BRW Announces $0.085 Dividend
Saba Capital Income & Opportunities Fund (NYSE: BRW) has declared a monthly dividend of $0.085 per share, payable on February 28, 2025, to shareholders of record as of February 11, 2025. The distribution is part of the Fund's Managed Distribution Plan, which aims to provide shareholders with a constant fixed minimum rate of distribution each month.
The Plan intends to narrow the discount between the market price and net asset value of the Fund's common shares. If sufficient investment income is not available monthly, the Fund will distribute long-term capital gains and/or return of capital to maintain its managed distribution rate. The Board of Trustees may amend or terminate the Plan at any time, which could affect the market price of common shares.
Il Saba Capital Income & Opportunities Fund (NYSE: BRW) ha dichiarato un dividendo mensile di $0.085 per azione, pagabile il 28 febbraio 2025, agli azionisti registrati al 11 febbraio 2025. La distribuzione fa parte del Piano di Distribuzione Gestita del Fondo, che mira a fornire agli azionisti un tasso fisso minimo di distribuzione costante ogni mese.
Il Piano intende ridurre lo sconto tra il prezzo di mercato e il valore patrimoniale netto delle azioni ordinarie del Fondo. Se non sono disponibili entrate da investimento sufficienti mensilmente, il Fondo distribuirà guadagni di capitale a lungo termine e/o restituirà capitale per mantenere il suo tasso di distribuzione gestito. Il Consiglio di Amministrazione può modificare o terminare il Piano in qualsiasi momento, il che potrebbe influenzare il prezzo di mercato delle azioni ordinarie.
El Saba Capital Income & Opportunities Fund (NYSE: BRW) ha declarado un dividendo mensual de $0.085 por acción, que se pagará el 28 de febrero de 2025 a los accionistas registrados hasta el 11 de febrero de 2025. La distribución es parte del Plan de Distribución Gestionada del Fondo, que tiene como objetivo proporcionar a los accionistas una tasa mínima fija constante de distribución cada mes.
El Plan tiene la intención de reducir el descuento entre el precio de mercado y el valor neto de los activos de las acciones comunes del Fondo. Si no hay suficientes ingresos de inversión disponibles mensualmente, el Fondo distribuirá ganancias de capital a largo plazo y/o devolverá capital para mantener su tasa de distribución gestionada. La Junta de Fideicomisarios puede modificar o terminar el Plan en cualquier momento, lo que podría afectar el precio de mercado de las acciones comunes.
사바 자본 소득 및 기회 펀드 (NYSE: BRW)는 주당 $0.085의 월 배당금을 선언했으며, 2025년 2월 28일, 2025년 2월 11일 기준의 주주에게 지급됩니다. 이 배당금은 펀드의 관리 배당 계획의 일환으로, 주주에게 매월 일정한 최소 배당률을 제공하기 위해 설계되었습니다.
이 계획은 펀드의 보통주 시장 가격과 순자산 가치 간의 할인률을 좁히는 것을 목표로 하고 있습니다. 매달 충분한 투자 수익이 제공되지 않을 경우, 펀드는 관리 배당률 유지를 위해 장기 자본 이익 및/또는 자본 반환을 분배할 것입니다. 신탁 이사회는 언제든지 계획을 수정하거나 종료할 수 있으며, 이로 인해 보통주의 시장 가격에 영향을 줄 수 있습니다.
Le Saba Capital Income & Opportunities Fund (NYSE: BRW) a déclaré un dividende mensuel de $0.085 par action, payable le 28 février 2025, aux actionnaires inscrits au 11 février 2025. La distribution fait partie du Plan de Distribution Géré du Fonds, qui vise à fournir aux actionnaires un taux de distribution fixe et constant chaque mois.
Le Plan a pour objectif de réduire l’écart entre le prix du marché et la valeur nette des actifs des actions ordinaires du Fonds. Si des revenus d'investissement suffisants ne sont pas disponibles chaque mois, le Fonds distribuera des gains en capital à long terme et/ou restituera du capital pour maintenir son taux de distribution géré. Le Conseil de fiducie peut modifier ou mettre fin au Plan à tout moment, ce qui pourrait affecter le prix de marché des actions ordinaires.
Der Saba Capital Income & Opportunities Fund (NYSE: BRW) hat eine monatliche Dividende von $0.085 pro Aktie erklärt, die am 28. Februar 2025 an die Aktionäre ausgezahlt wird, die am 11. Februar 2025 im Aktienregister stehen. Die Ausschüttung ist Teil des verwalteten Ausschüttungsplans des Fonds, der darauf abzielt, den Aktionären jeden Monat einen konstanten festen Mindestverteilungssatz bereitzustellen.
Der Plan beabsichtigt, den Discount zwischen dem Marktpreis und dem Nettoinventarwert der Stammaktien des Fonds zu verringern. Wenn nicht genügend Anlageerträge monatlich zur Verfügung stehen, wird der Fonds langfristige Kapitalgewinne und/oder Rückgaben von Kapital ausschütten, um seinen verwalteten Verteilungssatz aufrechtzuerhalten. Der Vorstand kann den Plan jederzeit ändern oder beenden, was den Marktpreis der Stammaktien beeinflussen könnte.
- Fixed monthly dividend of $0.085 per share provides steady income stream
- Managed Distribution Plan aims to reduce market price to NAV discount
- Distributions may include return of capital if investment income is insufficient
- No guarantee of distribution level sustainability
- Plan can be terminated or amended without prior notice
Managed Distribution Plan. The above distribution was declared in accordance with the Fund’s currently effective managed distribution plan (the “Plan”), whereby the Fund will make monthly distributions to shareholders at a fixed amount of
Under the Plan, to the extent that sufficient investment income is not available on a monthly basis, the Fund will distribute long-term capital gains and/or return of capital in order to maintain its managed distribution rate. As a result, long-term capital gains and/or return of capital may be a material source of any distribution. No conclusions should be drawn about the Fund’s investment performance from the amount of the Fund’s distributions or from the terms of the Fund’s Plan. The Board of Trustees (the “Board”) may amend the terms of the Plan or terminate the Plan at any time without prior notice to Fund shareholders. No level of distribution can be guaranteed. The amendment or termination of the Plan could have an adverse effect on the market price of the Fund’s common shares. The Plan is subject to the periodic review by the Board, including a yearly review of the annual minimum fixed rate to determine if an adjustment should be made.
In compliance with Rule 19a-1 of the Investment Company Act of 1940, shareholders will receive a notice that details the source of income for the above dividend, such as net investment income, gain from the sale of securities and return of principal; however, determination of the actual source of the foregoing dividend can only be made at year-end. The actual source amounts of all Fund dividends will be included in the Fund’s annual or semiannual reports. In addition, the tax treatment may differ from the accounting treatment used to calculate the source of the Fund’s dividends as shown on shareholders’ statements. Shareholders should refer to their Form 1099-DIV for the character and amount of distributions for income tax reporting purposes. Since each shareholder’s tax situation is unique, it may be advisable to consult a tax advisor as to the appropriate treatment of Fund distributions.
Past Performance is No Assurance of Future Results. Investment return and principal value of an investment in the Fund will fluctuate. Shares, when sold, may be worth more or less than their original cost. Investors should consider the investment objective, risks and expenses carefully. You can obtain the Fund’s most recent periodic reports and filings by visiting https://www.sec.gov/edgar/browse/?CIK=826020&owner=exclude.
Other Information and Certain Risk Factors: The Fund’s investment objective is to provide investors with a high level of current income, with a secondary goal of capital appreciation. There can be no assurance that the Fund will meet its investment objective. The Fund seeks to achieve this objective by investing globally in debt and equity securities of public and private companies, which includes, among other things, investments in closed‐end funds, special purpose acquisition companies (“SPACs”), reinsurance, and public and private debt instruments. The Fund also may utilize derivatives including but not limited to total return swaps, credit default swaps, options (including but not limited to index options) and futures, in seeking to enhance returns and/or to reduce portfolio risk. In addition, on an opportunistic basis, the Fund may also invest up to
The value of the Fund’s investments in equity securities of public and private, listed and unlisted companies and equity derivatives generally varies with the performance of the issuer and movements in the equity markets more generally. As a result, the Fund may suffer losses if it invests in equity instruments of issuers whose performance diverges from the Fund’s investment manager’s expectations or if equity markets generally move in a single direction and the Fund has not hedged against such a general move. The Fund may invest in closed-end funds and SPACs, which are subject to additional risks and considerations. The performance of reinsurance-related securities and the reinsurance industry itself are tied to the occurrence of various triggering events, including but not limited to weather, natural disasters (hurricanes, earthquakes, etc.), non-natural large catastrophes and other specified events causing physical and/or economic loss. To the extent the Fund invests in reinsurance-related securities for which a triggering event occurs, losses associated with such event could result in losses to the Fund’s investment, and a series of major triggering events affecting a large portion of the reinsurance- related securities held by the Fund could result in substantial losses to the Fund’s investment. The Fund may invest in high yield securities, which are speculative in nature and are subject to additional risk factors such as increased possibility of default, illiquidity of the security, and changes in value based on changes in interest rates. Changes in short-term market interest rates may directly affect the yield on the Fund’s common shares. If such rates fall, the Fund’s yield may also fall. If interest rate spreads on bonds and loans owned by the Fund decline in general, the yield on the bonds and loans will likely fall and the value of such bonds and loans may decrease. When short-term market interest rates rise, because of the lag between changes in such short-term rates and the resetting of the floating rates on bonds and loans in the Fund’s portfolio, the impact of rising rates will be delayed to the extent of such lag. Because of the limited secondary market for certain bonds and loans, the Fund’s ability to sell such securities in a timely fashion and/or at a favorable price may be limited. An increase in the demand for bonds and loans may adversely affect the rate of interest payable on new bonds and loans acquired by the Fund, and it may also increase the price of bonds and loans purchased by the Fund in the secondary market. A decrease in the demand for bonds and loans may adversely affect the price of bonds and loans in the Fund’s portfolio, which would cause the Fund’s net asset value to decrease. The Fund’s use of leverage, if any, through borrowings or issuance of preferred shares can adversely affect the yield on the Fund’s common shares. Investment in foreign borrowers involves special risks, including but not limited to potentially less rigorous accounting requirements, differing legal systems and potential political, social and economic adversity. The Fund may engage in currency exchange transactions to seek to hedge, as closely as practicable, all of the economic impact to the Fund arising from foreign currency fluctuations. Other risks include, but are not limited to, the use of derivatives, the potential lack of diversification in the Fund’s portfolio, and the fact that the Fund’s portfolio may be concentrated in a small group of industries or industry sectors from time to time. Investors should consult the Fund’s filings with the Securities and Exchange Commission as well as the materials on the Fund’s website for a more detailed discussion of these or other risk factors that affect the Fund.
About Saba Capital Income & Opportunities Fund. Saba Capital Income & Opportunities Fund is a publicly-traded registered closed-end management investment company. The Fund’s common shares trade on the New York Stock Exchange under the ticker symbol “BRW”. The Fund is managed by Saba Capital Management, L.P.
Forward-Looking Statements. This press release contains forward-looking statements subject to the inherent uncertainties in predicting future results and conditions. Any statements that are not statements of historical fact (including but not limited to statements containing the words “believes,” “plans,” “anticipates,” “expects,” “estimates” and similar expressions) should also be considered to be forward-looking statements. These statements are not guarantees of future performance, conditions or results and involve a number of risks and uncertainties. Certain factors could cause actual results and conditions to differ materially from those projected in these forward-looking statements. These factors, including but not limited to the “Certain Risk Factors” noted above, are identified from time to time in the Fund’s filings with the Securities and Exchange Commission as well as the materials on the Fund’s website. The Fund undertakes no obligation to update such statements to reflect subsequent events, except as may be required by law.
For further information on Saba Capital Income & Opportunities Fund, please visit our website at: www.sabacef.com.
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844-460-9411
Source: Saba Capital Income & Opportunities Fund
FAQ
When is BRW's next dividend payment date?
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Can BRW's distribution plan be changed or terminated?
