MainStay MacKay DefinedTerm Municipal Opportunities Fund Declares Monthly Dividend Distribution For September

Rhea-AI Summary

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE: MMD) has declared a monthly dividend of $0.085 per common share for September 2020, consistent with previous distributions this year. The dividend will be paid on September 30, 2020, following a record date of September 15, 2020. This monthly dividend will be from the fund's net investment income and is not expected to return principal. The fund is managed by MacKay Shields LLC, part of New York Life Investments, which has $600 billion in assets under management as of June 30, 2020.

Positive

• Monthly dividend of $0.085 per share is consistent with previous distributions in 2020.
• Dividend payment scheduled for September 30, 2020, providing income to shareholders.

Negative

• None.

NEW YORK, Sept. 1, 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 September 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 September 1, 2020 and can be retrieved here.

Dividend Distribution Schedule:

Month	Declaration Date	Ex-Date	Record Date	Payable Date
September	9/1/2020	9/14/2020	9/15/2020	9/30/2020

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.

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 $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 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 Insurance Company's family of companies offers life insurance, retirement income, investments and long-term care insurance. New York Life Insurance Company 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, 5/16/19. For methodology, please see http://fortune.com/fortune500/

***Individual independent rating agency commentary as of 9/12/2019: A.M. Best (A++), Fitch (AAA), Moody's Investors Service (Aaa), Standard & Poor's (AA+) The financial strength of New York Life Insurance Company applies only to its insurance products and not to investment products which are subject to market risk and fluctuation in value.

"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.

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.

About MacKay Shields LLC

MacKay Shields LLC ("MacKay") is an indirect wholly-owned subsidiary of New York Life Insurance Company and a wholly-owned subsidiary of New York Life Investment Management Holdings LLC. MacKay is a fixed-income and equity investment management firm with $134 billion in assets under management as of June 30, 2020. MacKay manages fixed income and equity strategies for high-net worth individuals, institutional clients, and mutual funds. For more information visit www.mackayshields.com

Media Contact:
Netanel Spero | New York Life | 212-576-3814 | Netanel_d_Spero@newyorklife.com

Investors Contact:
855-456-9683

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SOURCE MacKay Shields LLC

FAQ

What is the dividend amount for MMD in September 2020?

The dividend amount for MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE: MMD) in September 2020 is $0.085 per common share.

When is the payable date for MMD's September 2020 dividend?

The payable date for MMD's September 2020 dividend is September 30, 2020.

What are the key dates for MMD's dividend distribution in September 2020?

The key dates for MMD's September 2020 dividend are: Declaration Date - September 1, 2020, Ex-Date - September 14, 2020, Record Date - September 15, 2020, and Payable Date - September 30, 2020.

Will MMD's dividend include a return of principal?

No, the dividend from MMD is expected to be derived from its monthly undistributed net investment income and will not include a return of principal.

How much is the total assets under management for New York Life Investments?

As of June 30, 2020, New York Life Investments has $600 billion in assets under management.