Bexil Investment Trust Declares March 2025 Quarterly Distribution
Bexil Investment Trust (OTC PINK:BXSY) has declared a quarterly distribution of $0.25 per share, payable March 27, 2025, to shareholders of record as of March 17, 2025. Based on current estimates, the distribution composition is approximately 100% from capital gains, with 0% from net investment income and return of capital.
The Fund maintains a distribution policy aimed at providing shareholders with stable cash flow per share. However, the Fund notes that distribution sources are estimates based on book earnings and may change. The actual amounts for tax reporting will depend on the Fund's fiscal year investment performance and tax regulations. Shareholders will receive Form 1099-DIV for tax reporting purposes.
The Fund acknowledges that this distribution policy does not guarantee reduction or elimination of any market price discount to NAV, and trustees have no fiduciary duty regarding such discounts.
Bexil Investment Trust (OTC PINK:BXSY) ha dichiarato una distribuzione trimestrale di $0,25 per azione, pagabile il 27 marzo 2025, agli azionisti registrati al 17 marzo 2025. Sulla base delle stime attuali, la composizione della distribuzione è approssimativamente 100% da guadagni in conto capitale, con 0% da reddito da investimenti netti e restituzione di capitale.
Il Fondo mantiene una politica di distribuzione volta a fornire agli azionisti un flusso di cassa stabile per azione. Tuttavia, il Fondo osserva che le fonti di distribuzione sono stime basate sugli utili contabili e possono variare. Gli importi effettivi per la dichiarazione fiscale dipenderanno dalla performance degli investimenti del Fondo nell'anno fiscale e dalle normative fiscali. Gli azionisti riceveranno il Modulo 1099-DIV per fini di dichiarazione fiscale.
Il Fondo riconosce che questa politica di distribuzione non garantisce la riduzione o l'eliminazione di eventuali sconti sul prezzo di mercato rispetto al NAV, e i fiduciari non hanno alcun dovere fiduciario riguardo a tali sconti.
Bexil Investment Trust (OTC PINK:BXSY) ha declarado una distribución trimestral de $0.25 por acción, pagadera el 27 de marzo de 2025, a los accionistas registrados a partir del 17 de marzo de 2025. Según las estimaciones actuales, la composición de la distribución es aproximadamente 100% de ganancias de capital, con 0% de ingresos netos por inversiones y devolución de capital.
El Fondo mantiene una política de distribución destinada a proporcionar a los accionistas un flujo de efectivo estable por acción. Sin embargo, el Fondo señala que las fuentes de distribución son estimaciones basadas en ganancias contables y pueden cambiar. Los montos reales para la declaración de impuestos dependerán del rendimiento de inversión del Fondo durante el año fiscal y de las regulaciones fiscales. Los accionistas recibirán el Formulario 1099-DIV para fines de declaración de impuestos.
El Fondo reconoce que esta política de distribución no garantiza la reducción o eliminación de ningún descuento del precio de mercado respecto al NAV, y los fideicomisarios no tienen deber fiduciario respecto a tales descuentos.
Bexil Investment Trust (OTC PINK:BXSY)는 주당 $0.25의 분기 배당금을 선언하였으며, 2025년 3월 27일에 2025년 3월 17일 기준 주주에게 지급됩니다. 현재 추정에 따르면, 배당금 구성은 약 100% 자본 이익에서 발생하며, 순 투자 소득 및 자본 반환은 0%입니다.
펀드는 주주에게 주당 안정적인 현금 흐름을 제공하기 위한 배당 정책을 유지하고 있습니다. 그러나 펀드는 배당 출처가 회계 수익에 기반한 추정치이며 변경될 수 있음을 지적합니다. 세금 보고를 위한 실제 금액은 펀드의 회계 연도 투자 성과 및 세금 규정에 따라 달라질 것입니다. 주주들은 세금 보고를 위해 1099-DIV 양식을 받을 것입니다.
펀드는 이 배당 정책이 NAV에 대한 시장 가격 할인 감소 또는 제거를 보장하지 않으며, 수탁자는 이러한 할인에 대한 신탁 의무가 없음을 인정합니다.
Bexil Investment Trust (OTC PINK:BXSY) a déclaré une distribution trimestrielle de 0,25 $ par action, payable le 27 mars 2025, aux actionnaires inscrits au 17 mars 2025. Selon les estimations actuelles, la composition de la distribution est d'environ 100 % provenant de gains en capital, avec 0 % provenant de revenus nets d'investissement et de retour de capital.
Le Fonds maintient une politique de distribution visant à fournir aux actionnaires un flux de trésorerie stable par action. Cependant, le Fonds note que les sources de distribution sont des estimations basées sur les bénéfices comptables et peuvent changer. Les montants réels pour la déclaration fiscale dépendront de la performance d'investissement du Fonds au cours de l'année fiscale et des réglementations fiscales. Les actionnaires recevront le formulaire 1099-DIV à des fins de déclaration fiscale.
Le Fonds reconnaît que cette politique de distribution ne garantit pas la réduction ou l'élimination de tout escompte du prix du marché par rapport à la valeur nette d'inventaire (NAV), et que les fiduciaires n'ont aucun devoir fiduciaire concernant de tels escomptes.
Bexil Investment Trust (OTC PINK:BXSY) hat eine vierteljährliche Ausschüttung von $0,25 pro Aktie erklärt, die am 27. März 2025 an die Aktionäre ausgezahlt wird, die am 17. März 2025 im Aktienregister stehen. Basierend auf aktuellen Schätzungen setzt sich die Ausschüttung ungefähr aus 100% aus Kapitalgewinnen zusammen, mit 0% aus Nettoanlageerträgen und Kapitalrückzahlungen.
Der Fonds verfolgt eine Ausschüttungspolitik, die darauf abzielt, den Aktionären einen stabilen Cashflow pro Aktie zu bieten. Der Fonds weist jedoch darauf hin, dass die Ausschüttungsquellen Schätzungen auf Basis von Buchgewinnen sind und sich ändern können. Die tatsächlichen Beträge für die Steuerberichterstattung hängen von der Anlageleistung des Fonds im Geschäftsjahr und den Steuervorschriften ab. Die Aktionäre erhalten das Formular 1099-DIV für steuerliche Zwecke.
Der Fonds erkennt an, dass diese Ausschüttungspolitik keine Reduzierung oder Beseitigung eines Marktpreisabschlags zum NAV garantiert und die Treuhänder keine treuhänderische Pflicht in Bezug auf solche Abschläge haben.
- Maintaining consistent quarterly dividend distribution of $0.25 per share
- 100% of distribution sourced from capital gains, indicating investment profits
- No guarantee of reducing market price discount to NAV
- Distribution sources may change based on final fiscal year results
Insights
Bexil Investment Trust's quarterly distribution announcement of
The distribution maintains the fund's stated policy of providing shareholders with stable cash flow, but investors should carefully consider several key points in this announcement. First, the 100% capital gains sourcing has different tax implications than distributions from income. Second, the fund explicitly states that the composition estimates are preliminary and subject to change by year-end, adding some uncertainty to tax planning.
Perhaps most revealing is the fund's unusually direct statement that trustees have "no fiduciary duty" to address any discount between market price and NAV. This language suggests potential tension regarding the fund's trading price relative to its underlying asset value, a common issue with closed-end investment vehicles. The statement that the distribution policy could be "amended, suspended, or terminated at any time without prior notice" adds another layer of consideration for income-dependent investors.
While the maintenance of the distribution is positive, the capital gains sourcing raises questions about sustainability if market conditions change. Without comparative historical distribution data or performance metrics, this announcement represents continuity rather than a significant positive or negative development for shareholders.
Notification of Sources of Distribution
Statement Pursuant to Section 19(a) of the Investment Company Act of 1940
ROCHESTER, NY / ACCESS Newswire / March 3, 2025 / A quarterly distribution of
Under U.S. tax rules applicable to the Fund, the amount and character of distributable income for each tax year can be finally determined only as of the end of the Fund's tax year. However, under Section 19 of the Investment Company Act of 1940, as amended ("1940 Act"), and related rules, the Fund may be required to indicate to shareholders the source of certain distributions to shareholders. The information provided herein does not represent information for tax reporting purposes. Earnings and profits on a tax basis may differ.
This notice discloses information on the sources of the distribution as required by Section 19(a) of the 1940 Act. As of March 3, 2025, and based on the Fund's results and estimates for the current quarter, the current distribution of
Shareholders should not draw any conclusions about the Fund's investment performance from the amount of this distribution or from the terms of the Fund's distribution policy.
Distributions may be paid from net investment income, net realized capital gains, or return of capital, or a combination thereof.To the extent that the Fund has estimated that it has distributed more than such income and gains, the distribution may be a return of capital. A return of capital may occur, for example, when money invested in the Fund is paid back to shareholders. A return of capital distribution does not necessarily reflect the Fund's investment performance and should not be confused with "yield" or "income." Additionally, a return of capital is not taxable; rather it reduces the tax basis of the shareholder's Fund shares,thereby increasing the potential gain or reducing potential loss on the shareholder's subsequent sale of those shares.
The amounts and sources of distributions reported in this 19(a) Notice are only estimates based on book earnings, are likely to change over time and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon the Fund's investment experience during the entirety of its fiscal year and may be subject to changes based on tax regulations.
THE FUND INTENDS TO SEND SHAREHOLDERS A FORM 1099-DIV FOR THE CALENDAR YEAR THAT WILL INSTRUCT HOW TO REPORT THESE DISTRIBUTIONS FOR FEDERAL INCOME TAX PURPOSES.
This quarterly distribution reflects the Fund's current distribution policy to provide shareholders with a relatively stable cash flow per share. There is no guarantee that the Fund's current distribution policy will reduce or eliminate the Fund's market price discount to its net asset value ("NAV") per share, if any, and the Fund's trustees have no fiduciary duty to take action, or to consider taking any action, to narrow any such discount. The distribution policy may be amended, suspended, or terminated at any time without prior notice.
About the Fund
The Fund is a closed end fund with the primary investment objective of seeking high current income. Capital appreciation is a secondary objective. The Fund seeks to achieve its objectives by investing, under normal circumstances, at least
Shares of closed end funds frequently trade at a discount from their NAV. This characteristic is a risk separate and distinct from the risk that the Fund's NAV has decreased in the past, and may decrease in the future, as a result of its investment activities and other events. Neither the Investment Manager nor the Fund can predict whether shares of the Fund will trade at, below, or above NAV. The risk of holding shares of the Fund that might trade at a discount is more pronounced for investors expecting to sell their shares in a relatively short period of time after acquiring them because, for those investors, realization of a gain or loss on their investments is likely to be more dependent upon the existence of a premium or discount than upon portfolio performance. The shares of the Fund are designed primarily for long term investors and should not be considered a vehicle for trading purposes. The NAV of the Fund's shares typically will fluctuate with price changes of the Fund's portfolio securities, and these fluctuations are likely to be greater in the case of a fund which uses leverage, as the Fund may from time to time. In the event that shares of the Fund trade at a premium to NAV, there is no assurance that any such premium will be sustained for any period of time and will not decrease, or that the shares of the Fund will not trade at a discount to NAV thereafter. The market price for the Fund is based on supply and demand which fluctuates daily based on many factors, such as economic conditions and global events, investor sentiment, and security-specific factors.
There is no assurance that the Fund's investment objectives will be attained. Past performance is no guarantee of future results. You should consider the investment objectives, risks, charges and expenses of the Fund carefully before investing. The Fund's investment policies, management fees and other matters of interest to prospective investors may be found in its filings with the U.S. Securities and Exchange Commission ("SEC"), including its annual and semi-annual reports. To obtain a copy of the reports, please call us at 212-785-0900 or download them at www.BexilInvestmentTrust.com. Please read the reports carefully before investing.
To learn more about the Fund visit www.BexilInvestmentTrust.com. For Fund shareholder services, please call the Fund's transfer agent, Equiniti Trust Company, LLC, at 800-937-5449. Bexil Investment Trust is part of a fund complex which includes the Midas Funds and Foxby Corp.
This notice is provided for informational purposes only. This is not a prospectus, circular, or representation intended for use in the purchase of shares of the Fund or any securities mentioned in this notice. This notice shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, these securities in any state in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or an exemption therefrom.
Investment products, including shares of closed end funds, are not federally or FDIC insured, are not deposits or obligations of, or guaranteed by, any financial institution and involve investment risk, including possible loss of principal and fluctuation in value. Consult with your tax advisor or attorney regarding specific tax issues.
Cautionary Note Regarding Forward Looking Statements
Certain information presented in this release may contain "forward looking statements" within the meaning of the federal securities laws, including the Private Securities Litigation Reform Act of 1995. Forward looking statements include, but are not limited to, statements concerning the Fund's plans, objectives, goals, strategies, distributions and their amounts and timing, distribution declarations, future events, future performance, prospects of its portfolio holdings, or intentions, and other information that is not historical information. In some cases, forward looking statements can be identified by terminology such as "believes," "expects," "estimates," "may," "will," "should," "anticipates," "projects," "plans," or "intends," or the negative of such terms or other comparable terminology, or by discussions of strategy. All forward looking statements by the Fund involve known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Fund, which may cause the Fund's actual results to be materially different from those expressed or implied by such statements. These risks may include, but are not limited to, equity securities risk, corporate bonds risk, credit risk, interest rate risk, leverage and borrowing risk, additional risks of certain securities in which the Fund invests, market discount from NAV, distribution policy risk, management risk, and other risks discussed in the Fund's filings with the SEC. The Fund may also make additional forward looking statements from time to time. All such subsequent forward looking statements, whether written or oral, by the Fund or on its behalf, are also expressly qualified by these cautionary statements. Investors should carefully consider the risks, uncertainties, and other factors, together with all of the other information included in the Fund's filings with the SEC, and similar information. All forward looking statements apply only as of the date made. The Fund undertakes no obligation to publicly update or revise forward looking statements, whether as a result of new information, future events, or otherwise. Thus you should not place undue reliance on forward looking statements.
Contact:
Thomas O'Malley
Chief Financial Officer
1-212-785-0900
tomalley@performancedriven.us
www.BexilInvestmentTrust.com
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SOURCE: Bexil Investment Trust
View the original press release on ACCESS Newswire
FAQ
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