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. The notices provide details on the sources of the funds’ monthly distributions, including net investment income, short-term capital gains, long-term capital gains, and return of capital. PMM's current month distribution is $0.0238 per share, with 75.2% from net investment income and 24.8% from return of capital. PMO's current month distribution is $0.0350 per share, with 70.0% from net investment income and 30.0% from return of capital. PMM's annualized cumulative 5-year return at NAV is 17.56%, while PMO's is 6.02%.

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 follows 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 (Jan.)		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	$	0.0179	$	-	$	-	$	0.0059		75.2%	0.0%	0.0%	24.8%
	Fiscal YTD	$	0.0714	$	0.0525	$	-	$	-	$	0.0189		73.5%	0.0%	0.0%	26.5%
PMO (FYE 4/30)	Current month	$	0.0350	$	0.0245	$	-	$	-	$	0.0105		70.0%	0.0%	0.0%	30.0%
	Fiscal YTD	$	0.3150	$	0.2132	$	-	$	-	$	0.1018		67.7%	0.0%	0.0%	32.3%

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

Data as of 12/31/2023
		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)		2.14%		4.26%		17.56%		4.26%
PMO (FYE 4/30)		2.80%		3.64%		6.02%		3.64%
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/20240111024350/en/

PUTNAM SHAREHOLDERS CONTACT: 1-800-225-1581

Source: Putnam Investments

FAQ

What are the ticker symbols of the companies mentioned in the press release?

The ticker symbols are PMM for Putnam Managed Municipal Income Trust and PMO for Putnam Municipal Opportunities Trust.

What are the sources of the funds' monthly distributions mentioned in the press release?

The sources include net investment income, short-term capital gains, long-term capital gains, and return of capital.

What is the current month distribution per share for PMM and PMO?

PMM's current month distribution is $0.0238 per share, and PMO's is $0.0350 per share.

What percentage of PMM's current month distribution is from net investment income?

75.2% of PMM's current month distribution is from net investment income.

What is the annualized cumulative 5-year return at NAV for PMO?

PMO's annualized cumulative 5-year return at NAV is 6.02%.