MainStay MacKay DefinedTerm Municipal Opportunities Fund Declares Monthly Dividend Distributions for the Months of July, August, and September 2024

Rhea-AI Summary

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE: MMD) announced a consistent monthly dividend distribution of $0.06 per common share for July, August, and September 2024.

This is in line with the previous quarter's distribution. The dividends will be paid on July 31, August 30, and September 30, 2024, to shareholders on record as of July 15, August 15, and September 16, 2024, respectively.

The dividends are derived from the Fund’s monthly undistributed net investment income, with no expected return of principal. Risks include market risk, interest rate risk, and possible loss of principal.

Positive

• Consistent monthly dividend distribution of $0.06 per share for Q3 2024.
• Dividends derived from monthly undistributed net investment income, indicating stable income generation.

Negative

• Shares of closed-end funds like MMD frequently trade at a discount from their net asset value, increasing investor risk.
• There are inherent risks including market risk, interest rate risk, credit risk, and possible loss of principal.

NEW YORK--(BUSINESS WIRE)-- MainStay MacKay DefinedTerm Municipal Opportunities Fund (the “Fund”) (NYSE:MMD) today announced monthly dividend distributions of $0.06 per common share for the months of July, August, and September 2024. This amount is consistent with the Fund’s April, May, and June 2024 dividend distribution, which was also $0.06 per common share.

Portfolio and municipal market commentary will be published on or around July 1, 2024 and can be retrieved here.

Dividend Distribution Schedule:

Month	Declaration Date	Ex-Date	Record Date	Payable Date
July	7/1/2024	7/15/2024	7/15/2024	7/31/2024
August	7/1/2024	8/15/2024	8/15/2024	8/30/2024
September	7/1/2024	9/16/2024	9/16/2024	9/30/2024

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.

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.

About New York Life Investments

With over $725 billion in Assets Under Management* as of March 31, 2024, New York Life Investments, Pensions and Investments’ Top 30 Largest Money Manager**, is comprised of the affiliated global asset management businesses of its parent company, New York Life Insurance Company, 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.

*Assets under management (AUM) includes assets of the investment advisers affiliated with New York Life Insurance Company, other than Kartesia Management. As of 12/31/2022 New York Life Investments changed its AUM calculation methodology, and AUM now includes certain assets, such as non-discretionary AUM, external fund selection, and overlay services, including ESG screening services, advisory consulting services, white labeling investment management services, and model portfolio delivery services, that do not qualify as Regulatory Assets Under Management, as defined in the SEC's Form ADV. AUM is reported in USD. AUM not denominated in USD is converted at the spot rate as of 3/31/2023. This total AUM figure is less than the sum of the AUM of each affiliated investment adviser in the group because it does not count AUM where the same assets can be counted by more than one affiliated investment adviser.

** On June 10, 2024, New York Life Investments was ranked #26 in Pensions & Investments’ Largest Money Managers 2024 for the time period 12/31/22 – 12/31/23. (Managers are ranked by total worldwide institutional assets under management. Full list here.) No direct or indirect compensation was paid for the creation and distribution of this ranking. For more information about ranking click here - Largest Money Managers 2023 | Pensions & Investments (pionline.com)

"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 MacKay Municipal Managers™

MacKay Municipal Managers™ is a recognized leader in active municipal bond investing and is entrusted with $76 billion in assets under management, as of 3/31/24. The team manages a suite of highly rated municipal bond solutions available in multiple vehicles. MacKay Municipal Managers™ is a fundamental relative-value bond manager that combines a top-down approach with bottom-up, credit research. Our investment philosophy is centered on the belief that strong long-term performance can be achieved with a relative value, research driven approach in a highly fragmented, inefficient municipal bond market.

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 $143 billion in assets under management** as of March 31, 2024. MacKay manages fixed income strategies for high-net worth individuals and institutional clients through separately managed accounts and collective investment vehicles including private funds, UCITS, ETFs, closed end funds and mutual funds. MacKay provides investors with specialty fixed income expertise across global fixed income markets including municipal bonds, structured credit, corporate credit and emerging markets debt. The MacKay Shields client experience provides investors direct access to senior investment professionals. MacKay maintains offices in New York City, Princeton, Los Angeles, London and Dublin. For more information, please visit www.mackayshields.com or follow us on Twitter or LinkedIn.

*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.

** Assets under management (AUM) as of March 31, 2024 represents assets managed by MacKay Shields LLC and its subsidiaries but excludes certain accounts and other assets over which MacKay Shields continues to exercise discretionary authority to liquidate but which are no longer actively managed.

SMRU No. 5764330

View source version on businesswire.com: https://www.businesswire.com/news/home/20240701768443/en/

Media:

Sara Guenoun | New York Life | (212) 576-4757 | Sara_j_Guenoun@newyorklife.com

Investors:

855-456-9683

Source: New York Life Investments Company

FAQ

What is the dividend amount for MainStay MacKay DefinedTerm Municipal Opportunities Fund in Q3 2024?

The dividend amount is $0.06 per common share for the months of July, August, and September 2024.

When will the dividends be paid for MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE: MMD) in Q3 2024?

The dividends will be paid on July 31, August 30, and September 30, 2024.

What are the record dates for MainStay MacKay DefinedTerm Municipal Opportunities Fund dividends in Q3 2024?

The record dates are July 15, August 15, and September 16, 2024.

Is the dividend of MainStay MacKay DefinedTerm Municipal Opportunities Fund expected to include a return of principal?

No, the dividend is derived from the Fund’s monthly undistributed net investment income and is not expected to contain any return of principal.

What are the risks associated with investing in MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE: MMD)?

The risks include market risk, interest rate risk, credit risk, and the possible loss of principal. Shares of closed-end funds frequently trade at a discount from their net asset value, which may increase investor risk.