Monthly Distribution Declared by Neuberger Berman Fund
Neuberger Berman Municipal Fund Declares Monthly Distribution
Neuberger Berman Municipal Fund Inc. (NBH) recently made an exciting announcement regarding its monthly distribution for shareholders. The fund has declared a distribution of $0.05417 per share of common stock. This distribution aims to provide income that may be exempt from federal income tax for investors.
Important Payment Dates for Shareholders
The declared distribution is set to be paid on October 15 of the upcoming year, making it essential for shareholders to take note of the record date, which falls on September 30. Additionally, September 30 will also serve as the ex-date for this distribution. These dates are critical for investors monitoring their positions within the fund.
Extension of Preferred Shares' Term
An important update from the fund also addresses the extension of the term of its existing Variable Rate Municipal Term Preferred Shares. The new termination date for these shares has been pushed back to December 14, 2029. This extension provides current and potential investors with additional assurance regarding the stability and longevity of their investments.
Understanding Preferred Shares Regulations
It's important to note that the fund has not registered any Preferred Shares under the Securities Act of 1933. As such, these shares cannot be offered or sold except under specific exemptions. Current holders of the Preferred Shares retain certain rights that allow them to request registration under specific conditions, ensuring that their investment remains protected within the regulatory framework.
Distribution Components and Characteristics
The distributions issued by the fund may comprise different elements, including net investment income, realized capital gains, and potential returns of capital. It’s essential for shareholders to recognize that if the fund distributes more than its net investment income in any given year, these additional distributions can include gains or returns of capital. Such distributions can impact the net asset value (NAV) per share and could adjust the cost basis for investors.
A Closer Look at Neuberger Berman
Neuberger Berman, the investment management firm behind the Municipal Fund, has maintained a reputation for management excellence since its founding in 1939. Presently, the firm oversees an impressive portfolio of $481 billion across various asset classes, including equities, fixed income, private equity, real estate, and hedge funds. With a strong commitment to active management and fundamental research, Neuberger Berman continues to prioritize investor needs.
Commitment to Responsible Investing
The firm was recognized by the PRI as part of the Leaders Group, which honors fewer than 1% of investment firms for excellence in environmental, social, and governance (ESG) practices. This acknowledgment demonstrates Neuberger Berman’s commitment to responsible and sustainable investing, allowing clients to align their investments with ethical practices.
A Top Workplace in Finance
For over a decade, Neuberger Berman has consistently ranked as one of the best places to work in the money management sector. This recognition reflects not only the company’s workplace environment but also its overall commitment to excellence and employee satisfaction.
Company Contact Information
For those who wish to learn more or have inquiries regarding investments, Neuberger Berman Investment Advisers LLC offers direct access to its investor information resources. Investors can reach out via phone at (877) 461-1899 for assistance.
Frequently Asked Questions
What is the declared monthly distribution for NBH?
The Neuberger Berman Municipal Fund has declared a monthly distribution of $0.05417 per common share.
When will the distribution be paid?
The distribution is scheduled to be paid on October 15 of the upcoming year.
What is the new term for the Preferred Shares?
The term for the Variable Rate Municipal Term Preferred Shares has been extended to December 14, 2029.
How does the distribution affect the NAV?
If the distribution includes a return of capital, it may lead to a decrease in the NAV per share and adjust the investors’ cost basis.
How can I contact Neuberger Berman for more information?
Investors can contact Neuberger Berman Investment Advisers LLC at (877) 461-1899 for inquiries and further information.
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