MMT Boosts Monthly Payout 22% to $0.04/Share, Adopts Managed Distribution Policy
MMT is trading near its 52-week low of $4.37 (0.7% above the low).
Summary
The fund is raising its monthly distribution by 22% to $0.04 per share, moving from a prior $0.0328. The new Managed Distribution Policy targets an annualized rate of 11% of average monthly NAV, signaling a commitment to higher, more predictable shareholder payouts. With shares trading near a 52-week low at $4.40, the enhanced yield could attract income-focused buyers and help narrow the discount to NAV. The first payment under the new rate is set for July 31, with a July 23 ex-dividend date.
At the time of this announcement, MMT was trading at $4.40 on NYSE in the Finance sector, with a market capitalization of approximately $513.8M. The 52-week trading range was $4.37 to $4.87. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: PR Newswire.