- AllianceBernstein National Municipal Income Fund, Inc. (AFB) completed the redemption of all its outstanding **2018 Variable Rate MuniFund Term Preferred Shares (2018 VMTPS)** on **October 27, 2025**.  **[1162027_20251027NY07874:0]** 
- The aggregate amount paid for the redemption was **$88.275 million**, plus accumulated but unpaid dividends.  **[1162027_20251027NY07874:0]** 
- The Fund utilized proceeds from the creation of **tender option bond (TOB) trusts** to finance this redemption and replace the leverage previously obtained through the 2018 VMTPS.  **[1162027_20251027NY07874:0]**

AllianceBernstein National Municipal Income Fund Redeems Preferred Shares and Establishes TOB Trusts

- AllianceBernstein National Municipal Income Fund (AFB) declared a monthly distribution of **$0.05018 per share** of investment income.  **[1162027_20251022NY04532:0]** 
- This distribution represents an **increase of $0.00361** from the previously paid **$0.04657 per share**.  **[1162027_20251022NY04532:0]** 
- The increase is intended to **align the Fund's monthly distributions with its current and projected earnings power**.  **[1162027_20251022NY04532:0]** 
- The distribution has an **ex-date and record date of November 6, 2025**, with the **payment date scheduled for November 21, 2025**.  **[1162027_20251022NY04532:0]**

AllianceBernstein National Municipal Income Fund Announces Increased Distribution Rate

- AllianceBernstein National Municipal Income Fund, Inc. (AFB) intends to redeem all of its outstanding **2018 Variable Rate MuniFund Term Preferred Shares (2018 VMTPS)**.  **[1162027_20251008NY93526:0]** 
- The redemption will be funded by proceeds from the successful creation of **Tender Option Bond (TOB) trusts**.  **[1162027_20251008NY93526:0]** 
- The aggregate amount to be paid for the redemption of the 2018 VMTPS is **$88.275 million**, plus accumulated but unpaid dividends, at a price of **$25,000 per share**.  **[1162027_20251008NY93526:0]** 
- The Fund expects to redeem the 2018 VMTPS on or about **October 27, 2025**, replacing the current leverage with proceeds from the TOB trusts.  **[1162027_20251008NY93526:0]**

AllianceBernstein National Municipal Income Fund Announces Plan to Redeem Preferred Shares and Create TOB Trusts

- AllianceBernstein National Municipal Income Fund, Inc. reported **total net investment income of $4,015,722** or **$0.14 per share** for the third fiscal quarter ended July 31, 2025.  **[1162027_20250926NY84393:0]** 
- For the same period, the Fund experienced a **total net realized and unrealized loss of ($15,775,819)** or **($0.55) per share**.  **[1162027_20250926NY84393:0]** 
- **Total net assets** were **$322,750,581** on July 31, 2025, a decrease from $337,926,439 on April 30, 2025, and $363,570,286 on July 31, 2024.  **[1162027_20250926NY84393:0]** 
- The **net asset value per share** stood at **$11.23** on July 31, 2025, compared to $11.77 on April 30, 2025, and $12.65 on July 31, 2024.  **[1162027_20250926NY84393:0]**

AllianceBernstein National Municipal Income Fund Reports Third Quarter Earnings

- The AllianceBernstein National Municipal Income Fund, Inc. released its monthly portfolio update as of **August 31, 2025**, reporting **Total Net Assets** of **$325.11 Million**.  **[1162027_20250922NY80218:0]** 
- The fund's **Total Fund Leverage** was **45.02%**, and its **Effective Duration** stood at **11.99 Years**.  **[1162027_20250922NY80218:0]** 
- The portfolio's largest bond maturity concentrations were **20 to 30 Years (59.89%)** and **more than 30 Years (22.56%)**.  **[1162027_20250922NY80218:0]** 
- The primary credit quality allocations were **AA (36.20%)** and **A (25.02%)**, with top state exposures in **Texas (14.22%)**, **California (9.49%)**, and **Florida (9.43%)**.  **[1162027_20250922NY80218:0]**

AllianceBernstein National Municipal Income Fund, Inc. Releases Monthly Portfolio Update

- AllianceBernstein National Municipal Income Fund, Inc. (NYSE: AFB) declared a distribution of **$0.04657 per share** of investment income.  **[1162027_20250825NY58212:0]** 
- The **ex-date and record date** for this distribution are **September 4, 2025**, with a payment date of **September 19, 2025**.  **[1162027_20250825NY58212:0]** 
- This distribution rate marks an **increase of $0.00696** from the previously paid **$0.03961 per share**.  **[1162027_20250825NY58212:0]** 
- The increase is intended to align the Fund's monthly distributions with its current and projected earnings power.  **[1162027_20250825NY58212:0]**

ALLIANCEBERNSTEIN NATIONAL MUNICIPAL INCOME FUND (AFB)