Press Release
Neuberger Berman Intermediate Municipal Fund Announces Increase in Distribution Rate and Declaration of Next Monthly Distribution
Contact:
Neuberger Berman Management LLC. Investor Information, (877) 461-1899
NEW YORK, NY, October 7, 2014 - Neuberger Berman Intermediate Municipal Fund Inc. (NYSE MKT: NBH) has announced an increase in its monthly distribution rate to $0.075 per share of common stock from the prior monthly distribution rate of $0.07 per share. The Fund has also declared its next monthly distribution at the new rate, which is payable on November 17, 2014, has a record date of October 31, 2014 and has an ex-date of October 29, 2014.
The increased distribution rate is approximately 7% higher than its current distribution rate and represents an annualized distribution rate of approximately 6% per share based on the Fund’s closing market price of $15.02 per share on October 6, 2014. The increase in distribution rate is the result of numerous factors, including the Fund’s current undistributed net investment income (UNII) balance, its current and projected level of earnings and its current and expected costs of leverage.
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.
About Neuberger Berman
Neuberger Berman is a 75-year-old private, independent, employee-controlled investment manager. The firm manages equities, fixed income, private equity and hedge fund portfolios for institutions and advisors worldwide. With offices in 17 countries, Neuberger Berman’s team is more than 2,000 professionals and the company was named by Pensions & Investments as a 2013 Best Place to Work in Money Management. Tenured, stable and long-term in focus, the firm fosters an investment culture of fundamental research and independent thinking. It manages $257 billion in client assets as of June 30, 2014. For more information, please visit our website at www.nb.com.