BNY Mellon Municipal Income sets final distribution before liquidation

Published 23/05/2025, 17:46
© Reuters.

NEW YORK - BNY Mellon Municipal Income, Inc. (NYSE:DMF) announced today that it will pay a final distribution of $0.078 per share on June 16, 2025, to shareholders on record as of June 9, 2025. This distribution follows April’s $0.019 per share and precedes the Fund’s scheduled liquidation on June 20, 2025. The fund’s parent company, BNY Mellon (NYSE:BK), currently trades near its 52-week high of $90.62, with InvestingPro analysis showing a strong 56.81% return over the past year.

The Fund, managed by BNY Mellon Investment Adviser, Inc., part of BNY Investments, has historically aimed to distribute its net income to shareholders through monthly dividends. However, with the upcoming liquidation, this will be the last payment to its common shareholders. BNY Investments, boasting $2.0 trillion in assets under management as of March 31, 2025, is a division of BNY, which holds $53.1 trillion in assets under custody and/or administration. According to InvestingPro, BNY Mellon has maintained dividend payments for 55 consecutive years and currently offers a 2.11% dividend yield. InvestingPro subscribers have access to 8 more key insights about BNY Mellon’s financial health and growth potential.

BNY Mellon Municipal Income, Inc. operates as a closed-end fund, meaning its shares are traded on the secondary market through stock exchanges. The value of these shares can fluctuate, potentially trading at a premium or discount to the net asset value of the fund’s portfolio. Despite this, there is no guarantee that the Fund will meet its investment objective.

As the oldest bank in America, established in 1784, BNY, or The Bank of New York Mellon Corporation (NYSE:BK), continues to be a significant player in the global capital markets, providing a suite of services to manage and service financial assets throughout the investment lifecycle.

This announcement serves as an informational update and should not be construed as investment advice or an endorsement of any particular security. The information provided is based on a press release statement.

In other recent news, Bank of New York Mellon reported first-quarter earnings with an earnings per share of $1.58, showing a year-over-year improvement in core operating leverage by 260 basis points. The company’s most profitable segment, Markets and Wealth Services, saw operating margins rise to 49%, while Securities Services also posted an increase, reaching a 30% margin. However, the Investment and Wealth Management segment faced challenges, with its operating margin dropping to 8% from 13% in the previous year. JPMorgan reiterated its Overweight rating on Bank of New York Mellon, maintaining a price target of $87.00, despite noting unfavorable market conditions affecting fee revenues. Additionally, BNY Mellon shareholders approved executive compensation and elected 11 directors during a recent meeting, reflecting confidence in the company’s leadership. The appointment of KPMG LLP as the independent registered public accountants for the fiscal year was also ratified. Meanwhile, BNY Mellon High Yield Strategies Fund announced a monthly cash dividend of $0.0175 per share, consistent with previous distributions. Graphex Group Ltd declared the distribution of proceeds from a recent rights issue to its American Depository Shares holders, following the sale of rights in the local market by BNY Mellon as the depositary.

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