Dividend Declaration, Updated Price & Yield Info
UBS Global Asset Management
New York, September 12, 2005 -- Investment Grade Municipal Income Fund Inc. (PPM), a closed-end management investment company normally investing substantially all of its assets in a diversified portfolio of tax-exempt municipal obligations, with common and preferred shares outstanding, today announced that the Fund's Board of Directors has declared a dividend from net investment income of $0.055 per share of common stock. The distribution is payable on September 30, 2005 to common shareholders of record as of September 22, 2005. The ex-dividend date is September 20, 2005. Under normal circumstances, the Fund invests at least 80% of its net assets in investment grade municipal obligations, the income from which is exempt from regular federal income tax.
Characteristics as of August 31, 2005:* ------------------------------------------------------------
Net Asset Value $15.86
Market Price $13.69
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NAV Yield 4.16%
Market Yield 4.82%
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* Net asset value (NAV), market price and yields will fluctuate. NAV yield is calculated by multiplying 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 |
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