Proxy advisory firms Institutional Shareholder Services and Glass Lewis have recommended that stockholders of BNY Mellon Strategic Municipals, Inc. (LEO) and BNY Mellon Strategic Municipal Bond Fund, Inc. (DSM) vote for the funds' three incumbent board nominees at annual meetings scheduled for June 11, 2026.

The advisory firms rejected a dissident nominee, stating that performance reviews of each fund did not demonstrate a compelling case for board changes, according to a statement from BNY Mellon Investment Adviser, Inc.

Both funds have added four new directors to their boards and implemented three recent dividend increases. The funds maintain expense ratios in the first quartile of their Lipper peer categories as of December 31, 2025, and have investment advisory fee waivers in place through May 31, 2027.

The statement noted that each fund's discount to net asset value has narrowed by more than 50% since the end of 2024.

BNY Mellon Investment Adviser manages the funds as part of BNY Investments, which oversees $2.1 trillion in assets under management as of March 31, 2026. The parent company, The Bank of New York Mellon Corporation (NYSE: BNY), holds $59.4 trillion in assets under custody and administration.

Stockholders can vote using the WHITE proxy card, with submissions recommended through the website listed on the card due to the proximity of the meeting date. EQ Fund Solutions serves as the proxy solicitor for the funds.