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

Rhea-AI Summary

AllianceBernstein National Municipal Income Fund (NYSE: AFB) reported a decline in total net assets to $324.48 million as of October 31, 2022, down from $438.68 million a year prior. The net asset value per share also dropped to $11.29.

For Q4, 2022, the fund generated $3.48 million in net investment income, equivalent to $0.12 per share. However, it reported a significant net loss of $52.47 million or ($1.83) per share, highlighting challenges in performance.

Positive

• Total net investment income increased slightly to $3.48 million from $3.87 million in the previous quarter.

Negative

• Total net assets decreased by $52.85 million compared to the previous quarter and $114.20 million year-over-year.
• NAV per share fell from $13.13 in July 2022 and $15.26 in October 2021 to $11.29.
• Total net realized and unrealized losses amounted to $52.47 million, indicating substantial declines in value.

NEW YORK, Dec. 30, 2022 /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc. (NYSE: AFB), a registered closed‑end investment company, today announced earnings for the Fund's fourth fiscal quarter ended October 31, 2022.

Total net assets of the Fund* on October 31, 2022 were $324,484,588 as compared with $377,335,035 on July 31, 2022, and $438,682,698 on October 31, 2021. On October 31, 2022, the net asset value per share of common stock was $11.29 based on 28,744,936 shares of common stock outstanding.

	October 31, 2022	July 31, 2022	October 31, 2021
Total Net Assets	$324,484,588	$377,335,035	$438,682,698
NAV Per Share	$11.29	$13.13	$15.26
Shares Outstanding	28,744,936	28,744,936	28,744,936

For the period August 1, 2022 through October 31, 2022, total net investment income was $3,484,836 or $0.12 per share of common stock. The total net realized and unrealized loss was $52,472,826 or $1.83 per share of common stock for the same period.

	Fourth Quarter Ended October 31, 2022	Third Quarter Ended July 31, 2022	Fourth Quarter Ended October 31, 2021
Total Net Investment          Income	$3,484,836	$3,877,740	$4,447,825
Per Share	$0.12	$0.13	$0.15
Total Net Realized/   Unrealized Gain (Loss)	($52,472,826)	$4,104,226	($12,929,031)
Per Share	($1.83)	$0.14	($0.45)

* 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-fourth-quarter-earnings-301711523.html

SOURCE AllianceBernstein National Municipal Income Fund, Inc.

FAQ

What were the earnings of AFB for the fourth quarter of 2022?

AFB reported net investment income of $3.48 million or $0.12 per share for Q4 2022.

How did the total net assets of AFB change from July to October 2022?

Total net assets of AFB decreased from $377.34 million on July 31, 2022, to $324.48 million on October 31, 2022.

What is the NAV per share reported by AFB for October 2022?

The NAV per share for AFB as of October 31, 2022, was $11.29.

What significant loss did AFB report for its fourth fiscal quarter?

AFB reported a total net realized and unrealized loss of $52.47 million, or $1.83 per share.