Neuberger Berman High Yield Strategies Fund Inc. Announces Monthly Distribution
August 09 2010 - 6:16PM
Business Wire
Neuberger Berman High Yield Strategies Fund Inc. (NYSEAmex: NHS)
(the “Fund”) announced a distribution declaration of $0.11 per
share of common stock that is payable on August 31, 2010, has a
record date of August 16, 2010 and an ex-date of August 12,
2010.
The Fund was formed as the result of the reorganization of
Neuberger Berman Income Opportunity Fund Inc. and Neuberger Berman
High Yield Strategies Fund, which was effective after the close of
business on August 6, 2010. The Fund intends to make regular
monthly cash distributions to its common stockholders at a fixed
rate per share based on its projected performance, subject to
adjustment from time to time (“Level-Rate Distribution
Policy”).
Under its Level Rate Distribution Policy, the Fund anticipates
that it will make regular monthly distributions, subject to market
conditions, of $0.11 per share, unless further action is taken to
determine another amount. There is no assurance that the Fund will
always be able to pay a distribution of any particular size, or
that a distribution will consist of only net investment income. The
Fund’s ability to maintain its current distribution rate will
depend on a number of factors, including the stability of income
received from its investments, availability of capital gains, the
cost of leverage and the level of other Fund expenses.
The distribution announced today, as well as future
distributions, may consist of net investment income, realized
capital gains and return of capital. In compliance with Section 19
of the Investment Company Act of 1940, as amended, a notice will be
provided for any distribution that does not consist solely of net
investment income. Any notice so provided would be for
informational purposes, and would disclose, among other things,
estimated portions of the distribution consisting of net investment
income, capital gains and/or return of capital.
Neuberger Berman Group LLC is one of the world’s leading
independent, employee-controlled asset management companies. As of
June 30, 2010, assets under management were approximately $169
billion. Established in 1939, Neuberger Berman is a leader in a
broad range of global investment solutions – equity, fixed income,
and alternatives – to institutions and individuals through
customized separately managed accounts, mutual funds and
alternative investment products. For more information please visit
our website at www.nb.com.
Statements made in this release that look forward in time
involve risks and uncertainties and are forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995. Such risks and uncertainties include, without limitation,
the adverse effect from a decline in the securities markets or a
decline in the Fund’s performance, a general downturn in the
economy, competition from other closed-end investment companies,
changes in government policy or regulation, inability of the Fund’s
investment adviser to attract or retain key employees, inability of
the Fund to implement its investment strategy, inability of the
Fund to manage rapid expansion and unforeseen costs and other
effects related to legal proceedings or investigations of
governmental and self-regulatory organizations.
Neuberger Berman High Yi... (AMEX:NHS)
Historical Stock Chart
From Jun 2024 to Jul 2024
Neuberger Berman High Yi... (AMEX:NHS)
Historical Stock Chart
From Jul 2023 to Jul 2024
