#United States #Pittsburgh #Municipal Income Fund #Federated Hermes #FMN

Federated Hermes Premier Municipal Income Fund Updates

The Federated Hermes Premier Municipal Income Fund (NYSE: FMN) has recently announced an important development for its investors. The fund has declared a dividend aimed at providing current dividend income that is free from regular federal income tax as well as the alternative minimum tax (AMT). This tax-free income is particularly beneficial for those seeking investment options with minimal tax implications.

Key Dividend Details

• - Dividend Amount: $0.0400 per share
• - Record Date: December 23, 2024
• - Ex-Dividend Date: December 23, 2024
• - Payable Date: January 2, 2025
• - Change from Previous Month: An increase of $0.0020 per share

The decision to increase the dividend reflects a rise in portfolio income, which has come about due to strategic shifts in the fund's asset allocation. The fund managed to improve its earnings by adjusting its exposure, reducing the weight of mid- and high-quality securities while augmenting the allocation to higher-yielding BBB rated and lower-rated securities. Investors are encouraged to check the fund’s performance and portfolio details on the official Federated Hermes website.

Changes in the Board of Trustees

In addition to the dividend announcement, the fund will undergo changes in its Board of Trustees. As of December 31, 2024, two current trustees, Maureen Lally-Green and P. Jerome Richey, will retire from their roles. Their contributions have been instrumental in navigating the complexities of municipal income investing in today's fast-evolving market.

From January 1, 2025, three new independent trustees will be appointed: Karen L. Larrimer, Max F. Miller, and Frank J. Nasta. Each brings a wealth of experience from various sectors, including finance, law, and academia, which will contribute to the strategic direction of the fund.

Meet the New Trustees:

• - Karen L. Larrimer: Formerly Head of Retail Banking at The PNC Financial Services Group, Larrimer has held numerous roles in business and financial management. She remains active on several boards, including Highmark Inc.
• - Max F. Miller: A legal and academic professional, Miller serves as an Associate Professor and Director of Entrepreneurial Studies at Washington & Jefferson College. His experience as an attorney for Federated Investors adds a layer of valuable insight.
• - Frank J. Nasta: With extensive experience in legal and compliance roles within the investment management sector, Nasta most recently held a key position at JPMorgan Chase, further enhancing the trustees' expertise.

About Federated Hermes

Federated Hermes, Inc., a recognized global leader in active and responsible investment management, oversees approximately $800.5 billion in assets as of September 30, 2024. The organization provides a diverse range of investment solutions tailored to meet the needs of over 10,000 institutions worldwide. Their commitment to responsible investing underscores their strategy to evolve with the market while delivering optimal results for their clients.

For further insights and updates on Federated Hermes and their investment strategies, please visit FederatedHermes.com/us.

In conclusion, the recent dividend announcement and the strategic appointments to the fund's board demonstrate Federated Hermes' ongoing commitment to enhancing shareholder value and adapting to the changing landscape of municipal finance. Investors should stay tuned for more updates as the new trustees take on their roles in shaping the future of the fund.