Neuberger Berman Municipal Fund Announces Monthly Distribution
Neuberger Berman Municipal Fund Inc. (NBH) has recently announced its monthly distribution for shareholders, revealing a distribution of $0.05417 per share of common stock. This distribution is intended to provide income that may be exempt from federal income tax, benefiting investors.
Key Payment Dates for Shareholders
The distribution is set to be paid out on October 15 of next year. It's important for shareholders to be aware of the record date, which is September 30. This date will also serve as the ex-date for the distribution. Keeping track of these dates is crucial for investors monitoring their shares in the fund.
Extension of Preferred Shares' Duration
In another key update, the fund has announced an extension of the term for its existing Variable Rate Municipal Term Preferred Shares. The new termination date has been moved to December 14, 2029. This extension offers reassurance to both current and prospective investors about the stability and longevity of their investments.
Preferred Shares Regulations Explained
Please note that the fund has not registered any Preferred Shares under the Securities Act of 1933. Therefore, these shares cannot be offered or sold unless specific exemptions apply. Current holders of the Preferred Shares retain certain rights, which allow them to request registration under specific conditions, ensuring their investments remain protected under the regulatory framework.
Breakdown of Distribution Components
The distributions provided by the fund may include various elements such as net investment income, realized capital gains, and potential returns of capital. Shareholders should understand that if the fund distributes more than its net investment income in any given year, those extra distributions may include gains or returns of capital. This can affect the net asset value (NAV) per share and could alter the cost basis for investors.
A Closer Look at Neuberger Berman
Neuberger Berman, the investment management firm behind the Municipal Fund, has a strong track record of management excellence since its establishment in 1939. Today, the firm manages a substantial portfolio of $481 billion across various asset classes including equities, fixed income, private equity, real estate, and hedge funds. With a firm commitment to active management and fundamental research, Neuberger Berman prioritizes the needs of its investors.
Dedication to Responsible Investing
The firm has been recognized by the PRI as part of the Leaders Group, which honors fewer than 1% of investment firms for their excellence in environmental, social, and governance (ESG) practices. This accolade reflects Neuberger Berman’s commitment to ethical and sustainable investing, enabling clients to align their portfolios with responsible practices.
A Top Workplace in Finance
For more than ten years, Neuberger Berman has been ranked as one of the best places to work in the money management industry. This recognition is a testament to the company’s positive workplace culture and its commitment to excellence and employee satisfaction.
Contact Information
If you want to learn more or have questions regarding investments, Neuberger Berman Investment Advisers LLC offers direct access to investor resources. You can reach out by 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.
