Federated Hermes Premier Municipal Income Fund declares dividend

Rhea-AI Summary

The Federated Hermes Premier Municipal Income Fund (NYSE: FMN) announced a dividend of $0.0385 per share, payable on April 3, 2023. The record date is March 23, 2023, and the ex-dividend date is March 22, 2023. This tax-free dividend income is exempt from regular federal income tax and the alternative minimum tax (AMT). The recent increase is attributed to Federal Reserve rate hikes affecting leverage costs more than portfolio income. As of December 31, 2022, Federated Hermes managed $668.9 billion in assets, providing diverse investment solutions globally.

Positive

• Declared a tax-free dividend of $0.0385 per share
• Dividend is exempt from federal income tax and AMT
• Increase in dividend reflects confidence despite cost pressures

Negative

• Dividend increase is smaller due to rising leverage costs outpacing portfolio income

PITTSBURGH, March 10, 2023 /PRNewswire/ -- Federated Hermes Premier Municipal Income Fund (NYSE: FMN) has declared a dividend. The fund seeks to provide investors with current dividend income that is exempt from regular federal income tax. In addition, this fund features income exempt from the federal alternative minimum tax (AMT).

Tax-Free Dividend Per Share

Record Date:	March 23, 2023
Ex-Dividend Date:	March 22, 2023
Payable Date:	April 3, 2023

Amount	Change From Previous Month
$0.0385	$0.0025

The change from the previous month is due to ongoing rate increases from the Federal Reserve, which have caused the fund's cost of leverage to increase more rapidly than portfolio income.

Investors can view additional portfolio information in the Products section of FederatedInvestors.com.

Federated Hermes, Inc. (NYSE: FHI) is a global leader in active, responsible investment management, with $668.9 billion in assets under management, as of Dec. 31, 2022. We deliver investment solutions that help investors target a broad range of outcomes and provide equity, fixed-income, alternative/private markets, multi-asset and liquidity management strategies to more than 11,000 institutions and intermediaries worldwide. Our clients include corporations, government entities, insurance companies, foundations and endowments, banks and broker/dealers. Headquartered in Pittsburgh, Federated Hermes has nearly 2,000 employees in London, New York and offices worldwide. For more information, visit FederatedHermes.com.

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View original content:https://www.prnewswire.com/news-releases/federated-hermes-premier-municipal-income-fund-declares-dividend-301768966.html

SOURCE Federated Hermes, Inc.

FAQ

What is the dividend amount for Federated Hermes Premier Municipal Income Fund (FMN)?

The dividend amount is $0.0385 per share.

When is the ex-dividend date for FMN?

The ex-dividend date for FMN is March 22, 2023.

When will the dividend for FMN be payable?

The dividend will be payable on April 3, 2023.

What are the tax benefits of the dividend declared by FMN?

The dividend is exempt from regular federal income tax and alternative minimum tax (AMT).

What factors influenced the recent dividend declaration for FMN?

The increase in dividend is attributed to ongoing rate increases from the Federal Reserve affecting leverage costs.