ALLIANCEBERNSTEIN NATIONAL MUNICIPAL INCOME FUND, INC. REPORTS FIRST QUARTER EARNINGS

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AllianceBernstein National Municipal Income Fund (NYSE: AFB) reported its Q1 earnings for the fiscal period ending January 31, 2022. Total net assets decreased to $422.74 million from $438.68 million in Q4 2021 and $448.54 million a year earlier. The net asset value per share fell to $14.71. The fund generated net investment income of $4.42 million or $0.15 per share, while realizing a total net loss of ($15.77 million) or ($0.55) per share.

Positive

• Net investment income remained stable at $4.42 million compared to $4.45 million in Q4 2021.
• Total shares outstanding remained consistent at 28,744,936.

Negative

• Total net assets decreased from $438.68 million in Q4 2021 to $422.74 million in Q1 2022.
• Net asset value per share declined from $15.26 to $14.71.
• Total net realized and unrealized losses totaled ($15.77 million) compared to ($12.93 million) in Q4 2021.

NEW YORK, March 25, 2022 /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc. (NYSE: AFB), a registered closed‑end investment company, today announced earnings for the Fund's first fiscal quarter ended January 31, 2022.

Total net assets of the Fund* on January 31, 2022 were $422,744,994 as compared with $438,682,698 on October 31, 2021, and $448,543,964 on January 31, 2021. On January 31, 2022, the net asset value per share of common stock was $14.71 based on 28,744,936 shares of common stock outstanding.

	January 31, 2022	October 31, 2021	January 31, 2021
Total Net Assets	$422,744,994	$438,682,698	$448,543,964
NAV Per Share	$14.71	$15.26	$15.60
Shares Outstanding	28,744,936	28,744,936	28,744,936

For the period November 1, 2021 through January 31, 2022, total net investment income was $4,421,682 or $0.15 per share of common stock. The total net realized and unrealized loss was ($15,766,520) or ($0.55) per share of common stock for the same period.

	First Quarter Ended January 31, 2022	Fourth Quarter Ended October 31, 2021	First Quarter Ended January 31, 2021
Total Net Investment          Income	$4,421,682	$4,447,825	$4,596,447
Per Share	$0.15	$0.15	$0.16
Total Net Realized/   Unrealized Gain (Loss)	($15,766,520)	($12,929,031)	$19,115,976
Per Share	($0.55)	($0.45)	$0.67

* Total net assets include assets attributable to both common and preferred shares.

AllianceBernstein National Municipal Income Fund, Inc. is managed by AllianceBernstein L.P.

View original content:https://www.prnewswire.com/news-releases/alliancebernstein-national-municipal-income-fund-inc-reports-first-quarter-earnings-301511005.html

SOURCE AllianceBernstein National Municipal Income Fund, Inc.

FAQ

What were the earnings results for AFB in Q1 2022?

For Q1 2022, AFB reported net investment income of $4.42 million or $0.15 per share, with total net realized and unrealized losses of ($15.77 million) or ($0.55) per share.

How did AFB's total net assets change in January 2022?

AFB's total net assets declined from $438.68 million in October 2021 to $422.74 million as of January 31, 2022.

What is the current NAV per share for AllianceBernstein National Municipal Income Fund?

As of January 31, 2022, the net asset value (NAV) per share for AFB was $14.71.

What significant losses did AFB report for the first quarter?

AFB reported total net realized and unrealized losses of ($15.77 million) for the first quarter ended January 31, 2022.