Franklin Michigan Tax-Free Income Fund Class C (FRMTX)

Fund Assets	654.55M
Expense Ratio	1.22%
Min. Investment	$1,000
Turnover	12.42%
Dividend (ttm)	0.28
Dividend Yield	2.65%
Dividend Growth	3.86%
Payout Frequency	Monthly
Ex-Dividend Date	Jan 30, 2026

Previous Close	10.67
YTD Return	0.80%
1-Year Return	3.82%
5-Year Return	-2.01%
52-Week Low	9.90
52-Week High	10.68
Beta (5Y)	0.29
Holdings	228
Inception Date	May 1, 1995

About FRMTX

Franklin Michigan Tax-Free Income Fund Class C is a municipal bond mutual fund focused on delivering a high level of income that is exempt from both federal income taxes and Michigan state personal income taxes. The fund primarily invests in a diversified portfolio of municipal securities issued by Michigan state and local governments, using at least 80% of its assets for this purpose. By concentrating on Michigan municipal bonds, the fund supports essential public projects within the state, such as infrastructure and community development. It appeals to investors seeking tax-advantaged income, particularly Michigan residents, and is structured to provide capital preservation alongside modest income potential. With a monthly dividend payout, the fund plays a specialized role in the market as a single-state muni fund, offering targeted exposure to Michigan's municipal debt sector and serving as a tool for managing tax efficiency in fixed income portfolios. Established in 1995, it is managed by Franklin Templeton, a firm recognized for its focus on municipal bond strategies.

• Fund Family: Franklin Templeton Investments
• Category: Muni Single State Long
• Performance Rating: Below Average
• Risk Rating: Below Average
• Stock Exchange: NASDAQ
• Ticker Symbol: FRMTX
• Share Class: Class C
• Index: Bloomberg Municipal Bond TR

Performance

FRMTX had a total return of 3.82% in the past year, including dividends. Since the fund's inception, the average annual return has been 6.72%.

Equivalent Funds

These are funds that follow the same index from the other major fund companies.

Symbol	Provider	Name	Expense Ratio
FSAZX	Fidelity	Fidelity Arizona Municipal Income Fund	0.55%
FICNX	Fidelity	Fidelity Connecticut Municipal Income Fund	0.46%
FMHTX	Fidelity	Fidelity Michigan Municipal Income Fund	0.46%

Other Share Classes

These are alternative share classes of the same fund, from the same provider.

Symbol	Share Class	Expense Ratio
FKTNX	Class R6	0.55%
FMTFX	Advisor Class	0.58%
FTTMX	Class A1	0.68%
FMQTX	Class A	0.83%

Dividend History

Ex-Dividend	Amount	Pay Date
Jan 30, 2026	$0.02462	Jan 30, 2026
Dec 31, 2025	$0.02554	Dec 31, 2025
Nov 28, 2025	$0.02208	Nov 28, 2025
Oct 31, 2025	$0.02558	Oct 31, 2025
Sep 30, 2025	$0.02291	Sep 30, 2025
Aug 29, 2025	$0.02489	Aug 29, 2025