BlackRock Municipal Income Fund, Inc. (MUI) Declares Final Distribution as Part of its Conversion to the Institutional Share Class (MUNEX) of BlackRock Municipal Credit Alpha Portfolio, Inc.
NEW YORK, March 04, 2025–(BUSINESS WIRE)–BlackRock Municipal Income Fund, Inc. (MUI) announced a distribution today as detailed below.
Shareholders will receive a final distribution from MUI to be paid March 20, 2025 representing the period March 1, 2025 through March 23, 2025. The conversion is anticipated to close on March 24, 2025, at which time MUNEX will begin a daily record & ex-date to be paid March 31, 2025.
MUNEX represents the Institutional Share Class and is expected to launch with a 5.75% annualized rate on the initial NAV with a daily record and ex-date and monthly payment. This represents a higher annualized distribution rate compared to MUI’s approximately 5.0% distribution rate on NAV.
Final MUI Distribution:
Declaration-3/3/2025
Ex-Date- 3/14/2025
Record- 3/14/2025
Payable- 3/20/2025
*The $0.0408 represents a daily rate of $0.001774 for 23 days of MUI, approximately a 5.0% annualized distribution rate of NAV.
Notes: MUI’s final distribution will be paid in cash and is not eligible for reinvestment. MUI delisted from the NYSE on February 14, 2025. PRESS RELEASE: MUI Delisting and Conversion to MUNEX
* In order to comply with the requirements of Section 19 of the Investment Company Act of 1940, as amended (the “1940 Act”), the Fund noted above posted to the DTC bulletin board and sent to its shareholders of record as of the applicable record date a Section 19 notice with the previous distribution payment. The Section 19 notice was provided for informational purposes only and not for tax reporting purposes. This information can be found in the “Closed-End Funds” section of www.blackrock.com. As applicable, the final determination of the source and tax characteristics of all distributions in 2025 will be made after the end of the year.
The fixed amounts distributed per share or distribution rate, as applicable, are subject to change at the discretion of the Fund’s Board of Directors/Trustees. Under its Plan, the Fund will distribute all available investment income to its shareholders, consistent with its investment objectives and as required by the Internal Revenue Code of 1986, as amended (the “Code”). If sufficient income (inclusive of net investment income and short-term capital gains) is not available on a monthly basis, a Fund will distribute long-term capital gains and/or return capital to its shareholders in order to maintain a level distribution.
The amounts and sources of distributions reported are only estimates and are being provided to you pursuant to regulatory requirements and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon each Fund’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes.
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