NEUBERGER BERMAN MUNICIPAL FUND ANNOUNCES MONTHLY DISTRIBUTION

Rhea-AI Summary

Neuberger Berman Municipal Fund has declared a monthly distribution of $0.05417 per share of common stock. The distribution is payable on December 16, 2024, with a record and ex-date of November 29, 2024. The Fund aims to provide income exempt from regular federal income tax, though distributions may be subject to federal alternative minimum tax for some stockholders. Distributions can include net investment income, realized capital gains, and return of capital, which may affect NAV per share and investor cost basis.

Positive

• Regular monthly distribution maintained
• Tax-exempt income structure for regular federal income tax

Negative

• Potential NAV decline if distribution includes return of capital
• Possible reduction in investor cost basis
• Distributions may be subject to alternative minimum tax

Insights

Financial Analyst

This monthly distribution announcement represents a $0.05417 per share payout for NBH shareholders, maintaining the fund's commitment to providing tax-exempt income from municipal bonds. While consistent distributions are positive for income-focused investors, the relatively modest distribution amount and standard nature of this announcement suggest market impact.

The detailed disclosure about potential return of capital components is noteworthy, as it indicates the fund may be distributing more than its net investment income. This could impact investor cost basis and NAV over time. Investors should monitor the final tax characterization of distributions, which won't be determined until year-end 2024, to understand the true nature of their returns.

NEW YORK, Nov. 15, 2024 /PRNewswire/ -- Neuberger Berman Municipal Fund Inc. (NYSE American: NBH) (the "Fund") has announced a distribution declaration of $0.05417 per share of common stock. The distribution announced today is payable on December 16, 2024, has a record date of November 29, 2024, and has an ex-date of November 29, 2024. The Fund seeks to provide income that is exempt from regular federal income tax. Distributions of the Fund may be subject to the federal alternative minimum tax for some stockholders.

The distribution announced today, as well as future distributions, may consist of net investment income, realized capital gains, and return of capital. In the event the Fund distributes more than its net investment income during any yearly period, such distributions may also include realized gains and/or a return of capital. To the extent that a distribution includes a return of capital, the NAV per share may decline and an investor's cost basis of their shares will be reduced. In compliance with Section 19 of the Investment Company Act of 1940, as amended, a notice would be provided for any distribution that does not consist solely of net investment income. The notice would be for informational purposes and not for tax reporting purposes, and would disclose, among other things, estimated portions of the distribution, if any, consisting of net investment income, capital gains and return of capital. The final determination of the source and tax characteristics of all distributions paid in 2024 will be made after the end of the year.

About Neuberger Berman

Neuberger Berman is an employee-owned, private, independent investment manager founded in 1939 with over 2,800 employees in 26 countries. The firm manages $509 billion of equities, fixed income, private equity, real estate and hedge fund portfolios for global institutions, advisors and individuals. Neuberger Berman's investment philosophy is founded on active management, fundamental research and engaged ownership. The PRI identified the firm as part of the Leader's Group, a designation awarded to fewer than 1% of investment firms for excellence in environmental, social and governance practices. Neuberger Berman has been named by Pensions & Investments as the #1 or #2 Best Place to Work in Money Management for each of the last ten years (firms with more than 1,000 employees). Visit www.nb.com for more information. Data as of September 30, 2024.

Statements made in this release that look forward in time involve risks and uncertainties. Such risks and uncertainties include, without limitation, the adverse effect from a decline in the securities markets or a decline in the Fund's performance, a general downturn in the economy, competition from other closed end investment companies, changes in government policy or regulation, inability of the Fund's investment adviser to attract or retain key employees, inability of the Fund to implement its investment strategy, inability of the Fund to manage rapid expansion and unforeseen costs and other effects related to legal proceedings or investigations of governmental and self-regulatory organizations.

Contact:                                                                                
Neuberger Berman Investment Advisers LLC                                                   
Investor Information                                                                           
(877) 461-1899

View original content to download multimedia:https://www.prnewswire.com/news-releases/neuberger-berman-municipal-fund-announces-monthly-distribution-302306602.html

SOURCE Neuberger Berman

FAQ

What is the December 2024 distribution amount for Neuberger Berman Municipal Fund (NBH)?

The distribution amount is $0.05417 per share of common stock, payable on December 16, 2024.

When is the record date for NBH's December 2024 distribution?

The record date is November 29, 2024, which is also the ex-date.

Are NBH fund distributions tax-exempt?

The fund's distributions are exempt from regular federal income tax but may be subject to federal alternative minimum tax for some stockholders.

What components can be included in NBH's distributions?

Distributions may include net investment income, realized capital gains, and return of capital.