Federated Investors' Closed-End Municipal Funds Report Annual Earnings
29 Janvier 2010 - 10:14PM
PR Newswire (US)
PITTSBURGH, Jan. 29 /PRNewswire-FirstCall/ -- Federated Premier
Municipal Income Fund (NYSE:FMN) and Federated Premier Intermediate
Municipal Income Fund (NYSE:FPT) today announced earnings for the
fiscal year ended Nov. 30, 2009. Established in 2002, the funds
seek to provide investors with income that is exempt from federal
income tax, including alternative minimum tax (AMT), by investing
in municipal securities from different sectors, states and issuers
across the country. For the fiscal year ended Nov. 30, 2009, FMN
had net investment income of $6.6 million or $1.07 per common
share. From this amount, FMN paid dividends on preferred shares of
$0.1 million, resulting in net investment income after the
preferred dividends of $6.5 million or $1.05 per common share. Net
realized and unrealized gains were $13.1 million or $2.13 per
common share. At Nov. 30, 2009, FMN had an undistributed net income
reserve of $0.109 per common share, up from $0.075 per common share
at Nov. 30, 2008. Total managed assets of FMN were $118.0 million
and the net asset value per common share was $13.25. For the fiscal
year ended Nov. 30, 2009, FPT had net investment income of $6.4
million or $0.92 per common share. From this amount, FPT paid
dividends on preferred shares of $0.2 million, resulting in net
investment income after the preferred dividends of $6.2 million or
$0.90 per common share. Net realized and unrealized gains were
$10.8 million or $1.54 per common share. At Nov. 30, 2009, FPT had
an undistributed net income reserve of $0.066 per common share, up
from $0.053 per common share at Nov. 30, 2008. Total managed assets
of FPT were $135.5 million and the net asset value per common share
was $13.46. Both FMN and FPT have paid monthly tax-free dividends
since the first dividend declaration in February 2003. During the
fiscal year, the funds markedly increased their respective monthly
common dividends in March 2009, with FMN's dividend rising to $0.09
per share from $0.067 and FPT's dividend rising to $0.079 per share
from $0.0575. Fund composition and performance data for the funds
as of Dec. 31, 2009 is available in the Products section of
FederatedInvestors.com. Data is updated on the Web site
approximately 15 days following each month-end and full portfolio
listings are updated approximately 30 days following each calendar
quarter-end. To order hard copies or to be placed on a mailing
list, call 800-245-0242 x8079, email or write to Federated
Investors, 1001 Liberty Avenue, Floor 23, Pittsburgh, PA 15222.
Federated Investors, Inc. (NYSE:FII) is one of the largest
investment managers in the United States, managing $389.3 billion
in assets as of Dec. 31, 2009. With 145 funds, as well as a variety
of separately managed account options, Federated provides
comprehensive investment management worldwide to more than 5,200
institutions and intermediaries including corporations, government
entities, insurance companies, foundations and endowments, banks
and broker/dealers. For more information, visit
FederatedInvestors.com. FEDERATED PREMIER MUNICIPAL INCOME FUND
(FMN) SUMMARY OF RESULTS OF OPERATIONS (For a Common Share
Outstanding Throughout Each Period) Year Ended Nov. 30 2009 2008
2007 2006 2005 ---- ---- ---- ---- ---- Net Asset Value, Beginning
of Period $11.08 $14.60 $15.56 $15.05 $14.66 Income From Investment
Operations: Net investment income (1) 1.07 1.12 1.12 1.12 1.12 Net
realized and unrealized gain (loss) on investments, swap contracts
and futures contracts 2.13 (3.59) (0.96) 0.55 0.43 Distributions to
preferred shareholders from net investment income (2) (0.02) (0.25)
(0.32) (0.29) (0.19) ----- ----- ----- ----- ----- TOTAL FROM
INVESTMENT OPERATIONS 3.18 (2.72) (0.16) 1.38 1.36 ---- ----- -----
---- ---- Less Distributions to Common Shareholders: From net
investment income (1.01) (0.80) (0.80) (0.87) (0.97) ----- -----
----- ----- ----- Net Asset Value, End of Period $13.25 $11.08
$14.60 $15.56 $15.05 ------ ------ ------ ------ ------ Market
Price, End of Period $14.47 $9.37 $13.92 $15.80 $14.44 ------ -----
------ ------ ------ Total Return at Net Asset Value (3) 29.89%
(19.45)% (1.01)% 9.51% 9.49% ----- ------- ------ ---- ---- Total
Return at Market Price (4) 67.59% (28.31)% (7.03)% 15.90% 7.75%
----- ------- ------ ----- ---- 1) Per share numbers have been
calculated using the average shares method. 2) The amounts shown
are based on Common Share equivalents. 3) Total Return at Net Asset
Value is the combination of changes in the Common Share net asset
value, reinvested dividend income and reinvested capital gains
distributions at net asset value, if any, and does not reflect the
sales charge, if applicable. 4) Total Return at Market Price is the
combination of changes in the market price per share and the effect
of reinvested dividend income and reinvested capital gains
distributions, if any, at the average price paid per share at the
time of the reinvestment. FEDERATED PREMIER INTERMEDIATE MUNICIPAL
INCOME FUND (FPT) SUMMARY OF RESULTS OF OPERATIONS (For a Common
Share Outstanding Throughout Each Period) Year Ended Nov. 30 2009
2008 2007 2006 2005 ---- ---- ---- ---- ---- Net Asset Value,
Beginning of Period $11.90 $14.15 $14.83 $14.41 $14.53 Income From
Investment Operations: Net investment income (1) 0.92 0.97 0.99
0.96 0.92 Net realized and unrealized gain (loss) on investments,
swap contracts and futures contracts 1.54 (2.29) (0.66) 0.44 (0.08)
Distributions to preferred shareholders from net investment income
(2) (0.02) (0.24) (0.32) (0.29) (0.20) ----- ----- ----- -----
----- TOTAL FROM INVESTMENT OPERATIONS 2.44 (1.56) 0.01 1.11 0.64
---- ----- ---- ---- ---- Less Distributions to Common
Shareholders: From net investment income (0.88) (0.69) (0.69)
(0.69) (0.76) ----- ----- ----- ----- ----- Net Asset Value, End of
Period $13.46 $11.90 $14.15 $14.83 $14.41 ------ ------ ------
------ ------ Market Price, End of Period $13.62 $9.37 $12.50
$13.81 $12.68 ------ ----- ------ ------ ------ Total Return at Net
Asset Value (3) 21.24% (11.47)% 0.10% 7.94% 4.46% ----- -------
---- ---- ---- Total Return at Market Price (4) 56.22% (20.62)%
(4.80)% 14.63% (0.66)% ----- ------- ----- ----- ----- 1) Per share
numbers have been calculated using the average shares method. 2)
The amounts shown are based on Common Share equivalents. 3) Total
Return at Net Asset Value is the combination of changes in the
Common Share net asset value, reinvested dividend income and
reinvested capital gains distributions at net asset value, if any,
and does not reflect the sales charge, if applicable. 4) Total
Return at Market Price is the combination of changes in the market
price per share and the effect of reinvested dividend income and
reinvested capital gains distributions, if any, at the average
price paid per share at the time of the reinvestment. DATASOURCE:
Federated Investors, Inc. CONTACT: Media, Melissa Ryan,
+1-412-288-8079 or Meghan McAndrew, +1-412-288-8103 Web Site:
http://federatedinvestors.com/
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