Dividend Declaration and Updated Price & Yield Information
UBS Global Asset Management
New York, May 14, 2007 -- 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 $0.0525 per share of common stock. The dividend is payable on May 31, 2007 to common shareholders of record as of May 24, 2007. The ex-dividend date is May 22, 2007. 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 April 30, 2007:*
Net Asset Value $15.37
Market Price $13.90
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NAV Yield 4.10%
Market Yield 4.53%
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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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