Bulldog Investors Sends Letter to BNY Mellon Municipal Income
March 05, 2024 at 12:56 pm EST
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On March 5, 2024, Bulldog Investors, LLP sent a letter to BNY Mellon Municipal Income Fund?s secretary advising the Board of Directors of the Fund that Bulldog Investors intends to nominate 2 candidates, Andrew Dakos and Phillip Goldstein, for election as directors and to present 1 proposal, that the Board consider measures to allow stockholders to monetize their shares at a price at or close to net asset value, for a stockholder vote at the Fund's annual meeting for 2024. Bulldog Investors also stated that it would be pleased to discuss these matters with a representative of the Fund with the goal of avoiding a proxy contest.
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. 
