PITTSBURGH, July 31, 2019 /PRNewswire/ -- Federated
Premier Municipal Income Fund (NYSE: FMN) today announced earnings
for the six-month period ended May
31, 2019. Established in 2002, the fund seeks 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 six-month period, FMN had net investment income of
$4.1 million or $0.36 per common share. From this amount,
FMN paid distributions on auction market preferred shares (AMPS) of
$436,405. Net realized and
unrealized gains were $9.6 million or
$0.84 per common share. At
May 31, 2019, FMN had an
undistributed income reserve of $0.002 per common share. Total managed assets of
both common and preferred shareholders of FMN were $288.9 million and the net asset value per common
share was $15.15.
FMN has paid a monthly tax-free dividend since the first
dividend declaration in February
2003. The monthly dividend to common shareholders of FMN
held steady at $0.054 throughout the
six-month period.
Fund composition and performance data for the fund as of
June 30, 2019 is available in the
Products section of FederatedInvestors.com. Data is updated
on the website 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 1-800-245-0242 x5587538, email
CEinfo@federatedinv.com or write to Federated Investors, 1001
Liberty Avenue, Floor 23, Pittsburgh,
PA 15222.
Federated Investors, Inc. (NYSE: FII) is a leading global
investment manager with $502.2
billion in assets under management as of June 30, 2019. Our investment solutions
span 130 equity, fixed-income, alternative/private markets,
multi-asset and money market funds and a range of separately
managed account strategies. Providing comprehensive investment
management to more than 10,000 institutions and intermediaries, our
clients include corporations, government entities, insurance
companies, foundations and endowments, banks and broker/dealers.
Headquartered in Pittsburgh,
Federated's more than 1,900 employees include those in New York, Boston, London and several other offices worldwide. In
2018, Federated acquired a majority interest in Hermes Investment
Management, which provides world-class active management and
stewardship services. 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)
|
|
|
Six Months
Ended
(unaudited)
|
Year Ended Nov.
30,
|
|
May
31,
2019
|
2018
|
2017
|
2016
|
2015
|
2014
|
|
Net Asset Value,
Beginning of Period
|
$
14.31
|
$
15.04
|
$
14.55
|
$
15.26
|
$
15.37
|
$
13.95
|
|
Income from
Investment Operations:
|
|
|
|
|
|
|
|
Net investment income
|
0.36
|
0.74
|
0.791
|
0.811
|
0.871
|
0.891
|
|
Net realized and
unrealized gain
(loss)
|
0.84
|
(0.73)
|
0.43
|
(0.66)
|
(0.10)
|
1.43
|
|
Distributions to auction market
preferred shareholders from net
investment income2
|
(0.04)
|
(0.05)
|
(0.00)3
|
(0.00)3
|
(0.00)3
|
(0.00)3
|
|
TOTAL FROM INVESTMENT
OPERATIONS
|
1.16
|
(0.04)
|
1.22
|
0.15
|
0.77
|
2.32
|
|
Less Distributions
to Common Shareholders:
|
|
|
|
|
|
|
|
From net investment income
|
(0.32)
|
(0.69)
|
(0.73)
|
(0.86)
|
(0.88)
|
(0.90)
|
|
Net Asset Value,
End of Period
|
$
15.15
|
$
14.31
|
$
15.04
|
$
14.55
|
$
15.26
|
$
15.37
|
|
Market Price, End
of Period
|
$
13.71
|
$
12.40
|
$
14.11
|
$
14.07
|
$
14.85
|
$
14.47
|
|
Total Return at
Net Asset Value4
|
8.23%
|
(0.28)%
|
8.54%
|
0.73%
|
5.17%
|
17.09%
|
|
Total Return at
Market Price5
|
13.28%
|
(7.44)%
|
5.51%
|
0.17%
|
8.98%
|
23.38%
|
|
|
1 Per share
numbers have been calculated using the average shares
method.
|
|
2 The amounts
shown are based on Common Share equivalents.
|
|
3 Represents less
than $0.01.
|
|
4 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. Total returns for periods
of less than one year are not annualized.
|
|
5 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. Total returns for periods of
less than one year are not annualized.
|
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SOURCE Federated Investors, Inc.