Glass Lewis backs DMB board nominees ahead of Aug. 27 vote

Proxy advisory firm Glass Lewis has recommended that stockholders of BNY Mellon Municipal Bond Infrastructure Fund, Inc. (NYSE: DMB) vote in favor of the fund's three incumbent board nominees at its annual stockholders meeting scheduled for August 27, 2026.

Glass Lewis rejected the dissident's nominee, stating that a review of the fund's performance did not present a compelling case for change, according to a press release from BNY Mellon Investment Adviser, Inc.

The fund has outperformed its benchmark, the Bloomberg U.S. Municipal Bond Index, on a net asset value basis for six of the past ten calendar years. Its discount to net asset value has narrowed by approximately 50% since the end of 2024. The fund has also recorded three recent dividend increases as part of its monthly income distributions.

BNY Mellon Investment Adviser, Inc. is part of BNY Investments, which reported $2.2 trillion in assets under management as of June 30, 2026. Its parent, The Bank of New York Mellon Corporation (NYSE: BNY), held $62.6 trillion in assets under custody and/or administration as of the same date.

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