Putnam Investments Announces 19(a) Notices for Closed-End Municipal Funds

Rhea-AI Summary

Putnam Managed Municipal Income Trust (PMM) and Putnam Municipal Opportunities Trust (PMO) have released their 19(a) monthly distribution notices, detailing the sources of the funds' distributions. PMM's current distribution includes $0.0238 per share, with 80.3% from net investment income and 19.7% from return of capital. PMO's distribution is $0.0350 per share, with 83.7% from net investment income and 16.3% from return of capital. PMM has an annualized cumulative 5-year return of 19.71%, while PMO's is 6.45%.

BOSTON--(BUSINESS WIRE)--

The 19(a) monthly distribution notices for Putnam Managed Municipal Income Trust (NYSE: PMM) and Putnam Municipal Opportunities Trust (NYSE: PMO) are now available. These informational notices provide further details on the sources of the funds’ monthly distributions and follow the most recent distribution announcement.

The table below provides an estimate of the sources of the Fund’s current distribution and its cumulative distributions paid this fiscal year-to-date. Amounts are expressed on a per share of common stock basis, and as a percentage of the distribution amount.

							Estimated sources & percentages of distributions
Ticker		Time period		Per share distribution(Apr.)			Net investment income			Short-term capital gains			Long-term capital gains			Return of capital			Net investment income			Short-term capital gains			Long-term capital gains			Return of capital
PMM (FYE 10/31)		Current month		$	0.0238		$	0.0191		$	-		$	-		$	0.0047		80.3	%		0.0	%		0.0	%		19.7	%
		Fiscal YTD		$	0.1428		$	0.1076		$	-		$	-		$	0.0352		75.4	%		0.0	%		0.0	%		24.6	%
PMO (FYE 4/30)		Current month		$	0.0350		$	0.0293		$	-		$	-		$	0.0057		83.7	%		0.0	%		0.0	%		16.3	%
		Fiscal YTD		$	0.4200		$	0.2946		$	-		$	-		$	0.1254		70.1	%		0.0	%		0.0	%		29.9	%

The table below provides information regarding distributions and total return performance for various periods.

Data as of 3/31/2024
		Annualized				Cumulative
		5-year		Current		Fiscal		Fiscal YTD
		return		distribution		YTD		distribution
Ticker		at NAV		rate at NAV*		return at NAV		rate at NAV**
PMM (FYE 10/31)		1.74%		4.22%		19.71%		4.22%
PMO (FYE 4/30)		2.07%		3.66%		6.45%		3.66%
Performance includes the deduction of management fees and administrative expenses, assumes reinvestment of distributions, and does not account for taxes.
*Most recent distribution annualized and divided by NAV at the end of the period.
**Total fiscal period distributions annualized and divided by NAV at the end of the period.

You should not draw any conclusions about the Fund’s investment performance from the amount of this distribution or from the terms of the Fund’s Distribution Policy.

The Fund estimates that it has distributed more than its income and net realized capital gains; therefore, a portion of your distribution may be a return of capital. A return of capital may occur, for example, when some or all of the money that you invested in the Fund is paid back to you. A return of capital distribution does not necessarily reflect the Fund’s investment performance and should not be confused with ‘yield’ or ‘income’.

The amounts and sources of distributions reported in this 19(a) Notice are only estimates and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend on the Fund’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund will send you a Form 1099-Div for the calendar year that will tell you how to report these distributions for federal income tax purposes.

The funds periodically provide fund-related information on their websites. The following information will be available for each fund at putnam.com at the frequencies indicated: (1) Full holdings will be available monthly beginning on the 8^th business day after the end of each month; (2) Top 10 holdings and additional portfolio statistics will be available monthly, approximately 15 days after month-end.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240410950870/en/

PUTNAM SHAREHOLDERS CONTACT: 1-800-225-1581

Source: Putnam Investments

FAQ

What are the sources of the monthly distributions for Putnam Managed Municipal Income Trust (PMM)?

PMM's current distribution includes $0.0238 per share, with 80.3% from net investment income and 19.7% from return of capital.

What is the annualized cumulative 5-year return for Putnam Municipal Opportunities Trust (PMO)?

PMO has an annualized cumulative 5-year return of 6.45%.

How are the distributions calculated for Putnam Managed Municipal Income Trust (PMM)?

The distributions are calculated based on a per share basis, with a breakdown of net investment income, short-term capital gains, long-term capital gains, and return of capital.

What is the percentage of net investment income in the current month's distribution for Putnam Municipal Opportunities Trust (PMO)?

The current month's distribution for PMO includes 83.7% from net investment income.

What fees and expenses are deducted from the total return performance of the funds?

Performance includes the deduction of management fees and administrative expenses, assuming reinvestment of distributions and not accounting for taxes.