Federated Hermes Premier Municipal Income Fund declares dividend and announces new Trustee
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Insights
The declaration of a tax-exempt dividend by Federated Hermes Premier Municipal Income Fund is a point of interest for investors seeking tax-efficient income streams. The exemption from regular federal income tax, as well as the federal alternative minimum tax (AMT), could enhance the after-tax return on investment for shareholders. This is particularly relevant in an environment where tax policy changes can significantly impact investor strategies. It is critical for investors to understand the implications of such dividends on their personal tax situations, as the benefits can vary based on individual tax brackets and state of residence.
From a financial perspective, the announcement of a dividend with no change from the previous month suggests stability in the fund's income-generating capabilities. For income-focused investors, such consistency is valuable, especially in volatile markets. However, it's important to analyze the fund's yield in relation to its net asset value (NAV) to assess the sustainability of the dividend payments. A comparison with the average municipal bond fund yields and performance could provide additional context for the fund's competitive standing within the market.
The appointment of John Carson to the Board of Trustees may not directly affect the fund's dividend policy, but it could influence the fund's strategic direction. Carson's extensive background in asset management and institutional sales could bring fresh perspectives, potentially leading to strategic shifts that might impact the fund's performance over the long term. Stakeholders should monitor any changes in investment strategy or management style that could arise from this new appointment.
Tax-Free Dividend Per Share | |
Record Date: | Jan. 23, 2024 |
Ex-Dividend Date: | Jan. 22, 2024 |
Payable Date: | Feb. 1, 2024 |
Amount | Change From Previous Month |
Investors can view additional portfolio information in the Products section of FederatedHermes.com/us.
Effective Jan. 1, 2024, John Carson joined the Board of Trustees of Federated Hermes Premier Municipal Income Fund, replacing John Collins, who retired. Carson serves as chief executive officer for NorthStar Asset Management Company. Previously, Carson was a vice president at the Glenmede Trust Company. He also served as a managing director at Oppenheimer & Company and spent more than a decade with Bank of America/Merrill Lynch as a director of institutional sales. Earlier on, Carson held similar positions for Wertheim Schroder/Schroders PLC and Drexel Burnham Lambert. Carson earned his bachelor's degree from the University of Notre Dame.
Federated Hermes, Inc. (NYSE: FHI) is a global leader in active, responsible investment management, with
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SOURCE Federated Hermes, Inc.
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