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. (NYSE American: NBH) is a closed-end management investment company that invests mainly in municipal securities and seeks to provide income exempt from regular federal income tax. The fund regularly issues press releases announcing monthly distribution declarations, detailing the per-share amount, payable date, record date and ex-date for its common stockholders.
News about NBH often focuses on its distribution policy and the tax characteristics of those distributions. The fund explains that each distribution may consist of net investment income, realized capital gains and return of capital. Its releases describe how, if distributions exceed net investment income during a yearly period, they may also include realized gains and/or a return of capital, which can affect net asset value per share and investor cost basis. NBH also highlights that some distributions may be subject to the federal alternative minimum tax for certain stockholders.
Another recurring theme in NBH news is regulatory disclosure around distributions. The fund notes that, in compliance with Section 19 of the Investment Company Act of 1940, it provides a notice for any distribution that does not consist solely of net investment income. These notices are described as informational and not for tax reporting, and they outline estimated portions of each distribution attributable to income, gains and return of capital, with final determinations made after year-end.
NBH-related news has also covered corporate actions and governance matters. One release discussed the expected closing of reorganizations in which Neuberger Berman California Municipal Fund Inc. and Neuberger Berman New York Municipal Fund Inc. were to be reorganized with and into NBH, including how the distribution at that time would apply to stockholders receiving newly issued NBH shares. A separate communication from Saba Capital Management, L.P., identifying itself as the largest shareholder of NBH and another Neuberger Berman fund, commented on shareholder voting standards and preliminary results at a joint annual meeting, providing additional context on governance debates around the fund.
This news page aggregates such items so readers can review NBH’s distribution declarations, tax-related notices, corporate actions involving other Neuberger Berman municipal funds, and external commentary on shareholder governance. Investors and observers can use this record to understand how the fund communicates its income objective, regulatory compliance and shareholder matters over time.
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On November 11, 2022, Neuberger Berman Municipal Fund (NYSE: NBH), California Municipal Fund (NYSE: NBW), and New York Municipal Fund (NYSE: NBO) announced a partial redemption of Variable Rate Municipal Term Preferred Shares (VMTP Shares). The redemption price was set at $100,000 per share plus final accumulated distributions. The Municipal Fund redeemed 200 VMTP Shares, leaving 1,457 outstanding; the California Fund redeemed 55, leaving 457 outstanding, while the New York Fund redeemed 55, leaving 365 outstanding. The Funds have not registered VMTP Shares under the Securities Act.
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On August 15, 2022, Neuberger Berman Municipal Fund (NYSE: NBH), Neuberger Berman California Municipal Fund (NYSE: NBW), and Neuberger Berman New York Municipal Fund (NYSE: NBO) announced a partial redemption of their Variable Rate Municipal Term Preferred Shares (VMTP Shares). The funds redeemed 47 VMTP Shares (NBH), 38 (NBW), and 43 (NBO) at a liquidation preference of $100,000 each, plus accrued distributions. Currently, 1,657 VMTP Shares remain in NBH, 512 in NBW, and 420 in NBO. The funds have not registered the VMTP Shares under the Securities Act, limiting their sale in the U.S.
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