MAINSTAY MACKAY DEFINEDTERM MUNICIPAL OPPORTUNITIES FUND DECLARES MONTHLY DIVIDEND DISTRIBUTIONS FOR THE MONTHS OF APRIL, MAY AND JUNE 2023

Rhea-AI Summary

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE: MMD) announced a monthly dividend of $0.075 per common share for April, May, and June 2023, a decrease from the previous $0.080 distribution. The dividend is derived from undistributed net investment income and will not include a return of principal. The declaration dates for the dividends are April 3, 2023, followed by ex-dates on April 13, May 12, and June 14, with payable dates on April 28, May 31, and June 30, 2023. Investors can access further insights on the portfolio and municipal market via the company’s website.

Positive

• Monthly dividend distribution of $0.075 for April, May, and June 2023 maintains a cash flow for investors.
• The dividend will be derived from net investment income, indicating a sustainable payout structure.

Negative

• Decrease in dividend from $0.080 to $0.075 might signal potential cash flow concerns.

NEW YORK, April 3, 2023 /PRNewswire/ -- MainStay MacKay DefinedTerm Municipal Opportunities Fund (the "Fund") (NYSE: MMD) today announced monthly dividend distributions of $0.075 per common share for the months of April, May and June 2023. This amount represents a decrease from the Fund's January, February and March 2023 dividend distributions, which were $0.080 per common share.

Portfolio and municipal market commentary will be published on or around April 3, 2023 and can be retrieved here.

Dividend Distribution Schedule:

Month	Declaration Date	Ex-Date	Record Date	Payable Date
April	4/3/2023	4/13/2023	4/14/2023	4/28/2023
May	4/3/2023	5/12/2023	5/15/2023	5/31/2023
June	4/3/2023	6/14/2023	6/15/2023	6/30/2023

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 $660 billion in Assets Under Management* as of December 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 December 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 $129 billion in assets under management as of December 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 for April 2023?

The dividend amount for MMD for April 2023 is $0.075 per common share.

What are the payment dates for MMD's dividends in 2023?

The payment dates for MMD's dividends are April 28, May 31, and June 30, 2023.

Why did MMD reduce its dividend from $0.080 to $0.075?

MMD reduced its dividend to $0.075 due to changes in its undistributed net investment income.

Where can I find more information about MMD's dividend distribution?

More information about MMD's dividend distribution can be found on the New York Life Investments website.