BNY Mellon Strategic Municipals

LEO

Market cap $399M

BNY Mellon Strategic Municipals, Inc. is a closed-end fund primarily investing in investment-grade municipal tax-exempt debt with long-term maturity profiles. LEO's municipal bond fund offers an unsubsidized SEC yield of ~4.81%, which on a tax-equivalent basis equals ~8.13% for an investor in the highest tax bracket. The current elevated interest rate levels along with a higher term spread suggests some possibility of a medium-term mean reversion for the performances. The credit spreads however remain tighter.

Municipal bonds offer tax-exempt income with lower default risk than similarly rated corporate bonds, making them attractive for higher-income investors. Long-duration munis are well-positioned to benefit from a potential decline in long-term interest rates. Closed-end funds provide diversified exposure but vary meaningfully in leverage, credit risk, distribution strategy, and discounts to NAV.

This report screens ~400 closed-end funds for those with distribution coverage above 100%, aiming to identify lower-risk income opportunities for investors. Key metrics include premium/discount, z-score, leverage, baseline expense, and coverage. Top picks feature funds that offer high yields, deep discounts, and strong coverage, highlighting attractive value and income potential.

This report screens ~400 closed-end funds (CEFs) for those with 100%+ net investment income coverage, highlighting lower risk of distribution cuts. Top lists identify CEFs with the widest discounts, most attractive z-scores, highest covered yields, and best combinations of value and income. Investors are encouraged to use these rankings as a starting point for due diligence, not as final buy or sell recommendations.

NEW YORK--(BUSINESS WIRE)--BNY Mellon Investment Adviser, Inc. announced today that BNY Mellon Municipal Income, Inc., BNY Mellon Strategic Municipal Bond Fund, Inc. and BNY Mellon Strategic Municipals, Inc. (each, a "Fund") have declared a monthly distribution for each Fund's common shares as summarized below. The distributions are payable March 29, 2024 to shareholders of record on March 14, 2024, with an ex-dividend date of March 13, 2024.     Fund     Ticker Monthly Distribution Per Share C.

NEW YORK--(BUSINESS WIRE)--BNY Mellon Investment Adviser, Inc. announced today that BNY Mellon Municipal Income, Inc., BNY Mellon Strategic Municipal Bond Fund, Inc. and BNY Mellon Strategic Municipals, Inc. (each, a "Fund") have declared a monthly distribution for each Fund's common shares as summarized below. The distributions are payable February 29, 2024 to shareholders of record on February 14, 2024, with an ex-dividend date of February 13, 2024.     Fund     Ticker Monthly Distribution Pe.

NEW YORK--(BUSINESS WIRE)--BNY Mellon Investment Adviser, Inc. announced today that BNY Mellon Municipal Income, Inc., BNY Mellon Strategic Municipal Bond Fund, Inc. and BNY Mellon Strategic Municipals, Inc. (each, a "Fund") have declared a monthly distribution for each Fund's common shares as summarized below. The distributions are payable December 29, 2023 to shareholders of record on December 14, 2023, with an ex-dividend date of December 13, 2023.     Fund     Ticker Monthly Distribution Pe.