NEW
YORK, Oct. 16, 2023 /PRNewswire/ -- Neuberger
Berman Municipal Fund Inc. (NYSE American: NBH) has announced a
distribution declaration of $0.03774
per share of common stock. The distribution announced today is
payable on November 15, 2023, has a
record date of October 31, 2023 and
has an ex-date of October 30, 2023.
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 previously announced reorganizations of each of Neuberger
Berman California Municipal Fund Inc. (NYSE American: NBW) and
Neuberger Berman New York Municipal Fund Inc. (NYSE American: NBO)
with and into NBH are currently expected to be effective after the
close of business on Friday, October 20,
2023. Details of the share conversion factor will be
determined after the close of business on Friday and will be
communicated along with other important information relating to the
closing of the reorganizations by press release.
It is currently expected that the distribution announced today
by NBH will be payable with respect to common stockholders of NBO
and NBW who receive newly issued shares of NBH common stock upon
the closing of each reorganization, and who own shares of NBH as of
the distribution's record date of October
31, 2023.
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 2023 will be made after the end of the
year.
About Neuberger Berman
Neuberger Berman, founded in 1939, is a private, independent,
employee-owned investment manager. The firm manages a range of
strategies—including equity, fixed income, quantitative and
multi-asset class, private equity, real estate and hedge funds—on
behalf of institutions, advisors and individual investors globally.
Neuberger Berman's investment philosophy is founded on active
management, engaged ownership and fundamental research, including
industry-leading research into material environmental, social and
governance factors. Neuberger Berman is a PRI Leader, a designation
awarded to fewer than 1% of investment firms. With offices in 26
countries, the firm's diverse team has over 2,750 professionals.
For nine consecutive years, Neuberger Berman has been named first
or second in Pensions & Investments Best Places to Work in
Money Management survey (among those with 1,000 employees or more).
The firm manages $439 billion in
client assets as of September 30,
2023. For more information, please visit our website at
www.nb.com.
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
