AllianceBernstein National Municipal Income Fund, Inc. (NYSE:AFB) Raises Dividend to $0.04 Per Share

AllianceBernstein National Municipal Income Fund, Inc. (NYSE:AFB) announced a monthly dividend on Tuesday, August 27th, Wall Street Journal reports. Stockholders of record on Thursday, September 5th will be paid a dividend of 0.0359 per share by the investment management company on Friday, September 20th. This represents a $0.43 annualized dividend and a dividend yield of 3.78%. The ex-dividend date is Thursday, September 5th. This is a positive change from AllianceBernstein National Municipal Income Fund’s previous monthly dividend of $0.03.

AllianceBernstein National Municipal Income Fund has decreased its dividend payment by an average of 13.3% annually over the last three years.

AllianceBernstein National Municipal Income Fund Price Performance

NYSE:AFB traded down $0.05 on Tuesday, reaching $11.40. The stock had a trading volume of 109,728 shares, compared to its average volume of 66,469. AllianceBernstein National Municipal Income Fund has a 1-year low of $8.95 and a 1-year high of $11.55. The stock has a fifty day moving average price of $11.25 and a 200-day moving average price of $10.96.

AllianceBernstein National Municipal Income Fund (NYSE:AFB) last released its quarterly earnings results on Friday, June 28th. The investment management company reported $0.10 earnings per share for the quarter.

Insider Activity

In related news, major shareholder Saba Capital Management, L.P. acquired 7,151 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The shares were bought at an average cost of $10.75 per share, with a total value of $76,873.25. Following the completion of the purchase, the insider now directly owns 3,108,047 shares in the company, valued at $33,411,505.25. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders have acquired 48,124 shares of company stock worth $528,222.

About AllianceBernstein National Municipal Income Fund

AllianceBernstein National Municipal Income Fund, Inc is a closed-ended fixed income mutual fund launched and managed by AllianceBernstein L.P. The fund invests in the fixed income markets of the United States. It primarily invests in investment-grade municipal securities which pay interest that is exempt from federal income tax.