Pacholder High Yield Fund Announces Reduction and Payment of Monthly Distribution
2013年9月14日 - 5:01AM
ビジネスワイヤ(英語)
The Pacholder High Yield Fund, Inc. (NYSE MKT: PHF) declared a
distribution of $0.0575 per common share payable on September 30,
2013 to shareholders of record on September 26, 2013. The ex-date
for the dividend is September 24, 2013.
The Board of Directors has also authorized the Fund to decrease
the amount of monthly dividends from $0.065 per common share to
$0.0575 per common share beginning with the September dividend
described above. From April 2011 until January 2013, the Fund paid
a monthly dividend of $0.07 per common share. From February 2013
until August 2013, the Fund paid a monthly dividend of $0.065 per
common share. The Fund anticipates paying a monthly dividend of
$0.0575 per common share, subject to market conditions and the
requirement that the Fund maintains asset coverage of at least 200%
of the Auction Rate Preferred Shares (“ARPS”) after payment of
dividends. The amount of a monthly dividend, if any, may be more or
less than the actual income earned by the Fund in a given month and
the Board will continue to monitor the continuing appropriateness
of the dividend level in light of market conditions and income
earned by the Fund over time. In addition, during the last quarter
of the year, the Board will consider the amount of undistributed
net income remaining, if any, and may declare a special
dividend.
Updated information on the amount of undistributed net income
will continue to be included on the fact sheet available on the
Fund’s website at www.pacholder.com. In the event that market
conditions change such that the Fund would not meet its asset
coverage requirements and/or is not able to declare or pay a
dividend at the rate of $0.0575 per common share, shareholders will
be notified.
The Fund is a closed-end diversified management investment
company with a leveraged capital structure. The Fund’s investment
objective is to provide a high level of total return through
current income and capital appreciation. Under normal
circumstances, the Fund invests at least 80% of the value of its
assets in high yield securities. The Fund invests primarily in
fixed income securities of domestic companies. The Fund’s common
stock is traded on the New York Stock Exchange MKT under the symbol
“PHF.”
The information presented here is not intended as a
solicitation. New investors cannot purchase shares directly from
the Fund. Shares are listed on the New York Stock Exchange MKT, and
interested investors should contact their financial advisor or
broker-dealer for more information.
The Fund was organized as a corporation under the laws of
Maryland on August 17, 1988 and has registered with the SEC under
the Investment Company Act of 1940, as amended. The Fund's
principal office is located at 270 Park Avenue, New York, New York
10017. For more information visit us at www.pacholder.com, or call
1-877-217-9502.
The Fund's investment adviser is J.P. Morgan Investment
Management Inc., an investment management firm registered with the
SEC under the Investment Advisers Act of 1940.
Pacholder High Yield Fund, Inc.1-877-217-9502
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