NEW YORK--(BUSINESS WIRE)--MainStay DefinedTerm Municipal Opportunities Fund (the “Fund”) (NYSE:MMD) today announced monthly dividend distributions of $0.097 per common share for the months of July, August and September 2014. This amount represents an increase from the Fund’s April, May, June dividend distribution which was $0.096 per common share.
The Fund is also pleased to announce that it will host its next shareholder conference call on July 8, 2014 at 4:15pm ET. The call is open to the public and will be led by David Dowden, the Fund’s Co-Portfolio Manager and a Managing Director of the MacKay Municipal Managers™ team at MacKay Shields LLC. Shareholders are invited to submit questions in advance of the call by sending an email to firstname.lastname@example.org.
Details for the call are as follows:
|Call Date:||Tuesday, July 8, 2014|
|Call Time:||4:15pm Eastern Time|
|Call Number:||(877) 648-7974|
|Replay Number:||(855) 859-2056|
Please note that a replay of the call will be available for two months, beginning on or before Tuesday, July 22, 2014. A written summary of the call will be available at www.mainstayinvestments.com/mmd.
Dividend Distribution Schedule:
|Month||Declaration Date||Ex-Date||Record Date||Payable Date|
The Fund's dividend is derived from its monthly undistributed net investment income and does not contain any return of principal.
The Fund’s daily New York Stock Exchange closing prices, net asset values per share, as well as other information, are available at www.mainstayinvestments.com/mmd or by calling the Fund’s shareholder servicing agent at (855) 456-9683.
Subscribe to the Weekly MainStay Muni Monitor to receive weekly perspectives from MacKay Municipal Managers™ by going to mainstayinvestments.com/munis and entering your e-mail address.
About MainStay Investments
With over $103 billion in assets under management as of May 31, 2014, MainStay Investments is the mutual fund distribution arm of New York Life. MainStay provides financial advisors access to a powerful mix of autonomous, institutional investment managers, delivered by people who understand the needs of today’s financial advisor. As an indirect subsidiary of New York Life Insurance Company, a Fortune 100 company founded in 1845, MainStay is owned by the largest mutual life insurance company in the United States* and one of the largest life insurers in the world.
About MacKay Shields LLC
MacKay Shields LLC (“MacKay”) serves as the Fund’s investment sub-advisor. MacKay is an indirect wholly-owned subsidiary of New York Life Insurance Company and a wholly-owned subsidiary of New York Life Investment Management Holdings LLC. MacKay is a multi-product investment management firm with over $86.9 billion in assets under management as of May 31, 2014. MacKay manages a number of fixed income strategies for institutional clients and retail mutual funds, including: high yield, high yield active core, core plus, global fixed income, municipal and investment grade. MacKay also manages a convertible strategy.
*Based on revenue as reported by “Fortune 500 ranked within Industries, Insurance: Life, Health (Mutual),” Fortune magazine, 6/16/14. For methodology, please see http://fortune.com/fortune500.