MAINSTAY MACKAY DEFINEDTERM MUNICIPAL OPPORTUNITIES FUND DECLARES MONTHLY DIVIDEND DISTRIBUTIONS FOR THE MONTHS OF JULY, AUGUST AND SEPTEMBER 2022

Rhea-AI Summary

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) announced monthly dividend distributions of $0.085 per common share for July, August, and September 2022. This dividend amount is consistent with the prior three months. Key dates include declaration on July 1, with the payable date on July 29. The Fund's dividends will originate from monthly undistributed net investment income, without expectation of principal return. Investors can access portfolio insights and other information via the Fund's website.

Positive

• Monthly dividends of $0.085 per share for three months indicate stable income for shareholders.
• No expected return of principal suggests a secure dividend source.

Negative

• Potential market risks including interest rate risk and credit risk may impact investment performance.

NEW YORK, July 1, 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 July, August and September 2022. This amount is consistent with the Fund's April, May and June 2022 dividend distribution, which was also $0.085 per common share.

Portfolio and municipal market commentary will be published on or around July 1, 2022 and can be retrieved here.

Dividend Distribution Schedule:

Month	Declaration Date	Ex-Date	Record Date	Payable Date
July	7/1/2022	7/14/2022	7/15/2022	7/29/2022
August	7/1/2022	8/12/2022	8/15/2022	8/31/2022
September	7/1/2022	9/14/2022	9/15/2022	9/30/2022

 

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 March 31, 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 March 31, 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 $152 billion in assets under management as of March 31, 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 July 2022?

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

When is the payable date for the MMD dividend in September 2022?

The payable date for the MMD dividend in September 2022 is September 30, 2022.

Are the dividends for MMD derived from principal?

No, the dividends for MMD are derived from monthly undistributed net investment income, with no expected return of principal.

What are the risks associated with investing in MMD?

Investing in MMD involves market risk, interest rate risk, and credit risk, which may lead to possible loss of principal.