Alliance National Municipal Income Fund, Inc. - AFB STOCK NEWS

AllianceBernstein Closed-End Funds have announced their latest distribution rates. The AllianceBernstein Global High Income Fund (NYSE: AWF) will distribute $0.0655 per share of investment income. The AllianceBernstein National Municipal Income Fund (NYSE: AFB) will distribute $0.03589 per share, an increase of $0.00323 from its previous distribution.

For both funds, the ex-date, record date, and payment date are set for September 5, 2024, September 5, 2024, and September 20, 2024, respectively. The increase in AFB's distribution rate is aimed at aligning monthly distributions with current and projected earnings power. These closed-end funds are managed by AllianceBernstein L.P.

AllianceBernstein National Municipal Income Fund, Inc. (NYSE: AFB) has released its monthly portfolio update as of July 31, 2024. The fund's top fixed-income holding is Lamar Consolidated Independent School District Series 2024-2 at 2.72% of the portfolio. The sector breakdown shows Revenue as the largest at 51.25%, followed by Tax Supported at 29.20%. Texas leads the state allocation at 18.42%, with Illinois and New York following. Credit quality is predominantly in the A to AA range, with 28.01% rated A and 27.95% rated AA. The fund's total leverage is 39.58%, with a total net asset value of $363.57 million. The average coupon is 4.54%, with an average maturity of 10.52 years and an effective duration of 8.14 years.

AllianceBernstein National Municipal Income Fund (NYSE: AFB) has announced a conference call scheduled for Monday, August 26, 2024, at 4:30 p.m. Eastern Time. Fund representatives will lead the discussion during this live event. Interested participants can join using the following toll-free numbers:

• USA + Canada: (800) 715-9871
• USA/International: +1 (646) 307-1963
• Canada - Toronto: (647) 932-3411

The Conference ID is 1665940. Callers are advised to dial in approximately 15 minutes before the scheduled start time. A written summary of the call will be available on the fund's website, www.abfunds.com, within 24 hours after the call concludes. AFB is a registered closed-end management investment company managed by AllianceBernstein L.P.

AllianceBernstein Closed-End Funds has announced distribution rates for two of its funds. AllianceBernstein Global High Income Fund (NYSE: AWF) will distribute $0.0655 per share of investment income, while AllianceBernstein National Municipal Income Fund (NYSE: AFB) will distribute $0.03266 per share of investment income.

For both funds, the ex-date, record date, and payment date are set for August 1, 2024, August 1, 2024, and August 16, 2024, respectively. These distributions were declared on July 22, 2024. AllianceBernstein L.P. manages both closed-end funds.

AllianceBernstein National Municipal Income Fund, Inc. (NYSE: AFB) has released its monthly portfolio update as of June 30, 2024. The fund's top holdings include municipal bonds from various school districts and cities, with Lamar Consolidated Independent School District bonds leading at 2.73%. The portfolio is diversified across sectors, with Health Care - Not-for-Profit being the largest at 12.72%. Texas represents the highest state allocation at 18.33%. The fund's credit quality is predominantly in the AA to A range, with 56.92% of the portfolio in these categories. The majority of bonds (57.95%) have maturities between 20 to 30 years. The fund employs 39.54% leverage through various instruments. With total net assets of $359.51 Million, the fund has 160 holdings and a portfolio turnover of 55.00%.

The AllianceBernstein Closed-End Funds have announced their distribution rates for July 2024. Specifically, the AllianceBernstein Global High Income Fund (NYSE: AWF) will distribute $0.0655 per share of investment income, while the AllianceBernstein National Municipal Income Fund (NYSE: AFB) is set to distribute $0.03266 per share of investment income. Both funds have an ex-date and record date of July 11, 2024, with the payment date scheduled for July 26, 2024.

AllianceBernstein L.P. manages these funds. For more details, visit the original press release at the provided link.

On July 1, 2024, AllianceBernstein National Municipal Income Fund (NYSE: AFB) published its monthly portfolio update as of May 31, 2024. The top holdings include Lamar Consolidated Independent School District Series 2023-A at 2.70% and the City of New Orleans LA Series 2021-A at 2.66%. The portfolio’s sector breakdown shows significant investments in Health Care - Not-for-Profit (13.04%) and Prepay Energy (7.16%). Texas leads the state breakdown with an 18.00% share, followed by Illinois at 9.66% and Michigan at 5.87%. The portfolio is mainly composed of high-quality bonds with 18.54% rated AAA and 28.80% rated AA, and has a total net asset value of $350.33 million. The portfolio turnover is 55.00%, and the average maturity is 12.14 years with an effective duration of 8.77 years. The fund's leverage stands at 41.74%.

On June 28, 2024, AllianceBernstein National Municipal Income Fund (NYSE: AFB) reported its Q2 earnings for the period ending April 30, 2024. The total net assets decreased to $350.6 million from $364.5 million on January 31, 2024, and $356.5 million on April 30, 2023.

The NAV per share declined to $12.20 from $12.68 on January 31, 2024, and $12.40 on April 30, 2023. The fund posted a total net investment income of $2.8 million, translating to $0.10 per share, for the quarter.

However, the total net realized and unrealized loss stood at $13.9 million, or $0.48 per share, versus a gain of $52.7 million in the previous quarter and a loss of $6.6 million in Q2 of the previous year. The fund's shares outstanding remained unchanged at 28,744,936.

AllianceBernstein National Municipal Income Fund (NYSE: AFB) announced the successful pricing and placement of $100 million in Variable Rate Demand Preferred Shares (2024 VRDPS), exempt from registration under the Securities Act of 1933. The proceeds, combined with funds from tender option bond trusts, were used to redeem all outstanding 2019 Variable Rate MuniFund Term Preferred Shares (2019 VMTPS) at $25,000 per share, plus accumulated but unpaid dividends. The total payout for the redemption was $143.85 million. This move replaces a significant portion of the leverage previously held through the 2019 VMTPS with the new 2024 VRDPS.