RiverNorth Managed Duration Municipal Income Fund, Inc. Declares Monthly Distributions of $0.0917 Per Share

Apr 07, 2020

RiverNorth Managed Duration Municipal Income Fund, Inc. (the “Fund”) (NYSE: RMM) announced the declaration of monthly distributions of $0.0917 per common share for the months of April, May and June 2020, payable on the dates noted below. In accordance with the level distribution policy, the rate has been set equal to 5.50% based on the Fund’s initial public offering price of $20.00 per share (as of market close July 26, 2019). Based on the Fund’s current net asset value (NAV) per share of $17.51 (as of market close March 31, 2020), the distributions represent an annualized distribution rate of 6.28%. Based on the Fund’s current market price per share of $17.88 the annualized market price distribution rate is 6.15%.

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