Welcome to our dedicated page for Neuberger Berman Municipal Fund news (Ticker: NBH), a resource for investors and traders seeking the latest updates and insights on Neuberger Berman Municipal Fund stock.
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.
On August 15, 2022, Neuberger Berman Municipal Fund (NYSE: NBH), Neuberger Berman California Municipal Fund (NYSE: NBW), and Neuberger Berman New York Municipal Fund (NYSE: NBO) announced a partial redemption of their Variable Rate Municipal Term Preferred Shares (VMTP Shares). The funds redeemed 47 VMTP Shares (NBH), 38 (NBW), and 43 (NBO) at a liquidation preference of $100,000 each, plus accrued distributions. Currently, 1,657 VMTP Shares remain in NBH, 512 in NBW, and 420 in NBO. The funds have not registered the VMTP Shares under the Securities Act, limiting their sale in the U.S.
Neuberger Berman Municipal Fund Inc. (NYSE American: NBH) announced a decrease in its monthly distribution rate to $0.05025 per share, down from $0.06244. The new rate results in an annualized distribution of $0.6030, reflecting a rate of approximately 4.66% of the Fund's net asset value as of April 18, 2022. Factors leading to this decrease include lower yields in the municipal market, expected increased leverage costs due to anticipated interest rate hikes, and available undistributed net investment income (UNII).
Neuberger Berman Municipal Fund Inc. (NYSE: NBH), California Municipal Fund Inc. (NYSE: NBW), and New York Municipal Fund Inc. (NYSE: NBO) have announced an extension of the term for their Variable Rate Municipal Term Preferred Shares (VMTP Shares) to December 15, 2024, previously set to mature on March 31, 2022. The Funds have not registered VMTP Shares under the Securities Act of 1933, and as such, they can only be sold under specific exemptions. Neuberger Berman, founded in 1939, manages approximately $437 billion in assets globally.
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