PITTSBURGH, Jan. 28, 2022 /PRNewswire/ -- Federated
Hermes Premier Municipal Income Fund (NYSE: FMN) today announced
earnings for the fiscal year ended Nov. 30,
2021. 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 fiscal year ended Nov. 30,
2021, FMN had net investment income of $7.43 million or $0.65 per common share. From this amount, FMN
paid dividends on auction market preferred shares (AMPS) of
$473 in total. Net realized and
unrealized gains were $1.77 million
or $0.16 per common share. At
Nov. 30, 2021, FMN had an
undistributed net investment income reserve of $0.053 per common share, down slightly from
$0.055 per common share at
Nov. 30, 2020. At Nov. 30, 2021, total portfolio assets of FMN were
$293.5 million and the net asset
value per common share outstanding on that date was $15.65.
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
Dec. 31, 2021 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@FederatedHermes.com or write to Federated Hermes, 1001
Liberty Avenue, Floor 23, Pittsburgh,
PA 15222.
Federated Hermes, Inc. (NYSE: FHI) is a global leader in active,
responsible investment management, with $668.9 billion in assets under management as of
Dec. 31, 2021. We deliver investment
solutions that help investors target a broad range of outcomes and
provide equity, fixed-income, alternative/private markets,
multi-asset and liquidity management strategies to more than 11,000
institutions and intermediaries worldwide. Our clients include
corporations, government entities, insurance companies, foundations
and endowments, banks and broker/dealers. At Federated Hermes,
responsibility is central to our client relationships, our
long-term perspective and our fiduciary mindset. It's part of our
heritage and the foundation of our future. For more information,
visit FederatedHermes.com.
###
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FEDERATED HERMES
PREMIER MUNICIPAL INCOME FUND (FMN)
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SUMMARY OF RESULTS
OF OPERATIONS
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(for a Common Share
Outstanding Throughout Each Period)
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Year Ended Nov.
30,
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2021
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2020
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2019
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2018
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2017
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Net Asset Value,
Beginning of Period
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$15.49
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$15.35
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$14.31
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$15.04
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$14.55
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Income From
Investment Operations:
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Net investment
income
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0.65
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0.66
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0.70
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0.74
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0.791
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Net realized and
unrealized gain (loss) on
investments
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0.16
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0.09
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1.00
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(0.73)
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0.43
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Distributions to
auction market preferred
shareholders from net investment
income 2
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(0.00)3
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(0.00)3
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(0.07)
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(0.05)
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(0.00)3
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TOTAL FROM
INVESTMENT OPERATIONS
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0.81
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0.75
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1.63
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(0.04)
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1.22
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Less Distributions
to
Common
Shareholders:
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From net investment
income
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(0.65)
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(0.61)
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(0.62)
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(0.69)
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(0.73)
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Increase from
Auction Market Preferred
Share Tender and
Repurchase
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-
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-
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0.03
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-
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-
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Net Asset Value,
End of Period
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$15.65
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$15.49
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$15.35
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$14.31
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$15.04
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Market Price, End
of Period
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$15.23
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$14.45
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$14.09
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$12.40
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$14.11
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Total Return at
Net Asset Value 4
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5.28%
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5.11%
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11.83%
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(0.28)%
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8.54%
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Total Return at
Market Price 5
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9.99%
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7.17%
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18.92%
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(7.44)%
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5.51%
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1
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Per share numbers
have been calculated using the average shares method.
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2
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The amounts shown are
based on Common Share equivalents.
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3
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Represents less than
$0.01.
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4
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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.
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5
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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.
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SOURCE Federated Hermes, Inc.