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Julie Young
Julie Young
Articles (1117) 

AllianceBernstein Announces Fund Dividends

AWF, AFB and AKP paying monthly dividend with ex-dividend date of Oct. 5

September 27, 2017 | About:

Three AllianceBernstein funds have announced monthly dividends. The AllianceBernstein Global High Income Fund (NYSE:AWF), AllianceBernstein National Municipal Income Fund (NYSE:AFB) and Alliance California Municipal Income Fund (NYSE:AKP) 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.

About the author:

Julie Young
Julie Young is a financial writer with comprehensive experience in the financial services industry. She writes about investments, investment products, financial market news and economic trends. Julie has a Master of Science in finance from Boston College and a Bachelor of Science in finance from the University of Arkansas.

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