(SEL)(SQF) Seligman Select and Quality Municipal Funds to Pay May Dividend.NEW YORK--(BUSINESS WIRE)--May 5, 1998--Directors of Seligman Select Municipal Fund, Inc., today declared a dividend of $0.0620 per share, and Directors of Seligman Quality Municipal Fund, Inc., declared an income dividend of $0.0750 per share. In the case of Seligman Quality Municipal Fund, a small portion may be in excess of Tax-Exempt income Tax-exempt income Dividends and interest not subject to federal and, in some cases, state and local income taxes. , which would be taxable as ordinary income. The exact amount can not be determined until after the end of Quality's fiscal year, Oct. 31, 1998. The gains for both Funds will be payable May 27 to shareholders of record on May 15, 1998. Shares of the Seligman Quality Municipal Fund and Seligman Select Municipal Fund will be offered "ex-dividend" on May 13, 1998. The Seligman Select Municipal Fund dividend is the Fund's 95th consecutive monthly payment to stockholders since its inception in February 1990. Seligman Quality Municipal Fund dividend is the Fund's 74th consecutive monthly payment to stockholders since its inception in November 1991. J. & W. Seligman & Co., Inc., founded in 1864, is an investment manager and advisor with more than $26 billion in assets. The firm serves pension plans, institutions and individuals. J. & W. Seligman manages the Seligman Group of Funds group of funds See family of funds. , with more than 50 portfolios, including Trillium trillium or wake-robin (trĭl`ēəm), any plant of the large genus Trillium, attractive spring wildflowers of the family Liliaceae (lily family), native to North America and E Asia. , Seligman's Variable Annuity Variable Annuity An insurance contract in which, at the end of the accumulation stage, the insurance company guarantees a minimum payment. The remaining income payments can vary depending on the performance of the managed portfolio. , and provides a range of retirement plans. In addition to Tri-Continental Corp., the nation's largest closed-end, diversified equity fund, J. & W. Seligman manages two closed-end municipal bond funds Municipal Bond Fund A mutual fund that invests in municipal bonds, operating either as an investment trust or as an open-end fund. Notes: Because the bonds are local government issues, they usually help to maximize tax-exempt income. which are traded on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. . Specialty international and global funds are provided through Seligman Henderson Co., a partnership between J. & W. Seligman & Co. and Henderson plc, one of Europe's largest investment managers. CONTACT: Rebecca Shroyer, 212/850-1239 |
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