Mainstay Definedterm Municipal Opptys Fd (NYSE:MMD) declared a monthly dividend on Tuesday, October 2nd, Wall Street Journal reports. Stockholders of record on Friday, December 14th will be given a dividend of 0.085 per share by the closed-end fund on Monday, December 31st. This represents a $1.02 annualized dividend and a dividend yield of 5.16%. The ex-dividend date is Thursday, December 13th.
Mainstay Definedterm Municipal Opptys Fd has decreased its dividend payment by an average of 11.3% annually over the last three years.
Shares of MMD opened at $19.78 on Friday. Mainstay Definedterm Municipal Opptys Fd has a 12-month low of $18.54 and a 12-month high of $20.49.
In related news, insider Robert A. Dimella sold 4,936 shares of the firm’s stock in a transaction on Thursday, December 6th. The stock was sold at an average price of $20.03, for a total transaction of $98,868.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
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About Mainstay Definedterm Municipal Opptys Fd
MainStay DefinedTerm Municipal Opportunities Fund is a closed-ended fixed income mutual fund launched and managed by New York Life Investment Management LLC. The fund is co-managed by MacKay Shields LLC. It invests in the fixed income markets of the United States. The fund primarily invests in investment grade municipal bonds which are exempt from regular U.S.
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