BNY Mellon Strategic Municipals said on April 27, 2023 that its board of directors declared a regular monthly dividend of $0.02 per share ($0.28 annualized). Previously, the company paid $0.02 per share.
Shares must be purchased before the ex-div date of May 11, 2023 to qualify for the dividend. Shareholders of record as of May 12, 2023 will receive the payment on May 31, 2023.
At the current share price of $6.31 / share, the stock's dividend yield is 4.37%.
Looking back five years and taking a sample every week, the average dividend yield has been 5.14%, the lowest has been 1.48%, and the highest has been 6.39%. The standard deviation of yields is 0.53 (n=196).
The current dividend yield is 1.45 standard deviations below the historical average.
The company's 3-Year dividend growth rate is -0.34%.
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What is the Fund Sentiment?
There are 94 funds or institutions reporting positions in BNY Mellon Strategic Municipals. This is an increase of 2 owner(s) or 2.17% in the last quarter. Average portfolio weight of all funds dedicated to LEO is 0.07%, a decrease of 20.01%. Total shares owned by institutions increased in the last three months by 1.95% to 9,624K shares.
What are Other Shareholders Doing?
Guggenheim Capital holds 1,316K shares. In it's prior filing, the firm reported owning 1,308K shares, representing an increase of 0.59%. The firm decreased its portfolio allocation in LEO by 22.73% over the last quarter.
Wells Fargo holds 1,083K shares. In it's prior filing, the firm reported owning 483K shares, representing an increase of 55.39%. The firm increased its portfolio allocation in LEO by 107.48% over the last quarter.
Robinson Capital Management holds 412K shares. In it's prior filing, the firm reported owning 210K shares, representing an increase of 48.99%. The firm increased its portfolio allocation in LEO by 27.15% over the last quarter.
ROBAX - Robinson Tax Advantaged Income Fund Shares holds 412K shares. In it's prior filing, the firm reported owning 210K shares, representing an increase of 48.99%. The firm increased its portfolio allocation in LEO by 4.58% over the last quarter.
Capital Investment Advisors holds 332K shares. In it's prior filing, the firm reported owning 298K shares, representing an increase of 10.40%. The firm increased its portfolio allocation in LEO by 110,937.93% over the last quarter.
BNY Mellon Strategic Municipals Background Information
(This description is provided by the company.)
BNY Mellon Strategic Municipals, Inc., formerly Dreyfus Strategic Municipals, Inc., is a diversified closed-end management investment company. The Fund's investment objective is to maximize current income exempt from federal income tax to the extent consistent with the preservation of capital. The Fund has Long-Term Municipal Investments in various states of the United States including Alabama, Alaska, Arizona, California, Colorado, District of Columbia, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, New Jersey, New Mexico, New York, Ohio, South Carolina, Tennessee, Texas, Virginia, Washington, West Virginia, Wyoming and the United States related. The Fund invests in sectors, such as education, special tax, healthcare, utility, pre-refunded muni, transportation and state/territory general obligations. BNY Mellon Investment Adviser, Inc. serves as the Fund's investment advisor.-
This story originally appeared on Fintel.
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