Business & Finance
Wed, August 11, 2010Tue, August 10, 2010Mon, August 9, 2010Fri, August 6, 2010Managed High Yield Plus Fund Inc.—Dividend Declaration and Updated Price and Yield Information
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Published in Business and Finance on Monday, August 9th 2010 at 16:30 GMT by Market Wire🞛 This publication is a summary or evaluation of another publication
NEW YORK--([ BUSINESS WIRE ])--Managed High Yield Plus Fund Inc. (the "Fund") (NYSE: HYF), a closed-end management investment company, today announced that the Funda™s Board of Directors has declared a dividend from net investment income of $0.0200 per share. The amount of this dividend more closely reflects the Fund's current net investment income as well as a portion of the retained earnings that has accumulated in the Fund over a period of time. (There has been an accumulation of excess net investment income not yet paid out over the current fiscal year that is available to be distributed; this increased distribution may continue over the next several months if current conditions and portfolio investment experience continue.) Previously, the Fund had been paying a monthly dividend of $0.0195 per share.
The dividend is payable on August 31, 2010 to shareholders of record as of August 19, 2010. The ex-dividend date is August 17, 2010. Managed High Yield Plus Fund Inc. seeks high income and, secondarily, capital appreciation, primarily through investments in lower-rated, income producing debt and related equity securities.
Characteristics as of July 31, 2010*
| Net Asset Value per share | $2.14 | |||||||
| Market Price per share | $2.36 | |||||||
| NAV Yield | 11.21% | |||||||
| Market Yield | 10.17% |
* Net asset value (NAV), market price and yields will fluctuate. NAV yield is calculated by multiplying the current montha™s dividend by 12 and dividing by the month-end net asset value. Market yield is calculated by multiplying the current montha™s dividend by 12 and dividing by the month-end market price.