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BNY Mellon Muncipal Income, Inc. (NYSE: DMF) Declares Distribution and Announces Reduction in Monthly Distribution Amount

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NEW YORK, October 26, 2021--(BUSINESS WIRE)--BNY Mellon Municipal Income, Inc. (NYX: DMF) today announced a monthly cash distribution of $0.029 per share of common stock, payable on November 30, 2021 to shareholders of record on November 15, 2021 with an ex-dividend date of November 12, 2021. The $0.029 per share investment income dividend represents a decrease of $0.006 from the previously declared monthly net investment income dividend of $0.035 per share.

This distribution reduction primarily reflects the lower interest 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 of securities that are held, or may be held, by the Fund and from the higher cost of borrowings borne by the Fund.

DMF's accumulated undistributed net investment income was approximately $43,582 as of September 30, 2021.

Important Information

BNY Mellon Investment Adviser, Inc., the investment adviser for the Fund, is part of BNY Mellon Investment Management. BNY Mellon Investment Management is one of the world’s largest asset managers, with $2.3 trillion in assets under management as of September 30, 2021. Through an investor-first approach, BNY Mellon Investment Management brings to clients the best of both worlds: specialist expertise from eight investment firms offering solutions across every major asset class, backed by the strength, stability, and global presence of BNY Mellon. Additional information on BNY Mellon Investment Management is available on www.bnymellonim.com.

BNY Mellon Investment Management is a division of BNY Mellon, which has $45.3 trillion in assets under custody and/or administration as of September 30, 2021. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bnymellon.com. Follow us on Twitter @BNYMellon or visit our newsroom at www.bnymellon.com/newsroom for the latest company news.

Closed-end funds are traded on the secondary market through one of the stock exchanges. The Fund's investment returns and principal values will fluctuate so that an investor’s shares may be worth more or less than the original cost. Shares of closed-end funds may trade above (a premium) or below (a discount) the net asset value (NAV) of the fund’s portfolio. There is no assurance that the Fund will achieve its investment objective. As portfolio and market conditions change, the distribution rate, the composition of the distribution and the frequency of distributions by the Fund may be subject to change, including by the Fund's Board of Directors.

This release is for informational purposes only and should not be considered as investment advice or a recommendation of any particular security.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211026006203/en/

Contacts

For Press Inquiries:
BNY Mellon Investment Adviser, Inc.
Courtney Woolston
(212) 635-6027

For Other Inquiries:
BNY Mellon Securities Corporation
The National Marketing Desk
240 Greenwich Street
New York, New York 10286
1-800-334-6899

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