The fund’s new payout yields 5.95% and marks the first increase since the prior $0.026 dividend.
BNY Mellon’s strategic Municipal bond fund DSM declared a $0.030 per-share monthly dividend, up 15.4% from the previous $0.026 payout. The increase lifts the fund’s forward yield to 5.95%.
The last dividend adjustment occurred at $0.026, which had been in place for the prior distribution period. The new rate reflects recent strength in municipal bond income.
The dividend is payable June 30 to shareholders of record June 11, with an ex-dividend date of June 11.