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.
