Bny Mellon Municipal Income, Inc. Reports Earnings Results for the Full Year Ended September 30, 2020
November 25, 2020 at 02:04 pm EST
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BNY Mellon Municipal Income, Inc. announced earnings results for the full year ended September 30, 2020. For the full year, the company announced net income was USD 2.726 million.
BNY Mellon Municipal Income, Inc. (the Fund) is a diversified closed-end management investment company. The Fundâs investment objective is to maximize current income exempt from federal income tax to the extent consistent with the preservation of capital. Under normal market conditions, the Fund invests at least 80% of the value of its net assets in municipal obligations and invests in municipal obligations which, at the time of purchase, are rated investment grade or the unrated equivalent as determined by advisor in the case of bonds, and rated in the two highest rating categories or the unrated equivalent as determined by advisor. The Fund may invest more than 25% of the value of its total assets in industrial development bonds which, although issued by industrial development authorities, may be backed only by the assets and revenues of the non-governmental users. BNY Mellon Investment Adviser, Inc. serves as the Fund's investment advisor.
BNY MELLON MUNICIPAL INCOME, INC. 
