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BNY Mellon Strategic Municipal Bond Fund, Inc. (NYX: DSM) Announces Dividend Reduction

NEW YORK--(BUSINESS WIRE)--

BNY Mellon Strategic Municipal Bond Fund, Inc. (NYX: DSM) today announced a monthly cash dividend of $0.030 per share of common stock, payable on December 31, 2019 to shareholders of record at the close of business on December 13, 2019. The ex-dividend date is December 12, 2019. The $0.030 per share investment income dividend represents a decrease of $0.005 from the previously declared monthly net investment income dividend of $0.035 per share.

The dividend reduction primarily reflects the lower reinvestment rate environment that has existed in the market for the reinvestment of the proceeds from coupon payments and from called, sold and/or matured securities and from the higher cost of borrowings.

DSM's accumulated undistributed investment income-net was approximately $1,599,570 as of October 31, 2019.*

 

* The accumulated undistributed investment income-net is determined in accordance with income tax regulations, which differ from U.S. generally accepted accounting principles.

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