Neuberger Berman Closed-End Intermediate Municipal Funds Announce Monthly Distributions
Neuberger Berman Investment Advisers LLC, Investor Information, 877.461.1899
New York, August 15, 2016 — The Boards of the three Neuberger Berman Closed-End Intermediate Municipal Funds have declared monthly distributions for the dates below. The Funds seek to provide income that is exempt from regular federal income tax. Additionally, Neuberger Berman California Intermediate Municipal Fund Inc. seeks to provide income that is exempt from California personal income tax and Neuberger Berman New York Intermediate Municipal Fund Inc. seeks to provide income that is exempt from New York State and New York City personal income tax. Distributions of the Funds may be subject to the federal alternative minimum tax for some stockholders. Each Fund’s distribution announced today is payable on September 15, 2016, has a record date of August 31, 2016 and an ex-date of August 29, 2016.
The Funds will make the distributions described above in the following per share amounts:
|NBH||Neuberger Berman Intermediate Municipal Fund Inc||$0.075|
|NBW||Neuberger Berman California Intermediate Municipal Fund Inc.||$0.062|
|NBO||Neuberger Berman New York Intermediate Municipal Fund Inc.||$0.048|
In compliance with Section 19 of the Investment Company Act of 1940, as amended, a notice would accompany any distribution that does not consist solely of net investment income. This notice would be for informational purposes, and would disclose, among other things, estimated portions of the distribution, if any, consisting of net investment income, capital gains and return of capital.
Investment Policy Change
As previously described in other recent communications, under normal market conditions, each of Neuberger Berman California Intermediate Municipal Fund Inc. (NBW) and Neuberger Berman New York Intermediate Municipal Fund Inc. (NBO) invests at least 80% of its total assets in securities with remaining maturities of less than 15 years and each invests at least 90% of its total assets in securities that are exempt from federal income tax and the state income tax of their specific state (and, with respect to New York, New York City personal income tax). Effective June 22, 2016, neither Fund has a separate policy to invest at least 90% of its total assets in securities with remaining maturities of less than 15 years. There are no other changes to either Fund’s investment strategy or policies.
About Neuberger Berman
Neuberger Berman, founded in 1939, is a private, independent, employee-owned investment manager. The firm manages equities, fixed income, private equity and hedge fund portfolios for institutions and advisors worldwide. With offices in 19 countries, Neuberger Berman’s team is approximately 2,000 professionals and the company was named by Pensions & Investments as a Best Place to Work in Money Management for three consecutive years. Tenured, stable and long-term in focus, the firm fosters an investment culture of fundamental research and independent thinking. It manages $246 billion in client assets as of June 30, 2016. For more information, please visit our website at www.nb.com.