MainStay MacKay DefinedTerm Municipal Opportunities Fund Declares Monthly Dividend Distribution For November 2020

Rhea-AI Summary

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE: MMD) has declared a monthly dividend of $0.085 per common share for November 2020, consistent with previous distributions in 2020. The declaration date is November 2, 2020, with an ex-date of November 13, 2020, a record date of November 16, 2020, and a payable date of November 30, 2020. The dividend will be sourced from the Fund's undistributed net investment income, with no expected return of principal. The Fund manages approximately $144 billion in assets as of August 31, 2020.

Positive

• Monthly dividend of $0.085 per share maintained for November 2020 indicates stable income for shareholders.
• The Fund's management has a substantial asset base of $144 billion, reflecting strong operational capacity.

Negative

• None.

NEW YORK, Nov. 2, 2020 /PRNewswire/ -- MainStay MacKay DefinedTerm Municipal Opportunities Fund (the "Fund") (NYSE: MMD) today announced the monthly dividend distribution of $0.085 per common share for the month of November 2020. This amount is consistent with the Fund's prior dividend distributions in 2020, which were also $0.085 per common share.

Portfolio and municipal market commentary will be published on or around November 2, 2020 and can be retrieved here.

Dividend Distribution Schedule:

Month	Declaration Date	Ex-Date	Record Date	Payable Date
November	11/2/2020	11/13/2020	11/16/2020	11/30/2020

The Fund's dividend will be derived from its monthly undistributed net investment income and is not expected to contain any return of principal.

The Fund's daily New York Stock Exchange closing prices, net asset values per share, as well as other information are available by clicking here or by calling the Fund's shareholder servicing agent at (855) 456-9683.

For more insights from MacKay Municipal Managers™ and our New York Life Investments affiliates click here.

About MacKay Shields LLC
MacKay Shields LLC (together with its subsidiaries, "MacKay") *, a New York Life Investments Company, is a global asset management firm with $144 billion in assets under management as of August 31, 2020. MacKay manages fixed income and equity strategies for high-net worth individuals and institutional clients, through separately managed accounts and collective investment vehicles including private funds, CLOs, UCITS, ETFs, closed end funds and mutual funds. MacKay maintains offices in New York City, Princeton, Los Angeles, London and Dublin. For more information visit www.mackayshields.com and connect with us on LinkedIn and Twitter.

*MacKay Shields is a wholly owned subsidiary of New York Life Investment Management Holdings LLC, which is wholly owned by New York Life Insurance Company.

About New York Life Investments
With $600 billion in Assets Under Management* as of June 30, 2020, New York Life Investments is comprised of the affiliated global asset management businesses of its parent company, New York Life Insurance Company (New York Life), and offers clients access to specialized, independent investment teams through its family of affiliated boutiques. New York Life Investments remains committed to clients through a combination of the diverse perspectives of its boutiques and a long-lasting focus on sustainable relationships. "

New York Life Investments is both a service mark, and the common trade name of certain investment advisors affiliated with New York Life Insurance Company.

About New York Life
New York Life Insurance Company (www.newyorklife.com), a Fortune 100 company founded in 1845, is the largest mutual life insurance company in the United States** and one of the largest life insurers in the world. Headquartered in New York City, New York Life's family of companies offers life insurance, retirement income, investments and long-term care insurance. New York Life has the highest financial strength ratings currently awarded to any U.S. life insurer from all four of the major credit rating agencies***.

*AUM includes assets of Investment Advisors affiliated with New York Life Insurance Company as of June 30, 2020. AUM for Candriam and Ausbil is reported at the spot rate.

**Based on revenue as reported by "Fortune 500 ranked within Industries, Insurance: Life, Health (Mutual)," Fortune magazine, 5/18/20. For methodology, please see http://fortune.com/fortune500/.

***Individual independent rating agency commentary as of 9/12/19: A.M. Best (A++), Fitch (AAA), Moody's Investors Service (Aaa), Standard & Poor's (AA+).

There are risks inherent in any investment, including market risk, interest rate risk, credit risk and the possible loss of principal. There can be no assurance that the Fund's investment objectives will be achieved. Shares of closed-end funds frequently trade at a discount from their net asset value, which may increase investor risk.

For more information about MainStay Funds®, call 800-624-6782 for a prospectus or summary prospectus. Investors are asked to consider the investment objectives, risks, and charges and expenses of the investment carefully before investing. The prospectus or summary prospectus contains this and other information about the investment company. Please read the prospectus or summary prospectus carefully before investing.

MainStay Funds^® are managed by New York Life Investment Management LLC and distributed by NYLIFE Distributors LLC, 30 Hudson Street, Jersey City, NJ 07302, a wholly owned subsidiary of New York Life Insurance Company. NYLIFE Distributors LLC is a Member FINRA/SIPC.

Media Contact:
Allison Scott | New York Life | (917) 579-8914 | allison_scott@nylim.com

Investors Contact:
855-456-9683

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SOURCE MacKay Shields LLC

FAQ

What is the dividend amount for MMD for November 2020?

The dividend amount for MMD for November 2020 is $0.085 per common share.

When is the ex-dividend date for MMD's November 2020 dividend?

The ex-dividend date for MMD's November 2020 dividend is November 13, 2020.

When will the MMD dividend be paid out?

The MMD dividend will be paid out on November 30, 2020.

Is the MMD dividend derived from net investment income?

Yes, the MMD dividend will be derived from its monthly undistributed net investment income.

How much assets does MMD manage?

As of August 31, 2020, MMD manages approximately $144 billion in assets.