Putnam Investments Announces 19(a) Notices For Closed-End Municipal Funds
Boston-based Putnam Investments has released the 19(a) notices for its closed-end municipal funds, specifically the Putnam Managed Municipal Income Trust (NYSE: PMM) and Putnam Municipal Opportunities Trust (NYSE: PMO). These notices detail the sources of the funds’ monthly distributions, following the latest distribution announcements.
For PMM, the July distribution per share is $0.0238, with 80.3% from net investment income and 19.7% from return of capital. Fiscal YTD distribution stands at $0.2142 per share, with 75.6% from net investment income.
For PMO, the July distribution per share is $0.0350, with 73.4% from net investment income and 26.6% from return of capital. Fiscal YTD distribution is $0.1050 per share, with the same percentage split.
As of June 30, 2024, PMM has an annualized current fiscal return of 4.19% and a 5-year cumulative return of 21.88%, while PMO has an annualized fiscal return of 3.66% and a 5-year cumulative return of 3.32%.
These notices are estimates and not for tax reporting purposes. Final details will be provided in Form 1099-Div. More information is available on putnam.com.
- None.
- None.
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(Jul.) |
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 | $ |
0.2142 |
$ |
0.1620 |
$ |
- |
$ |
- |
$ |
0.0522 |
75.6 |
% |
0.0 |
% |
0.0 |
% |
24.4 |
% |
||
| PMO (FYE 4/30) |
Current month | $ |
0.0350 |
$ |
0.0257 |
$ |
- |
$ |
- |
$ |
0.0093 |
73.4 |
% |
0.0 |
% |
0.0 |
% |
26.6 |
% |
|
| Fiscal YTD | $ |
0.1050 |
$ |
0.0771 |
$ |
- |
$ |
- |
$ |
0.0279 |
73.4 |
% |
0.0 |
% |
0.0 |
% |
26.6 |
% |
||
The table below provides information regarding distributions and total return performance for various periods.
| Data as of 6/30/2024 | |||||||||
| 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) |
|
|
|
|
|||||
| PMO (FYE 4/30) |
|
|
|
|
|||||
| 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 8th 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/20240710624188/en/
PUTNAM SHAREHOLDERS CONTACT: 1-800-225-1581
Source: Putnam Investments
FAQ
What are the sources of distribution for PMM in July?
How is the fiscal year-to-date distribution for Putnam Managed Municipal Income Trust structured?
What is the current fiscal return rate for PMM as of June 30, 2024?
What are the July distribution percentages for PMO?
What is the fiscal year-to-date distribution for Putnam Municipal Opportunities Trust?
How does PMO's performance compare over the last 5 years?
Where can I find more information about these funds?
Are the 19(a) notices for tax reporting purposes?
