Neuberger Berman Municipal Fund Inc. reports recurring distribution activity for its municipal bond fund. The fund seeks income exempt from regular federal income tax and announces common stock distributions with record, ex-dividend and payment dates. Its distribution updates also describe potential tax character, including net investment income, realized capital gains and return of capital, as well as possible federal alternative minimum tax treatment and Section 19 notices when a distribution is not solely net investment income.
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Neuberger Berman Municipal Fund (NBH), California Municipal Fund (NBW), and New York Municipal Fund (NBO) have announced decreases in their monthly distribution rates, effective February 2023. NBH's distribution drops to $0.03774 from $0.05025, NBW to $0.0254 from $0.04480, and NBO to $0.024233 from $0.03933. These changes reflect current municipal market yields, leverage costs, and undistributed net investment income. The new annualized distributions are $0.45288 for NBH, $0.3048 for NBW, and $0.290796 for NBO, with payout dates set for March 15, 2023. The Funds aim to provide income exempt from federal and local taxes.
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