Seligman Select Municipal Fund, Inc. Announces February Income Dividend Distribution
February 06 2009 - 3:52PM
Business Wire
Seligman Select Municipal Fund, Inc. (�Select Municipal�) (NYSE:
SEL) today announced an income dividend of $0.036 per common share.
The dividend will be payable February 23, 2009 to stockholders of
record on February 17, 2009. Common shares of Select Municipal will
be offered �ex-dividend� on February 12, 2009.
Effective November�7, 2008, Select Municipal is managed by
RiverSource Investments, LLC, a wholly owned subsidiary of
Ameriprise Financial, Inc. Prior to then, Select Municipal was
managed by J.�& W. Seligman�& Co. Incorporated. RiverSource
Fund Distributors, Inc. (formerly known as Seligman Advisors, Inc.)
is the principal underwriter of the RiverSource family of funds,
which includes Select Municipal.
RiverSource Investments, LLC, 200 Ameriprise Financial Center,
Minneapolis, Minnesota 55474, is also the investment manager of the
other funds in the Seligman Group of Funds, and is wholly owned
subsidiary of Ameriprise Financial, Inc. Ameriprise Financial, Inc.
is a financial planning and financial services company that has
been offering solutions for clients� asset accumulation, income
management and protection needs for more than 110 years. In
addition to managing investments for the Seligman Group of Funds,
RiverSource manages investments for the RiverSource funds, itself
and its affiliates. For institutional clients, RiverSource and its
affiliates provide investment management and related services, such
as separate account asset management, and institutional trust and
custody, as well as other investment products.
The net asset value of shares of Seligman Municipal may not
always correspond to the market price of such shares. Shares of
many closed-end funds frequently trade at a discount from their net
asset value. Select Municipal is subject to stock market risk,
which is the risk that stock prices overall will decline over short
or long periods, adversely affecting the value of an investment in
the fund.
Fixed-income securities owned by Select Municipal are subject to
interest-rate risk, credit risk, repayment risk, and market risk.
To the extent that Select Municipal concentrates its investments in
municipal securities issued by a single state and its
municipalities, specific events or factors affecting a particular
state may have an impact on the municipal securities of that state
without affecting the municipal market in general. There is no
guarantee that Select Municipal�s investment goals/objectives will
be met, and you could lose money.
You should consider the investment objectives, risks, charges,
and expenses of Select Municipal carefully before investing. You
can obtain Select Municipal�s most recent periodic reports and
other regulatory filings by contacting your financial advisor or
Seligman Services, Inc. at 800-597-6068. These reports and other
filings can also be found on the Securities and Exchange
Commission�s EDGAR database. You should read these reports and
other filings carefully before investing.
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