BNY Mellon Strategic Municipals, Inc.
New York Stock ExchangeCapital 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.Quarterly Dividends Per Share
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in mil. unless spec.- CEO
- Roberto Cingolani
- Full Time Employees
- 53,778
- Sector
- Financial Services
- Industry
- Asset Management - Income
- Address
- 240 Greenwich Street New York NY United States of America 10286
- IPO Date
- Sep 23, 1987
- CIK
- 0000818972
- Website
- im.bnymellon.com
- Similar Companies
- Business
- BNY Mellon Strategic Municipals, Inc. (LEO) is a diversified closed-end management investment company that seeks to maximize current income exempt from federal income tax to the extent consistent with the preservation of capital; it invests under normal market conditions at least 80% of its assets in municipal obligations with tax-exempt income, including at least 50% in investment-grade municipal bonds or unrated equivalents, as well as high-yield municipal bonds, short-term municipal obligations, and derivative instruments for hedging or risk management; the fund employs leverage through borrowed funds to enhance returns and targets retail and institutional investors seeking tax-advantaged fixed income exposure primarily in the U.S. municipal bond market. Formed on September 23, 1987 and headquartered at 240 East Greenwich Street in New York, New York, the fund operates exclusively in the United States fixed income markets and is managed by BNY Mellon Investment Adviser, Inc., with a portfolio team led by Jeffrey Burger, CFA, since 2014, and Daniel Rabasco, CFA, Head of Municipal Bonds, since 2016; it features an annualized distribution rate of 4.38% as of October 31, 2025, a net expense ratio of 0.98% after waivers through November 30, 2025, managed assets reflecting leverage, and a portfolio characterized by long-term municipal investments across states like Alabama, with weighted average metrics including effective duration, maturity, and coupon rates tailored to interest rate sensitivity and yield generation. In recent developments, the fund raised its monthly distribution per common share multiple times within the past two years, including from $0.019 to $0.023 in May-June 2025 due to higher investment yields, with consistent $0.023 payouts declared through December 2025 payable on dates such as December 31, 2025 to shareholders of record on December 11, 2025; it maintains a history of monthly tax-exempt dividends over more than 30 years, with no reported acquisitions, funding rounds, or structural reorganizations in the last 1-2 years beyond ongoing portfolio adjustments and investor stake increases by firms like Advisors Asset Management in Q2 2025.
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