NEW
YORK, Sept. 16, 2024
/PRNewswire/ -- Neuberger Berman Municipal Fund Inc. (NYSE
American: NBH) (the "Fund") has announced a distribution
declaration of $0.05417 per share of
common stock. The distribution announced today is payable on
October 15, 2024, has a record date
of September 30, 2024, and has an
ex-date of September 30, 2024. The
Fund seeks to provide income that is exempt from regular federal
income tax. Distributions of the Fund may be subject to the federal
alternative minimum tax for some stockholders.
The Fund also announced today that it has extended the term of
its existing Variable Rate Municipal Term Preferred Shares
("Preferred Shares") to December 14,
2029. The Fund's Preferred Shares previously had a term
redemption date of December 15,
2024.
The Fund has not registered any Preferred Shares under the
Securities Act of 1933, as amended (the "Securities Act"), or any
state securities laws. Unless so registered, no Preferred Shares
may be offered or sold in the United
States except pursuant to an exemption from the registration
requirements of the Securities Act and applicable state securities
laws. The holder of the Preferred Shares has a right to require the
Fund to register the Preferred Shares under certain circumstances.
This press release is neither an offer to sell nor a solicitation
of an offer to buy any of these securities.
The distribution announced today, as well as future
distributions, may consist of net investment income, realized
capital gains, and return of capital. In the event the Fund
distributes more than its net investment income during any yearly
period, such distributions may also include realized gains and/or a
return of capital. To the extent that a distribution includes a
return of capital, the NAV per share may decline and an
investor's cost basis of their shares will be reduced. In
compliance with Section 19 of the Investment Company Act of 1940,
as amended, a notice would be provided for any distribution that
does not consist solely of net investment income. The notice would
be for informational purposes and not for tax reporting purposes,
and would disclose, among other things, estimated portions of the
distribution, if any, consisting of net investment income, capital
gains and return of capital. The final determination of the source
and tax characteristics of all distributions paid in 2024 will be
made after the end of the year.
About Neuberger Berman
Neuberger Berman is an employee-owned, private, independent
investment manager founded in 1939 with over 2,800 employees in 26
countries. The firm manages $481
billion of equities, fixed income, private equity, real
estate and hedge fund portfolios for global institutions, advisors
and individuals. Neuberger Berman's investment philosophy is
founded on active management, fundamental research and engaged
ownership. The PRI identified the firm as part of the Leader's
Group, a designation awarded to fewer than 1% of investment firms
for excellence in environmental, social and governance practices.
Neuberger Berman has been named by Pensions & Investments as
the #1 or #2 Best Place to Work in Money Management for each of the
last ten years (firms with more than 1,000 employees). Visit
www.nb.com for more information. Data as of June 30, 2024.
Statements made in this release that look forward in time
involve risks and uncertainties. Such risks and uncertainties
include, without limitation, the adverse effect from a decline in
the securities markets or a decline in the Fund's performance, a
general downturn in the economy, competition from other closed end
investment companies, changes in government policy or regulation,
inability of the Fund's investment adviser to attract or retain key
employees, inability of the Fund to implement its investment
strategy, inability of the Fund to manage rapid expansion and
unforeseen costs and other effects related to legal proceedings or
investigations of governmental and self-regulatory
organizations.
Contact:
Neuberger Berman Investment Advisers
LLC
Investor
Information
(877) 461-1899
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SOURCE Neuberger Berman
