The High Yield Plus Fund, Inc. Final Dividend
May 28 2009 - 9:22AM
Business Wire
The Board of Directors of the High Yield Plus Fund, Inc. (NYSE:
HYP)(the �Fund�), approved a final dividend of $0.033 per share, to
be payable on June 10, 2009 in cash. Stockholders participating in
the Fund�s Dividend Reinvestment Plan (the �Plan�) will have their
dividend reinvested in shares of the Fund in accordance with the
provisions of the Plan. This dividend is payable to stockholders of
record on June 4, 2009; the ex-dividend date with respect to such
dividend will be June 2, 2009. This final dividend is being
declared in connection with the reorganization of the Fund into the
Dryden High Yield Fund, Inc., which is expected to occur as of the
close of business on the New York Stock Exchange on Friday, June
19, 2009, subject to customary closing conditions.
The High Yield Plus Fund, Inc. is a diversified, closed-end
management investment company with a primary objective to provide a
high level of current income. The Fund seeks to achieve this
objective through investment of at least 80% of its investable
assets in publicly or privately offered high yield debt securities
rated in the medium to lower categories by recognized rating
services or non-rated securities of comparable quality. As a
secondary investment objective, the Fund will seek capital
appreciation, but only when consistent with its primary objective.
The Fund�s investment adviser is Wellington Management Company,
LLP, an independent investment management firm. Additional
information on the Fund is contained in the Fund�s semi-annual
report to stockholders for the six months ended September 30,
2008. For further information, call toll free at
800-451-6788.
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