Dreyfus municipal fund calls $7.58 million auction-rate preferreds

By Toni Weeks

San Diego, Dec. 21 - Dreyfus Strategic Municipal Bond Fund, Inc. announced that it will redeem a portion of its auction-rate preferred shares in January, according to a filing with the Securities and Exchange Commission.

Each share has a liquidation preference of $25,000, and the redemption will total $7,575,000.

The redemption will be completed over three days, with 101 series A preferreds to be redeemed Jan. 18, 101 series B preferreds to be redeemed Jan. 20 and 101 series C preferreds to be redeemed Jan. 18.

Dreyfus is a New York-based investment firm.

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