798 as compared with $364,468,619 on January 31, 2024, and $356,460,126 on April 30, 2023. On April 30, 2024, the net asset value per share of common stock was $12.20 based on 28,744,936 shares of common stock outstanding.

	April 30, 2024		January 31, 2024		April 30, 2023
Total Net Assets	$350,576,798		$364,468,619		$356,460,126
NAV Per Share	$12.20		$12.68		$12.40
Shares Outstanding	28,744,936		28,744,936		28,744,936

For the period February 1, 2024 through April 30, 2024, total net investment income was $2,807,884 or $0.10 per share of common stock. The total net realized and unrealized loss was $13,883,276 or $0.48 per share of common stock for the same period.

	Second Quarter Ended April 30, 2024		First Quarter Ended January 31, 2024		Second Quarter Ended April 30, 2023
Total Net Investment Income	$2,807,884		$2,897,982		$2,809,951
Per Share	$0.10		$0.10		$0.10
Total Net Realized/Unrealized Gain (Loss)	($13,883,276)		$52,736,537		($6,646,708)
Per Share	($0.48)		$1.83		($0.23)

* Total net assets include assets attributable to both common and preferred shares.

AllianceBernstein National Municipal Income Fund, Inc. is managed by AllianceBernstein L.P.

View original content:https://www.prnewswire.com/news-releases/alliancebernstein-national-municipal-income-fund-inc-reports-second-quarter-earnings-302185750.html

SOURCE AllianceBernstein National Municipal Income Fund, Inc.

FAQ

What are the Q2 2024 earnings for AllianceBernstein National Municipal Income Fund (AFB)?

The total net investment income for Q2 2024 was $2.8 million, translating to $0.10 per share.

What were the total net assets of AFB as of April 30, 2024?

As of April 30, 2024, the total net assets of AFB were $350.6 million.

How did AFB's NAV per share change in Q2 2024?

The NAV per share decreased to $12.20 from $12.68 in the previous quarter.

What was AFB's net realized and unrealized gain or loss in Q2 2024?

AFB reported a total net realized and unrealized loss of $13.9 million for Q2 2024.

How many shares of common stock does AFB have outstanding as of April 30, 2024?

As of April 30, 2024, AFB had 28,744,936 shares of common stock outstanding.