Franklin Templeton, a major asset manager, has announced the publication of the monthly 19(a) distribution notices for two of its municipal bond closed-end funds.

These notices, required under Section 19(a) of the Investment Company Act of 1940, provide shareholders with detailed information on the sources of the funds' monthly distributions.

For the Putnam Managed Municipal Income Trust (NYSE: PMM), the March 2026 monthly distribution was $0.0265 per share, sourced entirely from net investment income. On a cumulative basis for the fiscal year from November 2025 through March 2026, the fund has distributed $0.1325 per share, with 94.5% from net investment income, 0.2% from short-term capital gains, and 5.3% from return of capital.

For the Putnam Municipal Opportunities Trust (NYSE: PMO), the March 2026 monthly distribution was $0.0393 per share, also 100% from net investment income. The cumulative fiscal-year-to-date distribution through March 2026 is $0.4323 per share, consisting of 90.7% from net investment income, 2.2% from short-term capital gains, and 7.1% from return of capital.

It is important to note that, under a previously announced managed distribution plan, the monthly distribution rates for both funds have been increased for June 2026. The PMM fund's rate will rise to $0.0330 per share, and the PMO fund's rate will increase to $0.05200 per share.

Franklin Templeton cautions that the distribution amounts and sources reported in the 19(a) notices are estimates and are not for tax reporting purposes. The final amounts and character of distributions are subject to change based on the funds' investment performance for the remainder of the fiscal year and applicable tax regulations. Shareholders will receive a Form 1099-DIV after the calendar year ends for federal income tax purposes.

In terms of long-term performance, as of the end of February 2026, the PMM fund had a five-year average annualized total return of 1.30% with a current distribution rate of approximately 4.64%. The PMO fund had a five-year average annualized total return of 1.18% with a current distribution rate of about 4.06%.