PITTSBURGH, Oct. 11, 2017 /PRNewswire/ -- The Boards of
Trustees of Federated Premier Intermediate Municipal Income Fund
(NYSE: FPT) and Federated Premier Municipal Income Fund (NYSE: FMN)
today announced a meeting of respective holders of common and
preferred shares of the two funds at which shareholders will be
asked to approve FPT reorganizing with and into FMN and related
matters. The funds, as diversified closed-end management
investment companies, are advised by Federated Investment
Management Company.
The joint annual meeting of shareholders will take place at
10 a.m. Eastern on Tuesday, Nov. 14, at 4000 Ericsson Drive,
Warrendale, PA, 15086-7561.
At the meeting, shareholders of record as of July 26, 2017 will be asked to approve the
reorganization, which is intended to qualify as a tax-free event
for U.S. federal income tax purposes, and the election of
trustees. Shareholders will consider the following
proposals:
- Shareholders of FPT will be asked to approve a proposed
reorganization of FPT with and into FMN, pursuant to which the
assets of FPT will be exchanged for shares of FMN, and FPT will be
liquidated and dissolved.
- Shareholders of FMN will be asked to approve a proposed
issuance of additional common shares of FMN in connection with the
reorganization.
- Shareholders of FPT and FMN will be asked to consider the
election of certain trustees and to transact such other business as
may properly come before the joint annual meeting or its
adjournment.
Additionally, the funds have declared their monthly
dividends. The funds seek to provide investors with current
dividend income that is exempt from regular federal income
tax. In addition, these funds feature income exempt from the
federal alternative minimum tax (AMT).
Record
Date:
|
Oct. 23,
2017
|
|
|
|
Ex-Dividend
Date:
|
Oct. 20,
2017
|
|
|
|
Payable
Date:
|
Nov. 1,
2017
|
|
|
|
|
|
Tax-Free Dividends
Per Share
|
|
Closed-End
Funds
|
Amount
|
|
Change From
Previous Month
|
FMN
|
Federated Premier
Municipal Income Fund
|
$
0.0610
|
|
$ --
|
FPT
|
Federated Premier
Intermediate Municipal Income
Fund
|
$
0.0450
|
|
$ --
|
Investors can view additional portfolio information in the
Products section of FederatedInvestors.com.
Federated Investors, Inc. (NYSE: FII) is one of the largest
investment managers in the United
States, managing $360.4
billion in assets as of June
30, 2017. With 122 funds, as well as a variety of
separately managed account options, Federated provides
comprehensive investment management worldwide to more than 8,500
institutions and intermediaries including corporations, government
entities, insurance companies, foundations and endowments, banks
and broker/dealers. For more information, visit
FederatedInvestors.com.
The foregoing does not constitute an offering of any securities
for sale. This press release mentions a reorganization,
which, if approved by shareholders, would be conducted pursuant to
an agreement and plan of reorganization that is included in a
registration statement that has been filed by FMN (the Registration
Statement) with the SEC. The joint proxy statement/prospectus
included in the Registration Statement contains information with
respect to the investment objectives, risks, charges and expenses
of the funds and other important information about FPT and FMN, and
free copies may be obtained by calling the fund at 1-800-341-7400
or at the SEC's website at www.sec.gov. The joint proxy
statement/prospectus will constitute neither an offer to sell
securities, nor will it constitute a solicitation of an offer to
buy securities, in any state where such offer or sale is not
permitted.
Shareholders should read the Registration Statement and joint
proxy statement/prospectus as they contain important information
about the proposed reorganization. Investors should consider
the investment objectives, risks, charges and expenses of FPT and
FMN carefully.
Certain statements made in this press release, such as those
related to the reorganization and election of trustees, are
forward-looking statements. Actual future results or occurrences
may differ significantly from those anticipated in any
forward-looking statements due to numerous factors. These
include, but are not limited to: market developments; legal and
regulatory developments; and other additional risks and
uncertainties. As a result, none of the investment adviser,
the fund or any other person assumes responsibility for the
accuracy and completeness of such statements in the future.
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content:http://www.prnewswire.com/news-releases/boards-of-trustees-of-federated-premier-intermediate-municipal-income-fund-and-federated-premier-municipal-income-fund-announce-shareholder-meeting-funds-declare-monthly-dividends-300535136.html
SOURCE Federated Investors, Inc.