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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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