Welcome to our dedicated page for abrdn National Municipal Income Fund news (Ticker: VFL), a resource for investors and traders seeking the latest updates and insights on abrdn National Municipal Income Fund stock.
abrdn National Municipal Income Fund (VFL) reports developments for a closed-end municipal bond fund seeking current income exempt from regular federal income tax, consistent with preservation of capital. The fund invests in municipal bonds and has used variable-rate preferred shares as leverage within its capital structure.
Recurring news includes monthly distribution declarations, distribution-rate changes, open-market share repurchase authorization, Board and shareholder actions, adviser arrangements with abrdn Inc., and updates to fund investment policies. Coverage also reflects closed-end fund topics such as net asset value discounts or premiums, exchange listing, leverage, governance, and shareholder voting matters.
abrdn National Municipal Income Fund (NYSE American: VFL) has announced a 10% increase in its monthly distribution from $0.045 to $0.05 per share, effective September 30, 2024. This change raises the Fund's NAV distribution rate from 4.4% to 4.9% and the share price distribution rate from 4.9% to 5.4%. Since abrdn assumed management in July 2023, the distribution has increased by approximately 54%.
Additionally, the Fund's Board has authorized an open market share repurchase program, allowing the repurchase of up to 10% of outstanding shares in any 12-month period. This program aims to improve market liquidity and potentially increase per share NAV for long-term shareholders. The Fund seeks to provide current income exempt from regular federal income tax while preserving capital by investing in municipal bonds.
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Delaware Investments National Municipal Income Fund (NYSE American: VFL) has declared a monthly distribution of $0.0450 per share, payable on April 28, 2023. Shareholders of record will be noted at the close of business on April 21, 2023, with the ex-dividend date set for April 20, 2023. The fund aims to provide income exempt from federal taxes while preserving capital, using leveraged techniques for potentially higher returns. It currently utilizes variable-rate preferred shares for leverage. However, there are no assurances that investment objectives will be met.
The Delaware Investments National Municipal Income Fund (AMEX: VFL) held a Special Meeting of Shareholders on March 8, 2023, where shareholders approved two key proposals. The first proposal was a new investment management agreement with abrdn Inc., receiving 5,453,641 votes in favor against 384,244 opposed. The second proposal involved the election of four new trustees from existing abrdn funds, which garnered substantial support, with 7,579,827 votes for one trustee. The Fund's adoption is expected to finalize around June 9, 2023, pending customary closing conditions. As of December 22, 2022, the Fund had 12,278,003.15 common shares outstanding.