AllianceBernstein National Municipal Income Fund, Inc. Plans Monthly Dividend of $0.03 (NYSE:AFB)

AllianceBernstein National Municipal Income Fund, Inc. (NYSE:AFB) announced a monthly dividend on Wednesday, July 24th, Wall Street Journal reports. Stockholders of record on Thursday, August 1st will be given a dividend of 0.0327 per share by the investment management company on Friday, August 16th. This represents a $0.39 annualized dividend and a dividend yield of 3.51%. The ex-dividend date is Thursday, August 1st.

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 Performance

Shares of AFB traded down $0.05 during trading hours on Wednesday, hitting $11.16. 52,083 shares of the company were exchanged, compared to its average volume of 68,744. The firm has a fifty day simple moving average of $11.02 and a 200-day simple moving average of $10.86. AllianceBernstein National Municipal Income Fund has a one year low of $8.95 and a one year high of $11.32.

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

Insiders Place Their Bets

In other AllianceBernstein National Municipal Income Fund news, major shareholder Saba Capital Management, L.P. acquired 67,460 shares of the company’s stock in a transaction dated Monday, May 20th. The shares were acquired at an average cost of $10.90 per share, for a total transaction of $735,314.00. Following the completion of the purchase, the insider now owns 3,039,614 shares of the company’s stock, valued at approximately $33,131,792.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders purchased 141,144 shares of company stock valued at $1,541,501 over the last quarter.

AllianceBernstein National Municipal Income Fund Company Profile

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.