- You will receive from the Fund each year an amount equal to at least 6% of the average trailing twelve-month market price of our stock, which will be calculated using the NYSE month-end market price for the twelve months ended October 31.
- Distributions will be made in four installments using the same payout schedule that we have used for many years – three interim quarterly distributions of earned investment income and a year-end distribution of net investment income and realized capital gains. Stockholders will continue to have the option to receive the year-end distribution in either cash or additional shares of stock.
- We will distribute more than 6% in any year in which the combined amount of net investment income and realized capital gains generated by the Fund is greater than 6%.
- In any year in which the combined amount of net investment income and realized capital gains generated by the Fund is less than 6%, distributions may include a return of capital.
- Our commitment provides a more predictable level of cash distribution coupled with the opportunity for capital appreciation.
Read the recent article, “6 closed-end funds yielding up to 6%”.
For more details on the annual minimum 6% distribution rate, please click here to read the press release that we issued on September 8, 2011.