MAINSTAY MACKAY DEFINEDTERM MUNICIPAL OPPORTUNITIES FUND DECLARES MONTHLY DIVIDEND DISTRIBUTIONS FOR THE MONTHS OF OCTOBER, NOVEMBER AND DECEMBER 2022

Rhea-AI Summary

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) announced monthly dividends of $0.085 per common share for October, November, and December 2022, maintaining the previous distribution rate. The dividends result from the Fund's undistributed net investment income and are not expected to involve a return of principal. Key dates include the declaration date on October 3, 2022, and payment dates at the end of each respective month. For further details on the Fund's performance and market commentary, visit the provided New York Life Investments link.

Positive

• Monthly dividends maintained at $0.085 per share for three consecutive months.
• Dividends are derived from undistributed net investment income.

Negative

• Market risk, interest rate risk, and credit risk are inherent in the investment.

NEW YORK, Oct. 3, 2022 /PRNewswire/ -- MainStay MacKay DefinedTerm Municipal Opportunities Fund (the "Fund") (NYSE:MMD) today announced monthly dividend distributions of $0.085 per common share for the months of October, November and December 2022. This amount is consistent with the Fund's July, August and September 2022 dividend distribution, which was also $0.085 per common share.

Portfolio and municipal market commentary will be published on or around October 3, 2022 and can be retrieved here.

Dividend Distribution Schedule:

Month	Declaration Date	Ex-Date	Record Date	Payable Date
October	10/3/2022	10/13/2022	10/14/2022	10/31/2022
November	10/3/2022	11/14/2022	11/15/2022	11/30/2022
December	10/3/2022	12/14/2022	12/15/2022	12/30/2022

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 $650 billion in Assets Under Management* as of June 30, 2022, New York Life Investments 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.

*AUM includes assets of Investment Advisors affiliated with New York Life Insurance Company as of June 30, 2022. AUM for Candriam and Ausbil is reported at the spot rate.

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 $132 billion in assets under management as of June 30, 2022. 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, UCITS, ETFs, closed end funds and mutual funds. 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.

Media Contact:
Allison Scott | New York Life | (212) 576-4517 | Allison_Scott@nylim.com

Investors Contact:
855-456-9683

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SOURCE New York Life Investments

FAQ

What is the dividend amount for MMD in October 2022?

The dividend amount for MMD in October 2022 is $0.085 per common share.

When is the payable date for the MMD dividends?

The payable dates for the dividends are October 31, November 30, and December 30, 2022.

What are the risks associated with investing in MMD?

Investing in MMD involves market risk, interest rate risk, credit risk, and potential loss of principal.

How frequently does MMD distribute dividends?

MMD distributes dividends on a monthly basis.