PITTSBURGH, Jan. 29, 2020 /PRNewswire/ -- Federated Premier
Municipal Income Fund (NYSE: FMN) today announced earnings for the
fiscal year ended Nov. 30,
2019. 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,
2019, FMN had net investment income of $8.04 million or $0.70 per common share1. From
this amount, FMN paid dividends on auction market preferred shares
(AMPS) of $0.74 million, resulting in
net investment income after the AMPS dividends of $7.30 million or $0.63 per common share. Net realized and
unrealized gains were $11.52 million
or $1.00 per common share. At
Nov. 30, 2019, FMN had an
undistributed net investment income reserve of $0.006 per common share, up from $0.004 per common share at Nov. 30, 2018. At Nov. 30, 2019, total portfolio assets of FMN were
$291.3 million and the net asset
value per common share outstanding on that date was $15.35.
FMN has paid a monthly tax-free dividend since the first
dividend declaration in February 2003.
Fund composition and performance data for the fund as of
Dec. 31, 2019 are 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 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 $527.2
billion in assets under management as of Sept. 30, 2019. Our investment solutions
span 131 equity, fixed-income, alternative/private markets,
multi-asset and liquidity management strategies and a range of
separately managed account strategies. Providing
comprehensive investment management to more than 11,000
institutions and intermediaries, our clients include corporations,
government entities, insurance companies, foundations and
endowments, banks and broker/dealers. Headquartered in
Pittsburgh, Federated's nearly
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.
###
1) Except where noted, per share numbers
are based on the average number of common shares outstanding during
the fiscal year.
FEDERATED PREMIER
MUNICIPAL INCOME FUND (FMN) SUMMARY OF RESULTS OF
OPERATIONS (For a Common
Share Outstanding Throughout Each Period)
|
|
Year Ended Nov.
30,
|
|
2019
|
2018
|
2017
|
2016
|
2015
|
|
Net Asset Value,
Beginning of Period
|
$14.31
|
$15.04
|
$14.55
|
$15.26
|
$15.37
|
|
Income From
Investment Operations:
|
|
|
|
|
|
|
Net investment
income
|
0.70
|
0.74
|
0.791
|
0.811
|
0.871
|
|
Net realized and
unrealized gain (loss) on investments
|
1.00
|
(0.73)
|
0.43
|
(0.66)
|
(0.10)
|
|
Distributions to
auction market preferred
shareholders from net investment
income 2
|
(0.07)
|
(0.05)
|
(0.00)3
|
(0.00)3
|
(0.00)3
|
|
TOTAL FROM
INVESTMENT OPERATIONS
|
1.63
|
(0.04)
|
1.22
|
0.15
|
0.77
|
|
Less Distributions
to
Common
Shareholders:
|
|
|
|
|
|
|
From net investment
income
|
(0.62)
|
(0.69)
|
(0.73)
|
(0.86)
|
(0.88)
|
|
Increase from
Auction Market Preferred
Share Tender and
Repurchase
|
0.03
|
-
|
-
|
-
|
-
|
|
Net Asset Value,
End of Period
|
$15.35
|
$14.31
|
$15.04
|
$14.55
|
$15.26
|
|
Market Price, End
of Period
|
$14.09
|
$12.40
|
$14.11
|
$14.07
|
$14.85
|
|
Total Return at
Net Asset Value 4
|
11.83%
|
(0.28)%
|
8.54%
|
0.73%
|
5.17%
|
|
Total Return at
Market Price 5
|
18.92%
|
(7.44)%
|
5.51%
|
0.17%
|
8.98%
|
|
|
|
|
|
|
|
|
|
|
|
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.
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.
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SOURCE Federated Investors, Inc.