ISS and Glass Lewis Recommend DSM and LEO Stockholders Vote to Support Board Nominees
BNY Mellon Investment Adviser, Inc. announced today that proxy advisory firms Institutional Shareholder Services ("ISS") and Glass Lewis have recommended that stockholders of BNY Mellon Strategic Municipals, Inc. ("LEO") and BNY Mellon Strategic Municipal Bond Fund, Inc. ("DSM") vote in favor of each Fund's three incumbent nominees on the WHITE proxy card ahead of the Funds' annual stockholders meetings on June 11, 2026.
In making their recommendations, ISS and Glass Lewis rejected the dissident's nominee, noting that a review of performance at each Fund had shown that a compelling case for change had not been made.
LEO and DSM are stewarded by effective, experienced and diverse Boards of Directors that protect the best interests of their respective stockholders. The Funds have each recently refreshed their Board composition with four new qualified directors, who have brought fresh perspectives and relevant expertise. Three recent dividend increases add to a history of consistent monthly income distributions without return of capital. Each Fund's total expenses rank in the first quartile of their Lipper peer categories as of December 31, 2025, and have a waiver of a portion of their investment advisory fee in place until May 31, 2027. Each Fund's discount to its net asset value has also narrowed by more than 50% since 2024 year-end.
Vote for LEO and DSM Board Nominees on the WHITE Card
Only your latest dated proxy will count at the meeting. Please vote for all LEO and DSM nominees on the WHITE proxy card today. Due to the proximity of the annual stockholders meetings on June 11, votes should be submitted using the website provided on the WHITE proxy card to ensure that they are counted.
If you have any questions about the proposal to be voted upon, please call the Funds' proxy solicitor, EQ Fund Solutions, toll-free at 877-732-3619.
The Funds' proxy statements, a copy of the Funds' most recent Annual Reports to Stockholders, and any proxy soliciting materials are available at www.bny.com/closed-end-funds.
Important Information
BNY Mellon Investment Adviser, Inc., the investment adviser for the Fund, is part of BNY Investments. BNY Investments is one of the world's largest asset managers, with $2.1 trillion in assets under management as of March 31, 2026. Through a client-first approach, BNY Investments brings investors specialist expertise through its seven investment firms offering solutions across every major asset class and backed by the breadth and scale of BNY. Additional information on BNY Investments is available on www.bny.com/investments. Follow us on LinkedIn for the latest company news and activity.
BNY Investments is a division of BNY, which has $59.4 trillion in assets under custody and/or administration as of March 31, 2026. Established in 1784, BNY is America's oldest bank. Today, BNY powers capital markets around the world through comprehensive solutions that help clients manage and service their financial assets throughout the investment life cycle. BNY is the corporate brand of The Bank of New York Mellon Corporation (NYSE:BNY). Additional information is available on www.bny.com. Follow us on LinkedIn or visit our newsroom for the latest company news.
Closed-end funds are traded on the secondary market through one of the stock exchanges. The Fund's investment returns and principal values will fluctuate so that an investor's shares may be worth more or less than the original cost. Shares of closed-end funds may trade above (a premium) or below (a discount) the net asset value of the fund's portfolio. There is no assurance that the Fund will achieve its investment objective.
This release is for informational purposes only and should not be considered as investment advice or a recommendation of any particular security.
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