Welcome to our dedicated page for Herzfeld Caribbean Basin Fund news (Ticker: CUBA), a resource for investors and traders seeking the latest updates and insights on Herzfeld Caribbean Basin Fund stock.
Herzfeld Caribbean Basin Fund Inc. (NASDAQ: CUBA) is a closed-end management investment company dedicated to providing long-term capital appreciation to its investors. The Fund seeks to achieve this by investing in equity and equity-linked securities of public and private companies, with a particular focus on those based in the United States and the Caribbean Basin. The investment portfolio includes companies operating across various sectors, ensuring a diversified and balanced approach.
Managed by Thomas J. Herzfeld Advisors, Inc., a firm established in 1984 and known for its expertise in closed-end funds and Caribbean Basin investments, the Fund offers customized discretionary account management and fund management services to both individual and institutional investors. The Herzfeld/CUBA division within the advisor firm is specifically tasked with the oversight and strategic direction of the Fund.
The Fund's revenue is primarily generated through dividends received from its investments. The geographic allocation of the Fund's investments spans the United States, Puerto Rico, Mexico, and other Caribbean Basin countries, optimizing regional opportunities and risks.
Recent developments include the implementation of a quarterly distribution policy, allowing stockholders to receive their dividends in cash or additional shares of common stock. This policy aims to enhance the Fund's balance sheet and prepare for future investment opportunities. Important dates related to this policy, such as the expiration date of the Rights Offer and deadlines for election forms, are clearly communicated to stockholders to ensure transparency and informed decision-making.
The Fund's announcements often include updates on self-tender policies, dividend reinvestment plans, and management fee waivers, reflecting a proactive approach to maximizing stockholder value and adapting to market conditions. The Board of Directors regularly reviews the distribution policy to ensure it aligns with the best interests of the Fund and its stockholders, with the flexibility to amend, suspend, or terminate the policy as needed.
Herzfeld Caribbean Basin Fund Inc. emphasizes transparency and compliance with regulatory standards, providing detailed information on the composition of distributions and expected tax implications. Stockholders are encouraged to consult their tax advisors for appropriate tax treatment of distributions.
Investors considering the Fund should be aware of risks including market volatility, political and economic changes in the Caribbean Basin, and other factors that may impact the Fund's performance. The Fund's shares may trade at a discount from their net asset value, and investments are subject to market risks. Prospective investors are advised to thoroughly review the Fund's disclosure documents and consult with financial advisors before making investment decisions.
The Herzfeld Caribbean Basin Fund (NASDAQ: CUBA) announced a cash and stock distribution of $0.173625 per share for stockholders, payable on March 31, 2023. Shareholders could choose to receive their distribution in cash (approximately 34.46%) or stock (about 65.54%), with 41.93% opting for stock. The total cash distributed reached $231,216.84, while 250,014 shares were issued. This managed distribution plan aims to provide a fixed rate of quarterly distributions, currently set at an annual rate of 15% of the Fund's net asset value as of June 30, 2022. The fund also noted that future distributions may include returns of capital, which could affect total assets.
The Herzfeld Caribbean Basin Fund (NASDAQ: CUBA) announced a quarterly distribution on February 3, 2023, with a payment of $0.173625 per share scheduled for March 31, 2023. Shareholders can choose to receive their distributions in cash or stock, with 80% expected to be in stock and a cash limit of 20%. The distribution includes return of capital, as the Fund anticipates future distributions to exceed investment income and capital gains. The policy aims for quarterly distributions equivalent to 15% of the Fund’s net asset value. The Fund's performance shows a 5-year annual total return of -0.27% and a distribution rate of 13.81% as of January 31, 2023.
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