Putnam Managed Municipal Income Trust raises its monthly payout to $0.033, marking a 24.5% increase from the prior $0.026 dividend.
Putnam Managed Municipal Income Trust (PMM) announced a 24.5% increase in its monthly dividend to $0.033 per share, up from $0.026. The new payout yields 6.29% on a forward basis.
The prior dividend stood at $0.026, with the last adjustment occurring in the previous quarter. The trust will distribute the dividend on June 30 to shareholders of record as of June 23, with additional payouts scheduled for July and August.
The move reflects the trust’s focus on delivering enhanced income to investors amid stable municipal bond market conditions.