Three AllianceBernstein funds have announced monthly dividends. The AllianceBernstein Global High Income Fund (AWF, Financial), AllianceBernstein National Municipal Income Fund (AFB, Financial) and Alliance California Municipal Income Fund (AKP, Financial) will pay a monthly dividend with an ex-dividend date of Oct. 5.
AllianceBernstein Global High Income Fund
The fund will pay a dividend of 6.99 cents per share. It is currently trading at $12.95 with a forward dividend yield of 6.48%. Year to date, the fund has a return of 3.02%. For the one-year period, it has gained 2.29%. For the three-year period, it has a return of -3.5%. The fund currently has 86.2 million shares outstanding with a market cap of $1.12 billion.
The fund seeks investments with high levels of current income and manages for capital appreciation. Its portfolio primarily includes high-income-paying, fixed-income securities from across the globe.
AllianceBernstein National Municipal Income Fund
The fund will pay a dividend of 5.205 cents per share. It is currently trading at $13.96 with a forward dividend yield of 4.48%. Year to date, the fund has a return of 5.58%. For the one-year period, it has a return of -5.31%. For the three-year period, it has a return of 3.77%. The fund currently has 28.7 million shares outstanding with a market cap of $401.2 million.
The fund seeks to invest in U.S. municipal fixed-income securities with high current income that are exempt from regular federal income tax. It invests at least 75% of the portfolio in investment-grade municipal bonds and 25% in high-yield municipals.
Alliance California Municipal Income Fund
The fund will pay a dividend of 4.724 cents per share. It is currently trading at $13.82 with a forward dividend yield of 4.10%. Year to date, the fund has a return of 4.3%. For the one-year period, it has a return of -10.59%. For the three-year period, it has gained 3.29%. It currently has 8.55 million shares outstanding with a market cap of $118.2 million.
The fund is focused on high current income, fixed-income securities in the state of California. It invests the majority of its assets in California municipal bonds with distributions that are exempt from federal and California income tax.
Disclosure: I do not own any shares of AWF, AFB or AKP.
