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Managed Municipals Portfolio Inc. -'MMU'- Sets New Rate

Publish Date : 11/30/2004 12:47:00 PM Source : Business News Onlypunjab.com

Managed Municipals Portfolio Inc., which is listed on the New York Stock Exchange under the symbol "MMU," announced a dividend from ordinary income of $0.0520 per share. The Fund had previously paid a rate of $0.0550 per share per month. In declaring the new rate, the Fund cited the higher cost of borrowing on its tax-exempt auction rate preferred shares, which has resulted in lower income available to holders of the Fund's common shares.

Managed Municipals Portfolio Inc., a non-diversified closed-end management investment company, is managed by Smith Barney Fund Management LLC., an indirect wholly-owned subsidiary of Citigroup Inc.

For more information, call Investor Relations at 1-888-735-6507.

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