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AllianceBernstein National Municipal Income Fund, Inc. Reports Third Quarter Earnings

On September 25, 2026, the AllianceBernstein National Municipal Income Fund, Inc. (traded on the NYSE as AFB), a registered closed-end investment company, disclosed its financial results for the third quarter, which concluded on July 31, 2026. The Fund's total net assets exhibited a slight decrease from $345,321,589 on April 30, 2026, to $339,074,327 by the end of July 2026. This represents a notable increase from the $322,750,581 in net assets reported on the same date a year prior.

The net asset value per share of common stock was reported at $11.80, indicating a minor decline from $12.01 in the preceding quarter. Notably, the number of outstanding shares remained constant at 28,744,936 throughout this reporting period, allowing for consistent valuation progress tracking.

During the reporting period, which runs from May 1, 2026, to July 31, 2026, the Fund accrued a total net investment income of $4,709,442, translating into $0.16 per share of common stock. This marks a slight improvement from the $4,314,451 earned in the previous quarter, where the earnings per share stood at $0.15. Moreover, this income is a significant increase compared to the $4,015,722 reported in the same period last year, where earnings per share were even lower at $0.14.

However, despite the positive growth in investment income, the Fund experienced total net realized and unrealized losses of $6,629,441, equating to a loss of $0.23 per share. Such figures reveal the volatility inherent in capital markets, especially when comparing them to the second quarter’s loss of $2,181,270, equivalent to a loss of $0.08 per share, and last year’s more substantial loss of $15,775,819, which recorded a higher $0.55 loss per share.

Overall, these results illustrate a mixed performance backdrop for the Fund, where increased investment income contrasts sharply with significant losses stemming from market fluctuations. This divergence signals the potential for both recovery and further risk as the economic landscape continues to evolve.

The management of AllianceBernstein National Municipal Income Fund, Inc. is undertaken by AllianceBernstein L.P., an established leader in investment management specializing in a range of asset classes, including fixed income. Such expertise will be crucial as they navigate the ongoing challenges presented by market dynamics.

In conclusion, while the Fund shows resilience in terms of income generation, the struggles evident in net realized and unrealized losses suggest an ongoing battle amidst fluctuating investment markets. Stakeholders will be keenly awaiting future updates as the Fund seeks to stabilize its net assets and optimize returns in the months ahead.