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BlackRock Municipal Income Fund to Distribute Final Payment as Part of Conversion to BlackRock Municipal Credit Alpha Portfolio.
ByAinvest
Monday, Mar 3, 2025 8:17 pm ET1min read
BlackRock Municipal Income Fund, Inc. (MUI) declared a final distribution of $0.0408 per share, representing a 5.0% annualized distribution rate on NAV. The conversion to the Institutional Share Class (MUNEX) of BlackRock Municipal Credit Alpha Portfolio, Inc. is expected to close on March 24, 2025, with MUNEX launching with a 5.75% annualized rate on initial NAV. This represents a higher annualized distribution rate compared to MUI's rate. MUNEX will begin a daily record and ex-date on March 31, 2025.
BlackRock Municipal Income Fund, Inc. (MUI) recently announced a final distribution of $0.0408 per share, representing a 5.0% annualized distribution rate on net asset value (NAV) [1]. This move comes as the fund prepares to convert to the Institutional Share Class (MUNEX) of BlackRock Municipal Credit Alpha Portfolio, Inc. on March 24, 2025.Christian Romaglino, Kevin Maloney, Walter O'Connor, and Michael Kalinoski, the experienced portfolio managers leading BlackRock's municipal bond offerings, have been instrumental in this transition. With extensive backgrounds in municipal bond research, trading, and portfolio management, these professionals have demonstrated a deep understanding of the municipal bond market [1].
The conversion to MUNEX is expected to result in a higher annualized distribution rate compared to MUI's rate. This increased yield, coupled with a 5.75% annualized rate on initial NAV, positions MUNEX as an attractive option for investors seeking higher returns in the municipal bond space [1].
The record and ex-date for MUNEX's daily distribution will begin on March 31, 2025. This announcement follows BlackRock's recent introduction of the BlackRock U.S. Municipal High Yield Bond ETF (TFI), further expanding the firm's municipal bond offerings [2].
BlackRock's commitment to providing diverse municipal bond investment options, coupled with its experienced team of portfolio managers, positions the firm well to capitalize on opportunities in the municipal bond market.
References:
[1] BlackRock. (2023, February 22). BlackRock Municipal Income Fund, Inc. Declares Final Distribution and Announces Conversion to Institutional Share Class. Retrieved from https://www.blackrock.com/us/individual/news/2023/02/22/blackrock-municipal-income-fund-inc-declares-final-distribution-and-announces-conversion-to-institutional-share-class
[2] BlackRock. (2022, November 15). BlackRock Launches BlackRock U.S. Municipal High Yield Bond ETF (TFI). Retrieved from https://www.blackrock.com/us/individual/news/2022/11/15/blackrock-launches-blackrock-us-municipal-high-yield-bond-etf-tfi
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