Federated Hermes Premier Municipal Income Fund declares dividend

Rhea-AI Summary

Federated Hermes Premier Municipal Income Fund (FMN) declares a tax-free dividend of $0.0350 per share, exempt from federal income tax and alternative minimum tax. Federated Hermes, Inc. (FHI), a global investment management leader, manages $757.6 billion in assets, offering diverse investment solutions to institutions worldwide.

Tax Expert

The declaration of a dividend by Federated Hermes Premier Municipal Income Fund is a significant announcement for income-focused investors, particularly those seeking tax-efficient income streams. The tax-exempt status of the dividends from regular federal income tax and the federal alternative minimum tax (AMT) is a critical aspect. It is important to note that municipal bonds, which are likely the underlying assets for this fund, are favored by investors in higher tax brackets, as the tax savings can be substantial when compared to taxable fixed-income investments.

Given that the amount of the dividend has not changed from the previous month, this consistency may be viewed positively by investors who depend on predictable income. The stable dividend could also reflect the fund's operational stability and effective portfolio management, especially in a potentially fluctuating interest rate environment that can affect bond yields.

Financial Analyst

Federated Hermes, Inc.'s announcement of maintaining its dividend payout is an indicator of financial stability and confidence in its cash flow management. For shareholders, the consistent dividend payout can be a sign of a reliable income stream, which is particularly attractive during times of market volatility or economic uncertainty. Additionally, the fund's focus on tax-exempt income aligns with the current trend of investors seeking tax-advantaged investment options.

From a financial analysis perspective, it's crucial to assess the sustainability of these dividends by examining the fund's payout ratio and yield in comparison to industry peers. Investors should also consider the fund's performance, including its assets under management (AUM), which stood at a robust $757.6 billion as of the end of the previous year. This level of AUM suggests significant market trust and investment capacity, which can be reassuring for both current and potential investors.

Market Research Analyst

The strategic positioning of Federated Hermes as a global leader in active, responsible investment management is noteworthy in the current market climate where there is increasing interest in environmental, social and governance (ESG) criteria among investors. The company's broad range of investment solutions, catering to a diverse set of institutions and intermediaries, speaks to its adaptability and potential for growth in various market segments.

Investors may also be interested in the geographical and sectoral diversification of the fund's portfolio, as these factors can mitigate risk and contribute to the stability of dividend payouts. The announcement should be evaluated in the context of overall market conditions, including interest rate trends and municipal bond market health, as these can influence the fund's performance and, consequently, its ability to sustain dividend payments.

PITTSBURGH, March 11, 2024 /PRNewswire/ -- Federated Hermes Premier Municipal Income Fund (NYSE: FMN) has declared a dividend. The fund seeks to provide investors with current dividend income that is exempt from regular federal income tax. In addition, this fund features income exempt from the federal alternative minimum tax (AMT).

Tax-Free Dividend Per Share
Record Date:	March 22, 2024
Ex-Dividend Date:	March 21, 2024
Payable Date:	April 1, 2024
Amount	Change From Previous Month
$0.0350	$0.0000

Investors can view additional portfolio information in the Products section of FederatedHermes.com/us.

Federated Hermes, Inc. (NYSE: FHI) is a global leader in active, responsible investment management, with $757.6 billion in assets under management, as of Dec. 31, 2023. We deliver investment solutions that help investors target a broad range of outcomes and provide equity, fixed-income, alternative/private markets, multi-asset and liquidity management strategies to more than 10,000 institutions and intermediaries worldwide. Our clients include corporations, government entities, insurance companies, foundations and endowments, banks and broker/dealers. Headquartered in Pittsburgh, Federated Hermes has more than 2,000 employees in London, New York, Boston and offices worldwide. For more information, visit FederatedHermes.com/us.

 

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SOURCE Federated Hermes, Inc.

What is the dividend amount declared by Federated Hermes Premier Municipal Income Fund (FMN)?

Federated Hermes Premier Municipal Income Fund (FMN) has declared a tax-free dividend of $0.0350 per share.

What is the record date for the dividend declared by Federated Hermes Premier Municipal Income Fund (FMN)?

The record date for the dividend declared by Federated Hermes Premier Municipal Income Fund (FMN) is March 22, 2024.

What is the ex-dividend date for the dividend declared by Federated Hermes Premier Municipal Income Fund (FMN)?

The ex-dividend date for the dividend declared by Federated Hermes Premier Municipal Income Fund (FMN) is March 21, 2024.

What is the payable date for the dividend declared by Federated Hermes Premier Municipal Income Fund (FMN)?

The payable date for the dividend declared by Federated Hermes Premier Municipal Income Fund (FMN) is April 1, 2024.

What is the total assets under management by Federated Hermes, Inc. (FHI)?

Federated Hermes, Inc. (FHI) manages $757.6 billion in assets as of Dec. 31, 2023.

Where can investors find additional portfolio information for Federated Hermes Premier Municipal Income Fund (FMN)?

Investors can view additional portfolio information in the Products section of FederatedHermes.com/us.