Welcome to our dedicated page for Neuberger Berman Municipal news (Ticker: NBH), a resource for investors and traders seeking the latest updates and insights on Neuberger Berman Municipal stock.
Neuberger Berman Municipal Fund Inc (NBH) provides investors with tax-exempt income through actively managed municipal bond portfolios. This news hub delivers timely updates on fund developments, offering stakeholders a centralized resource for informed decision-making.
Access official press releases, earnings reports, and strategic announcements detailing NBH’s portfolio adjustments, distribution policies, and market positioning. Key updates include management insights, regulatory impacts on municipal securities, and performance analyses aligned with the fund’s income-focused mandate.
Regularly updated content covers:
• Quarterly earnings and distribution declarations
• Portfolio rebalancing and credit quality updates
• Regulatory developments affecting tax-exempt securities
• Neuberger Berman’s research-driven market commentary
Bookmark this page for direct access to NBH’s latest financial communications and institutional updates. Monitor the fund’s evolving strategy within the municipal bond sector through verified, primary-source information.
Neuberger Berman Municipal Fund Inc. (NYSE American: NBH) and Neuberger Berman Next Generation Connectivity Fund Inc. (NYSE: NBXG) have announced the certified results of their 2024 Annual Meetings of Stockholders. The meetings, held on August 16, 2024, reached quorum and faced a challenge from a dissident stockholder who proposed an alternative nominee. For NBH, preferred stockholders re-elected Michael M. Knetter. The final results, certified by independent Inspector of Election First Coast Results, Inc., confirm that the incumbent Board members of both funds will retain their positions. These results will be included in the funds' next annual report to stockholders.
Saba Capital Management, L.P., the largest shareholder of Neuberger Berman Municipal Fund (NBH) and Neuberger Berman Next Generation Connectivity Fund (NBXG), has criticized the 2024 Joint Annual Meeting election process. Despite shareholders overwhelmingly voting for Saba's director candidate, Paul Kazarian, Neuberger Berman's majority vote standard prevented his appointment. At NBXG, Kazarian received more than twice the votes of incumbent directors, even without Saba's votes.
Saba argues that Neuberger Berman's impossible-to-achieve vote standard allows underperforming directors to retain their positions indefinitely. The company is fighting against proposals by fund managers to eliminate shareholders' right to annual elections. Saba emphasizes the importance of protecting shareholder rights and ensuring their voices are heard in closed-end fund governance.
Neuberger Berman Municipal Fund Inc. (NYSE American: NBH) has declared a monthly distribution of $0.05417 per share of common stock. Key details include:
- Payment date: September 16, 2024
- Record date: August 30, 2024
- Ex-date: August 30, 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 and 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.
ISS has recommended shareholders of Neuberger Berman Municipal Fund (NBH) and Neuberger Berman Next Generation Connectivity Fund (NBXG) vote for Saba Capital's nominee, Paul Kazarian, to the Funds' Boards at the 2024 Joint Annual Meeting. ISS cited concerns with NBH's governance, performance, and fees, noting its significant NAV discount deterioration and underperformance. For NBXG, ISS highlighted performance issues and the Board's disregard for shareholder will. ISS concluded Saba "has presented a compelling case for change" at both Funds. Saba, the largest shareholder, aims to address persistent trading discounts and prioritize shareholder interests.
Neuberger Berman Municipal Fund Inc. (NYSE American: NBH) has announced a significant 43.5% increase in its monthly distribution rate, raising it from $0.03774 to $0.05417 per share of common stock. This new rate translates to an annualized distribution of $0.65 per share, up from the previous $0.45288. Based on July 12, 2024 figures, this results in a distribution rate of approximately 5.91% of the Fund's market price and 5.38% of its net asset value.
The Fund's Board and Neuberger Berman aim to enhance stockholder value and narrow the discount between the Fund's market price and net asset value. They acknowledge that the higher distribution may include a combination of net investment income, capital gains, and return of capital. The next monthly distribution at the new rate is payable on August 15, 2024, with a record date and ex-date of July 31, 2024.
Neuberger Berman Municipal Fund (NYSE American: NBH) announced a monthly distribution of $0.03774 per share, payable on July 15, 2024. The record and ex-date for this distribution is June 28, 2024. The fund aims to provide income exempt from federal income tax, though some distributions may be subject to federal alternative minimum tax. In line with Section 19 of the Investment Company Act of 1940, any non-net investment income distribution will be accompanied by a notice detailing the estimated portions of net investment income, capital gains, and return of capital. The final tax characteristics will be determined after the end of the year.
Neuberger Berman Municipal Fund (NYSE American: NBH) announced a monthly distribution of $0.03774 per share of common stock.
The distribution is payable on June 17, 2024, with a record date of May 31, 2024, and an ex-date of May 31, 2024.
The Fund aims to provide income exempt from regular federal income tax, although distributions may be subject to the federal alternative minimum tax for some shareholders.
A notice compliant with the Investment Company Act of 1940 will be issued if the distribution includes more than net investment income, for informational, not tax reporting purposes. The final determination of source and tax characteristics of all 2024 distributions will be made post year-end.
FAQ
What is the current stock price of Neuberger Berman Municipal (NBH)?
What is the market cap of Neuberger Berman Municipal (NBH)?
