Insured Municipal Income Fund Inc. - Dividend Declaration and Portfolio Statistics.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Insured Municipal Income Fund Inc. (NYSE NYSE See: New York Stock Exchange : PIF (Program Information File) A data file in Windows 3.x and NT that stores window settings for DOS applications. It allows screen size, fonts and other options to be selected in order to customize the way the DOS app appears under Windows. ), a closed-end management investment company normally investing substantially all of its assets in a diversified diversified (di·verˑ·s portfolio of tax-exempt municipal obligations, with common and preferred shares Preferred shares Preferred shares give investors a fixed dividend from the company's earnings and entitle them to be paid before common shareholders. See: Preferred stock. outstanding, today announced that the Fund's Board of Directors has declared a dividend from net investment income of $0.065 per share of common stock. The dividend is payable on September 30, 2004 to common shareholders of record as of September 17, 2004. The ex-dividend date Ex-dividend date The first day of trading when the buyer of a stock is no longer entitled to the most recently announced dividend payment ( i.e. the trade will settle the day after the record date, too late for the buyer to appear on the shareholder record and receive the dividend. is September 15, 2004. Under normal circumstances, the Fund invests at least 80% of its net assets Net assets The difference between total assets on the one hand and current liabilities and noncapitalized long-term liabilities on the other hand. net assets See owners' equity. in insured municipal obligations, the income from which is exempt from regular federal income tax.
Portfolio Statistics (% of total portfolio assets) as of August
31, 2004:
Top Ten States Top Five Sectors
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California 20.5% Power 22.0%
Texas 17.1 Escrowed to Maturity 12.1
New York 12.8 Water & Sewer 11.7
Washington 8.1 Hospital 8.1
Illinois 7.9 Airport 5.6
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New Mexico 4.9 Total 59.5%
Rhode Island 3.8 Characteristics
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Massachusetts 2.9 Net Asset Value $15.22
Michigan 2.3 Market Price $13.30
Nevada 2.3 IPO Price (1993) $15.00
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Total September 2004 Dividend
82.6% (per common share) $0.065
Leverage** 40.02%
Credit Quality
----------------------------- Weighted Average Maturity 10.68 yrs.
AAA/Aaa 87.3% Weighted Average Duration 4.73 yrs.
A1/P1 12.7 Weighted Average Coupon 4.67%
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Total 100.0%
Price to Date Maturity/Call
Yields * Distribution
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NAV Yield 5.12% 2004 12.0
Market Yield 5.86% 2005 2.0
IPO Yield 5.20% 2006-2015 38.4
2016-2031 47.6
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Total 100.0%
* NAV See navigation system and navigation bar. yield is calculated by multiplying mul·ti·ply 1 v. mul·ti·plied, mul·ti·ply·ing, mul·ti·plies v.tr. 1. To increase the amount, number, or degree of. 2. Mathematics To perform multiplication on. the current month's dividend by 12 and dividing by the month-end net asset value. Market yield is calculated by multiplying the current month's dividend by 12 and dividing by the month-end market price. IPO (Initial Public Offering) The first time a company offers shares of stock to the public. While not a computer term per se, many founders, employees and insiders of computer companies have found this acronym more exciting than any tech term they ever heard. yield is calculated by multiplying the current month's dividend by 12 and dividing by the initial public offering price. Prices and yields will vary. The Fund is actively managed and its portfolio composition will vary over time. ** As a percentage of total assets. Leverage may vary. |
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