AllianceBernstein National Municipal Income Fund, Inc. (NYSE:AFB) Declares Dividend Increase – $0.04 Per Share

AllianceBernstein National Municipal Income Fund, Inc. (NYSE:AFB) declared a monthly dividend on Monday, August 26th, Wall Street Journal reports. Investors 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 yield of 3.77%. The ex-dividend date of this dividend 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% per year over the last three years.

AllianceBernstein National Municipal Income Fund Stock Up 0.2 %

Shares of AllianceBernstein National Municipal Income Fund stock opened at $11.42 on Wednesday. The firm’s 50-day moving average price is $11.29 and its two-hundred day moving average price is $10.98. AllianceBernstein National Municipal Income Fund has a 1-year low of $8.95 and a 1-year high of $11.55.

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

Insiders Place Their Bets

In related news, major shareholder Saba Capital Management, L.P. purchased 34,874 shares of AllianceBernstein National Municipal Income Fund stock in a transaction that occurred on Monday, June 24th. The shares were acquired at an average price of $11.05 per share, for a total transaction of $385,357.70. Following the transaction, the insider now directly owns 3,149,020 shares in the company, valued at $34,796,671. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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.