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Neuberger Berman Municipal Fund Inc. (NYSE American: NBH) is a closed-end management investment company. The Fund primarily invests in municipal securities with the aim of providing a high level of current income exempt from Federal income tax for its common stockholders. This focus on tax-exempt income makes it an attractive option for investors looking to maximize their after-tax returns.
Established in 1939, Neuberger Berman is a private, independent, and employee-owned investment manager known for its active management and fundamental research approach. The firm's investment philosophy integrates material environmental, social, and governance factors, reflecting its commitment to responsible investing. Neuberger Berman manages a diverse range of assets, including equities, fixed income, private equity, real estate, and hedge funds. As of December 31, 2023, the firm oversees $463 billion in client assets.
Neuberger Berman Municipal Fund Inc. routinely announces distributions, providing shareholders with a steady stream of income. For instance, in recent announcements, the Fund declared a distribution of $0.03774 per share of common stock, payable on various dates throughout 2024. These distributions, while generally exempt from regular federal income tax, may still be subject to the federal alternative minimum tax for some stockholders.
The Fund operates under the stringent regulations of the Investment Company Act of 1940, ensuring transparency and accountability. Neuberger Berman's commitment to excellence has been recognized globally, with the firm being named a PRI Leader, an honor awarded to fewer than 1% of investment firms. Additionally, it has consistently ranked at the top in Pensions & Investments' Best Places to Work in Money Management survey for firms with more than 1,000 employees.
For those seeking a reliable source of tax-exempt income, Neuberger Berman Municipal Fund Inc. represents a solid investment. The Fund's regular distribution declarations and its strategic focus on high-quality municipal securities make it a prudent choice for tax-sensitive investors.
Neuberger Berman Municipal Fund (NYSE American: NBH) announced a monthly distribution of $0.03774 per share of common stock.
The distribution is payable on June 17, 2024, with a record date of May 31, 2024, and an ex-date of May 31, 2024.
The Fund aims to provide income exempt from regular federal income tax, although distributions may be subject to the federal alternative minimum tax for some shareholders.
A notice compliant with the Investment Company Act of 1940 will be issued if the distribution includes more than net investment income, for informational, not tax reporting purposes. The final determination of source and tax characteristics of all 2024 distributions will be made post year-end.
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