Federated Investors’ Closed-End Municipal Funds Declare Monthly Dividends

PITTSBURGH, Sept. 11, 2017 /PRNewswire/ — Federated Premier Municipal Income Fund (NYSE: FMN) and Federated Premier Intermediate Municipal Income Fund (NYSE: FPT) have declared their monthly dividends.  The funds seek to provide investors with current dividend income that is exempt from regular federal income tax.  In addition, these funds feature income exempt from the federal alternative minimum tax (AMT).

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Investors can view additional portfolio information in the Products section of FederatedInvestors.com.

The Boards of Trustees for FPT and FMN, upon the recommendation of the Funds’ investment adviser, Federated Investment Management Company, have approved FPT reorganizing with and into FMN in what is expected to be a tax-free transaction.  Implementing the reorganization also requires the approval of FPT’s and FMN’s shareholders and, if so approved, is currently anticipated to occur during the fourth quarter of 2017. 

Federated Investors, Inc. (NYSE: FII) is one of the largest investment managers in the United States, managing $360.4 billion in assets as of June 30, 2017.  With 122 funds, as well as a variety of separately managed account options, Federated provides comprehensive investment management worldwide to more than 8,500 institutions and intermediaries including corporations, government entities, insurance companies, foundations and endowments, banks and broker/dealers.  For more information, visit FederatedInvestors.com. 

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This press release mentions a reorganization, which, if approved by shareholders, would be conducted pursuant to an agreement and plan of reorganization that is included in a registration statement that has been filed by FMN (the Registration Statement) with the SEC. The Registration Statement may be amended or withdrawn until the Registration Statement is declared effective by the SEC. The joint proxy statement/prospectus included in the Registration Statement will not be distributed to shareholders of FPT and FMN unless and until the Registration Statement is declared effective by the SEC. The final joint proxy statement/prospectus will contain information with respect to the investment objectives, risks, charges and expenses of the funds and other important information about FPT and FMN. The joint proxy statement/prospectus will constitute neither an offer to sell securities, nor will it constitute a solicitation of an offer to buy securities, in any state where such offer or sale is not permitted.

Shareholders should read the Registration Statement and joint proxy statement/prospectus if and when those documents become effective and available as they will contain important information about the proposed reorganization.  Investors should consider the investment objectives, risks, charges and expenses of FPT and FMN carefully.

Certain statements made in this press release, such as those related to the reorganization, are forward-looking statements. Actual future results or occurrences may differ significantly from those anticipated in any forward-looking statements due to numerous factors.  These include, but are not limited to: market developments; legal and regulatory developments; and other additional risks and uncertainties.  As a result, none of the investment advisor, the fund or any other person assumes responsibility for the accuracy and completeness of such statements in the future.

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SOURCE Federated Investors, Inc.