EX-99 2 b_19anotices2024.htm 19(A) NOTICES TO BENEFICIAL OWNERS b_19anotices2024.htm

Sources of fund distributions

19(a) Notice

The table below provides an estimate of the sources of the Fund’s current distribution and its cumulative distributions paid this fiscal year to date. Amounts are expressed on a per share of common stock basis and as a percentage of the distribution amount.

        Estimated sources and percentages of distributions 
        Short-  Long-    Net  Short-  Long-   
    Per share  Net  term  term    invest-  term  term   
    distribution  investment  capital  capital  Return of  ment  capital  capital  Return of 
Ticker  Time period  (Jan.)  income  gains  gains  capital  income  gains  gains  capital 
PMM  Current                   
(FYE 10/31)  month  $0.0238  $0.0179  —  —  $0.0059  75.2%  0.0%  0.0%  24.8% 
  Fiscal YTD  $0.0714  $0.0525  —  —  $0.0189  73.5%  0.0%  0.0%  26.5% 
PMO  Current                   
(FYE 4/30)  month  $0.0350  $0.0245  —  —  $0.0105  70.0%  0.0%  0.0%  30.0% 
  Fiscal YTD  $0.3150  $0.2132  —  —  $0.1018  67.7%  0.0%  0.0%  32.3% 

 

The table below provides information regarding distributions and total return performance for various periods.

Data as of 12/31/23         
  Annualized  Cumulative 
  5-year return  Current distribution  Fiscal YTD return  Fiscal YTD distribution 
Ticker  at NAV  rate at NAV*  at NAV  rate at NAV† 
PMM (FYE 10/31)  2.14%  4.26%  17.56%  4.26% 
PMO (FYE 4/30)  2.80%  3.64%  6.02%  3.64% 

 

Performance includes the deduction of management fees and administrative expenses, assumes reinvestment of distributions, and does not account for taxes.

* Most recent distribution annualized and divided by NAV at the end of the period.

† Total fiscal period distributions annualized and divided by NAV at the end of the period.

You should not draw any conclusions about the Fund’s investment performance from the amount of this distribution or from the terms of the Fund’s Distribution Policy.

The Fund estimates that it has distributed more than its income and net realized capital gains; therefore, a portion of your distribution may be a return of capital. A return of capital may occur, for example, when some or all of the money that you invested in the Fund is paid back to you. A return of capital distribution does not necessarily reflect the Fund’s investment performance and should not be confused with “yield” or “income.”

The amounts and sources of distributions reported in this 19(a) Notice are only estimates and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend on the Fund’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes.

Please call your financial advisor with any questions.

Putnam Investments is a Franklin Templeton company.

SU006_BW 336213 1/24 

 


Sources of fund distributions

19(a) Notice

The table below provides an estimate of the sources of the Fund’s current distribution and its cumulative distributions paid this fiscal year to date. Amounts are expressed on a per share of common stock basis and as a percentage of the distribution amount.

        Estimated sources and percentages of distributions 
        Short-  Long-    Net  Short-  Long-   
    Per share  Net  term  term    invest-  term  term   
    distribution  investment  capital  capital  Return of  ment  capital  capital  Return of 
Ticker  Time period  (Feb.)  income  gains  gains  capital  income  gains  gains  capital 
PMM  Current                   
(FYE 10/31)  month  $0.0238  $0.0163  —  —  $0.0075  68.5%  0.0%  0.0%  31.5% 
  Fiscal YTD  $0.0952  $0.0688  —  —  $0.0264  72.3%  0.0%  0.0%  27.7% 
PMO  Current                   
(FYE 4/30)  month  $0.0350  $0.0246  —  —  $0.0104  70.3%  0.0%  0.0%  29.7% 
  Fiscal YTD  $0.3500  $0.2378  —  —  $0.1122  67.9%  0.0%  0.0%  32.1% 

 

The table below provides information regarding distributions and total return performance for various periods.

Data as of 1/31/24         
  Annualized  Cumulative 
  5-year return  Current distribution  Fiscal YTD return  Fiscal YTD distribution 
Ticker  at NAV  rate at NAV*  at NAV  rate at NAV† 
PMM (FYE 10/31)  2.14%  4.25%  18.16%  4.25% 
PMO (FYE 4/30)  2.60%  3.66%  5.89%  3.66% 

 

Performance includes the deduction of management fees and administrative expenses, assumes reinvestment of distributions, and does not account for taxes.

* Most recent distribution annualized and divided by NAV at the end of the period.

† Total fiscal period distributions annualized and divided by NAV at the end of the period.

You should not draw any conclusions about the Fund’s investment performance from the amount of this distribution or from the terms of the Fund’s Distribution Policy.

The Fund estimates that it has distributed more than its income and net realized capital gains; therefore, a portion of your distribution may be a return of capital. A return of capital may occur, for example, when some or all of the money that you invested in the Fund is paid back to you. A return of capital distribution does not necessarily reflect the Fund’s investment performance and should not be confused with “yield” or “income.”

The amounts and sources of distributions reported in this 19(a) Notice are only estimates and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend on the Fund’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes.

Please call your financial advisor with any questions.

Putnam Investments is a Franklin Templeton company.

SU006_BW 336306 2/24 

 


Sources of fund distributions

19(a) Notice

The table below provides an estimate of the sources of the Fund’s current distribution and its cumulative distributions paid this fiscal year to date. Amounts are expressed on a per share of common stock basis and as a percentage of the distribution amount.

        Estimated sources and percentages of distributions 
        Short-  Long-    Net  Short-  Long-   
    Per share  Net  term  term    invest-  term  term   
    distribution  investment  capital  capital  Return of  ment  capital  capital  Return of 
Ticker  Time period  (Mar.)  income  gains  gains  capital  income  gains  gains  capital 
PMM  Current                   
(FYE 10/31)  month  $0.0238  $0.0197  —  —  $0.0041  82.8%  0.0%  0.0%  17.2% 
  Fiscal YTD  $0.1190  $0.0885  —  —  $0.0305  74.4%  0.0%  0.0%  25.6% 
PMO  Current                   
(FYE 4/30)  month  $0.0350  $0.0275  —  —  $0.0075  78.6%  0.0%  0.0%  21.4% 
  Fiscal YTD  $0.3850  $0.2653  —  —  $0.1197  68.9%  0.0%  0.0%  31.1% 

 

The table below provides information regarding distributions and total return performance for various periods.

Data as of 2/29/24         
  Annualized  Cumulative 
  5-year return  Current distribution  Fiscal YTD return  Fiscal YTD distribution 
Ticker  at NAV  rate at NAV*  at NAV  rate at NAV† 
PMM (FYE 10/31)  2.05%  4.24%  18.75%  4.24% 
PMO (FYE 4/30)  2.46%  3.66%  6.03%  3.66% 

 

Performance includes the deduction of management fees and administrative expenses, assumes reinvestment of distributions, and does not account for taxes.

* Most recent distribution annualized and divided by NAV at the end of the period.

† Total fiscal period distributions annualized and divided by NAV at the end of the period.

You should not draw any conclusions about the Fund’s investment performance from the amount of this distribution or from the terms of the Fund’s Distribution Policy.

The Fund estimates that it has distributed more than its income and net realized capital gains; therefore, a portion of your distribution may be a return of capital. A return of capital may occur, for example, when some or all of the money that you invested in the Fund is paid back to you. A return of capital distribution does not necessarily reflect the Fund’s investment performance and should not be confused with “yield” or “income.”

The amounts and sources of distributions reported in this 19(a) Notice are only estimates and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend on the Fund’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes.

Please call your financial advisor with any questions.

Putnam Investments is a Franklin Templeton company.

SU006_BW 336406 3/24 

 


Sources of fund distributions

19(a) Notice

The table below provides an estimate of the sources of the Fund’s current distribution and its cumulative distributions paid this fiscal year to date. Amounts are expressed on a per share of common stock basis and as a percentage of the distribution amount.

        Estimated sources and percentages of distributions 
        Short-  Long-    Net  Short-  Long-   
    Per share  Net  term  term    invest-  term  term   
    distribution  investment  capital  capital  Return of  ment  capital  capital  Return of 
Ticker  Time period  (Apr.)  income  gains  gains  capital  income  gains  gains  capital 
PMM  Current                   
(FYE 10/31)  month  $0.0238  $0.0191  —  —  $0.0047  80.3%  0.0%  0.0%  19.7% 
  Fiscal YTD  $0.1428  $0.1076  —  —  $0.0352  75.4%  0.0%  0.0%  24.6% 
PMO  Current                   
(FYE 4/30)  month  $0.0350  $0.0293  —  —  $0.0057  83.7%  0.0%  0.0%  16.3% 
  Fiscal YTD  $0.4200  $0.2946  —  —  $0.1254  70.1%  0.0%  0.0%  29.9% 

 

The table below provides information regarding distributions and total return performance for various periods.

Data as of 3/31/24         
  Annualized  Cumulative 
  5-year return  Current distribution  Fiscal YTD return  Fiscal YTD distribution 
Ticker  at NAV  rate at NAV*  at NAV  rate at NAV† 
PMM (FYE 10/31)  1.74%  4.22%  19.71%  4.22% 
PMO (FYE 4/30)  2.07%  3.66%  6.45%  3.66% 

 

Performance includes the deduction of management fees and administrative expenses, assumes reinvestment of distributions, and does not account for taxes.

* Most recent distribution annualized and divided by NAV at the end of the period.

† Total fiscal period distributions annualized and divided by NAV at the end of the period.

You should not draw any conclusions about the Fund’s investment performance from the amount of this distribution or from the terms of the Fund’s Distribution Policy.

The Fund estimates that it has distributed more than its income and net realized capital gains; therefore, a portion of your distribution may be a return of capital. A return of capital may occur, for example, when some or all of the money that you invested in the Fund is paid back to you. A return of capital distribution does not necessarily reflect the Fund’s investment performance and should not be confused with “yield” or “income.”

The amounts and sources of distributions reported in this 19(a) Notice are only estimates and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend on the Fund’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes.

Please call your financial advisor with any questions.

Putnam Investments is a Franklin Templeton company.

SU006_BW 336740 4/24 

 


Sources of fund distributions

19(a) Notice

The table below provides an estimate of the sources of the Fund’s current distribution and its cumulative distributions paid this fiscal year to date. Amounts are expressed on a per share of common stock basis and as a percentage of the distribution amount.

        Estimated sources and percentages of distributions 
        Short-  Long-      Short-  Long-   
    Per share  Net  term  term    Net  term  term   
    distribution  investment  capital  capital  Return of  investment  capital  capital  Return of 
Ticker  Time period  (May)  income  gains  gains  capital  income  gains  gains  capital 
PMM  Current                   
(FYE 10/31)  month  $0.0238  $0.0181  —  —  $0.0057  76.1%  0.0%  0.0%  23.9% 
  Fiscal YTD  $0.1666  $0.1257  —  —  $0.0409  75.5%  0.0%  0.0%  24.5% 
PMO  Current                   
(FYE 4/30)  month  $0.0350  $0.0260  —  —  $0.0090  74.3%  0.0%  0.0%  25.7% 
  Fiscal YTD  $0.0350  $0.0260  —  —  $0.0090  74.3%  0.0%  0.0%  25.7% 

 

The table below provides information regarding distributions and total return performance for various periods.

Data as of 4/30/24         
  Annualized  Cumulative 
  5-year return  Current distribution  Fiscal YTD return  Fiscal YTD distribution 
Ticker  at NAV  rate at NAV*  at NAV  rate at NAV† 
PMM (FYE 10/31)  1.22%  4.33%  17.11%  4.33% 
PMO (FYE 4/30)  1.48%  3.76%  3.90%  3.76% 

 

Performance includes the deduction of management fees and administrative expenses, assumes reinvestment of distributions, and does not account for taxes.

* Most recent distribution annualized and divided by NAV at the end of the period.

† Total fiscal period distributions annualized and divided by NAV at the end of the period.

You should not draw any conclusions about the Fund’s investment performance from the amount of this distribution or from the terms of the Fund’s Distribution Policy.

The Fund estimates that it has distributed more than its income and net realized capital gains; therefore, a portion of your distribution may be a return of capital. A return of capital may occur, for example, when some or all of the money that you invested in the Fund is paid back to you. A return of capital distribution does not necessarily reflect the Fund’s investment performance and should not be confused with “yield” or “income.”

The amounts and sources of distributions reported in this 19(a) Notice are only estimates and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend on the Fund’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes.

Please call your financial advisor with any questions.

Putnam Investments is a Franklin Templeton company.

US-PUTNAM-2887561-2787561 
SU006-BW-0524 

 


Sources of fund distributions

19(a) Notice

The table below provides an estimate of the sources of the Fund’s current distribution and its cumulative distributions paid this fiscal year-to-date. Amounts are expressed on a per share of common stock basis and as a percentage of the distribution amount.

        Estimated sources and percentages of distributions 
        Short-  Long-      Short-  Long-   
    Per share  Net  term  term    Net  term  term   
    distribution  investment  capital  capital  Return of  investment  capital  capital  Return of 
Ticker  Time period  (June)  income  gains  gains  capital  income  gains  gains  capital 
PMM  Current                   
(FYE 10/31)  month  $0.0238  $0.0172  —  —  $0.0066  72.3%  0.0%  0.0%  27.7% 
  Fiscal YTD  $0.1904  $0.1429  —  —  $0.0475  75.1%  0.0%  0.0%  24.9% 
PMO  Current                   
(FYE 4/30)  month  $0.0350  $0.0254  —  —  $0.0096  72.6%  0.0%  0.0%  27.4% 
  Fiscal YTD  $0.0700  $0.0514  —  —  $0.0186  73.4%  0.0%  0.0%  26.6% 

 

The table below provides information regarding distributions and total return performance for various periods.

Data as of 5/31/24         
  Annualized  Cumulative 
  5-year return  Current distribution  Fiscal YTD return  Fiscal YTD distribution 
Ticker  at NAV  rate at NAV*  at NAV  rate at NAV† 
PMM (FYE 10/31)  0.94%  4.32%  17.89%  4.32% 
PMO (FYE 4/30)  1.09%  3.76%  0.22%  3.76% 

 

Performance includes the deduction of management fees and administrative expenses, assumes reinvestment of distributions, and does not account for taxes.

* Most recent distribution annualized and divided by NAV at the end of the period.

† Total fiscal period distributions annualized and divided by NAV at the end of the period.

You should not draw any conclusions about the Fund’s investment performance from the amount of this distribution or from the terms of the Fund’s Distribution Policy.

The Fund estimates that it has distributed more than its income and net realized capital gains; therefore, a portion of your distribution may be a return of capital. A return of capital may occur, for example, when some or all of the money that you invested in the Fund is paid back to you. A return of capital distribution does not necessarily reflect the Fund’s investment performance and should not be confused with “yield” or “income.”

The amounts and sources of distributions reported in this 19(a) Notice are only estimates and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend on the Fund’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes.

Please call your financial advisor with any questions.

Putnam Investments is a Franklin Templeton company.

US-PUTNAM-2887561-2787561 
SU006-BW-0624