BNY Mellon Intermediate Municipal Bond Fund, Inc.
DITEX
NASDAQ- -
USD
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- -
Capital Structure
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Bonds
- Address
- 240 Greenwich Street New York NY United States of America 10286
- IPO Date
- Aug 11, 1983
- CIK
- 0000718935
- Website
- bny.com
- Similar Companies
- Business
- BNY Mellon Intermediate Municipal Bond Fund, Inc. (DITEX) is a closed-end investment company that seeks maximum current income exempt from federal income tax while preserving capital. The fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in a diversified portfolio of municipal bonds providing income exempt from federal income tax, with a dollar-weighted average maturity generally between three and ten years; it typically invests substantially all assets in such bonds, which are rated A or higher at purchase (or unrated equivalents determined by the sub-adviser), and may allocate up to 20% to lower-rated or high-yield municipal bonds. Holdings are predominantly U.S. municipal tax-exempt bonds (approximately 99%), including top positions such as King County Washington Public Hospital District No. 001 5%, Texas Municipal Gas Acquisition & Supply Corp IV Gas Supply Revenue 5.5%, and Great Lakes Water Authority Michigan Water Supply System Revenue 5%; the portfolio emphasizes intermediate-term securities with moderate interest-rate sensitivity and mid credit quality. Founded in 1983 and domiciled in the United States, the fund operates primarily in the municipal national intermediate category, targeting tax-sensitive investors such as individuals and institutions seeking federal tax-exempt income with controlled volatility. It is managed by BNY Mellon Investment Adviser, Inc., with sub-investment advice from Insight North America LLC; key portfolio managers include Thomas Casey (since 2011) and Daniel Rabasco, CFA (since 2018), both with extensive municipal bond experience. The fund maintains total net assets of approximately $382 million, a net expense ratio of 0.62%-0.76%, and a minimum initial investment of $2,500, with shares available for sale in the United States. In recent years, the fund has experienced portfolio management continuity under its current team, with no major portfolio manager departures or additions reported since Daniel Rabasco's appointment in 2018; earlier changes, such as Christine Todd joining as a co-manager around 2012, reflect historical team enhancements. Performance metrics as of late 2025 show a 30-day SEC yield of 2.96% (taxable equivalent 5.00% at 40.80% tax rate), YTD return of 4.48%-4.58%, and a Morningstar 3-star rating in the municipal national intermediate category. No significant acquisitions, funding rounds, partnerships, new product launches, or strategic reorganizations specific to the fund have been announced in the last 1-2 years, amid stable operations within BNY Mellon's broader municipal bond offerings.