NEUBERGER BERMAN MUNICIPAL FUND ANNOUNCES MONTHLY DISTRIBUTION

Rhea-AI Summary

Neuberger Berman Municipal Fund Inc. (NYSE American: NBH) has declared a monthly distribution of $0.05417 per share of common stock. Key details include:

- Payable date: November 15, 2024
- Record date: October 31, 2024
- Ex-date: October 31, 2024

The Fund aims to provide income exempt from regular federal income tax. Distributions may be subject to federal alternative minimum tax for some stockholders. Future distributions could include net investment income, realized capital gains, and return of capital. The final determination of the distribution's tax characteristics will be made after the end of 2024.

Positive

• Regular monthly distribution maintained
• Fund provides income exempt from regular federal income tax

Negative

• Distributions may be subject to federal alternative minimum tax for some stockholders
• Future distributions may include return of capital, potentially reducing NAV and investor's cost basis

Insights

Financial Analyst

The announcement of a $0.05417 per share monthly distribution by Neuberger Berman Municipal Fund is a routine event for this type of investment vehicle. Municipal bond funds typically provide regular income to investors, with the key attraction being tax-exempt status for federal income tax purposes. However, it's important to note that this distribution may be subject to alternative minimum tax for some stockholders.

The fund's strategy of seeking tax-exempt income aligns with investor demand for tax-efficient investment options, particularly in high-tax environments. The distribution's composition, potentially including net investment income, realized capital gains and return of capital, is standard for such funds. Investors should be aware that return of capital components can impact their cost basis and NAV.

While this news maintains the fund's income stream for investors, it doesn't represent a significant change or impact on the fund's overall strategy or performance. As such, this announcement is more of a regular operational update rather than a market-moving event for NBH.

NEW YORK, Oct. 15, 2024 /PRNewswire/ -- Neuberger Berman Municipal Fund Inc. (NYSE American: NBH) (the "Fund") has announced a distribution declaration of $0.05417 per share of common stock. The distribution announced today is payable on November 15, 2024, has a record date of October 31, 2024, and has an ex-date of October 31, 2024. The Fund seeks to provide income that is exempt from regular federal income tax. Distributions of the Fund may be subject to the federal alternative minimum tax for some stockholders.

The distribution announced today, as well as future distributions, may consist of net investment income, realized capital gains, and return of capital. In the event the Fund distributes more than its net investment income during any yearly period, such distributions may also include realized gains and/or a return of capital. To the extent that a distribution includes a return of capital, the NAV per share may decline and an investor's cost basis of their shares will be reduced. In compliance with Section 19 of the Investment Company Act of 1940, as amended, a notice would be provided for any distribution that does not consist solely of net investment income. The notice would be for informational purposes and not for tax reporting purposes, and would disclose, among other things, estimated portions of the distribution, if any, consisting of net investment income, capital gains and return of capital. The final determination of the source and tax characteristics of all distributions paid in 2024 will be made after the end of the year.

About Neuberger Berman

Neuberger Berman is an employee-owned, private, independent investment manager founded in 1939 with over 2,800 employees in 26 countries. The firm manages $509 billion of equities, fixed income, private equity, real estate and hedge fund portfolios for global institutions, advisors and individuals. Neuberger Berman's investment philosophy is founded on active management, fundamental research and engaged ownership. The PRI identified the firm as part of the Leader's Group, a designation awarded to fewer than 1% of investment firms for excellence in environmental, social and governance practices. Neuberger Berman has been named by Pensions & Investments as the #1 or #2 Best Place to Work in Money Management for each of the last ten years (firms with more than 1,000 employees). Visit www.nb.com for more information. Data as of September 30, 2024.

Statements made in this release that look forward in time involve risks and uncertainties. Such risks and uncertainties include, without limitation, the adverse effect from a decline in the securities markets or a decline in the Fund's performance, a general downturn in the economy, competition from other closed end investment companies, changes in government policy or regulation, inability of the Fund's investment adviser to attract or retain key employees, inability of the Fund to implement its investment strategy, inability of the Fund to manage rapid expansion and unforeseen costs and other effects related to legal proceedings or investigations of governmental and self-regulatory organizations.

Contact:
Neuberger Berman Investment Advisers LLC
Investor Information
(877) 461-1899 

View original content:https://www.prnewswire.com/news-releases/neuberger-berman-municipal-fund-announces-monthly-distribution-302276960.html

SOURCE Neuberger Berman

FAQ

What is the monthly distribution amount for Neuberger Berman Municipal Fund (NBH)?

Neuberger Berman Municipal Fund Inc. (NBH) has declared a monthly distribution of $0.05417 per share of common stock.

When is the payable date for NBH's November 2024 distribution?

The payable date for NBH's November 2024 distribution is November 15, 2024.

What are the record and ex-dates for NBH's upcoming distribution?

Both the record date and ex-date for NBH's upcoming distribution are October 31, 2024.

Is the income from Neuberger Berman Municipal Fund (NBH) exempt from federal income tax?

The Fund seeks to provide income that is exempt from regular federal income tax. However, distributions may be subject to federal alternative minimum tax for some stockholders.