DWS Strategic Municipal Income Trust Announces Final Liquidating Distribution
November 19 2024 - 3:35PM
Business Wire
DWS Strategic Municipal Income Trust (formerly traded on
the NYSE under the symbol “KSM”) (the “Fund”) announced today the
payment of its final liquidating distribution to shareholders of
$10.131 per share. Liquidation proceeds are expected to be
disbursed on Thursday, November 21, 2024. The liquidating
distribution is being made pursuant to the Fund’s Plan of
Liquidation and Termination, as announced on July 19, 2024. The
liquidating distribution represents all of the Fund’s remaining net
assets except for amounts set aside for reasonably ascertainable
liabilities and obligations of the Fund.
DWS expresses its appreciation to the shareholders who have
supported the Fund and its Board over the years.
Important Information
Bond investments are subject to interest-rate, credit,
liquidity and market risks to varying degrees. When interest rates
rise, bond prices generally fall. Credit risk refers to the ability
of an issuer to make timely payments of principal and interest.
Municipal securities are subject to the risk that litigation,
legislation or other political events, local business or economic
conditions or the bankruptcy of the issuer could have a significant
effect on an issuer’s ability to make payments of principal and/or
interest. The market for municipal bonds may be less liquid than
for taxable bonds and there may be less information available on
the financial condition of issuers of municipal securities than for
public corporations. Investing in derivatives entails special risks
relating to liquidity, leverage and credit that may reduce returns
and/or increase volatility. Leverage results in additional risks
and can magnify the effect of any gains or losses. Although the
fund seeks income that is exempt from federal income taxes, a
portion of the fund’s distributions may be subject to federal,
state and local taxes, including the alternative minimum
tax.
Closed-end funds, unlike open-end funds, are not continuously
offered. There is a one-time public offering and once issued,
shares of closed-end funds are bought and sold in the open market
through a stock exchange. Shares of closed-end funds frequently
trade at a discount to the net asset value. The price of a fund’s
shares is determined by a number of factors, several of which are
beyond the control of the fund. Therefore, the fund cannot predict
whether its shares will trade at, below or above net asset
value.
Past performance is no guarantee of future results.
This press release shall not constitute an offer to sell or a
solicitation to buy, nor shall there be any sale of these
securities in any state or jurisdiction in which such offer or
solicitation or sale would be unlawful prior to registration or
qualification under the laws of such state or jurisdiction.
Certain statements contained in this release may be
forward-looking in nature. These include all statements relating to
plans, expectations, and other statements that are not historical
facts and typically use words like “expect,” “anticipate,”
“believe,” “intend,” and similar expressions. Such statements
represent management’s current beliefs, based upon information
available at the time the statements are made, with regard to the
matters addressed. All forward-looking statements are subject to
risks and uncertainties that could cause actual results to differ
materially from those expressed in, or implied by, such statements.
Management does not undertake any obligation to update or revise
any forward-looking statements, whether as a result of new
information, future events, or otherwise. The following factors,
among others, could cause actual results to differ materially from
forward-looking statements: (i) the effects of adverse changes in
market and economic conditions; (ii) legal and regulatory
developments; and (iii) other additional risks and uncertainties,
including public health crises (including the pandemic spread of
viruses), war, terrorism, trade disputes and related geopolitical
events.
War, terrorism, sanctions, economic uncertainty, trade
disputes, public health crises and related geopolitical events have
led, and, in the future, may lead to significant disruptions in US
and world economies and markets, which may lead to increased market
volatility and may have significant adverse effects on the fund and
its investments.
NOT FDIC/ NCUA INSURED • MAY LOSE VALUE • NO
BANK GUARANTEE NOT A DEPOSIT • NOT INSURED BY ANY FEDERAL
GOVERNMENT AGENCY
DWS Distributors, Inc. 222 South Riverside Plaza Chicago,
IL 60606-5808 www.dws.com Tel (800) 621-1148 © 2024 DWS Group GmbH
& Co. KGaA. All rights reserved
The brand DWS represents DWS Group GmbH & Co. KGaA and any
of its subsidiaries such as DWS Distributors, Inc. which offers
investment products or DWS Investment Management Americas, Inc. and
RREEF America L.L.C. which offer advisory services. (R-103691)
(11/24)
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version on businesswire.com: https://www.businesswire.com/news/home/20241119425443/en/
For additional information:
DWS Press Office (212) 454-4500 Shareholder Account
Information (800) 294-4366 DWS Closed-End Funds (800)
349-4281
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