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 distribution of $0.26475 per common share as part of its managed distribution plan. Distribution details include a total cash payout of $316,575.96 and issuance of 258,795 shares. Approximately 44.14% of shareholders elected to receive shares instead of cash. The distribution's primary intent is to provide stockholders with a minimum 15% annual return based on net asset value. However, due to current investment income levels, future distributions may include returns of capital, impacting the fund's overall assets.
The Herzfeld Caribbean Basin Fund (NASDAQ: CUBA) announced a quarterly distribution to be paid on March 31, 2022, comprising cash and stock. The total distribution is set at $0.26475 per share, with approximately 80% payable in stock and 20% in cash, depending on shareholder elections. The Fund aims to strengthen its balance sheet with this distribution model. However, it foresees that future distributions may include returns of capital, potentially affecting total assets and increasing expense ratios. Shareholders need to submit election forms by March 17, 2022, for their distribution preferences.
The Herzfeld Caribbean Basin Fund, Inc. (NASDAQ: CUBA) announced a managed distribution of $0.26475 per share on December 31, 2021. Cash distributions totaled $304,043.88, with 230,225 shares issued. Shareholders could choose between cash and stock, with 40.85% opting for shares only. The fund's plan aims to provide a quarterly distribution rate of 15% of net asset value, potentially including returns of capital if investment income is insufficient. The annualized distribution rate as of November 30, 2021, was 17.16%. Distributions are subject to change at the board's discretion.
The Herzfeld Caribbean Basin Fund (NASDAQ: CUBA) has concluded its tender offer to buy back 5% of its outstanding shares at 97.5% of net asset value (NAV). As of November 8, 2021, 2,261,361.322 shares were tendered, exceeding the offer amount. The Fund will purchase 302,216 shares at a price of $6.9810 per share, reflecting a pro rata buyback rate of 13.3642%. Payments for accepted shares will be processed promptly, while unpurchased shares will be returned to tendering shareholders.
The Herzfeld Caribbean Basin Fund (NASDAQ: CUBA) has revised its managed distribution policy for the upcoming distribution on December 31, 2021. Stockholders can choose to receive their distribution in cash or common stock, with 20% of cash distributed and 80% in stock. The Fund anticipates that future distributions will exceed its investment income and may include returns of capital, which could affect total assets and expense ratios. The Fund reported no net investment income, capital gains, or changes in NAV for the fiscal year to date, emphasizing a focus on maintaining a fixed distribution rate of 15% annually.
The Herzfeld Caribbean Basin Fund (NASDAQ: CUBA) announced a Tender Offer to purchase up to 5% of its outstanding shares at 97.5% of Net Asset Value (NAV). The offer, effective until November 8, 2021, follows a prior announcement made on October 4, 2021. Shareholders are encouraged to review the Offer to Purchase and related documents available through the SEC and the Fund's website. The Tender Offer aims to enhance shareholder value amidst market fluctuations.
Thomas J. Herzfeld Advisors, Inc. has announced a Tender Offer by The Herzfeld Caribbean Basin Fund (CUBA), set to commence on October 12, 2021. This action aligns with the Fund’s strategy to mitigate its trading price discount relative to its net asset value (NAV), initially outlined in a plan from May 31, 2019. The Fund plans to buy back up to 5% of its outstanding shares at 97.5% of NAV, contingent on the prior year's average discount exceeding 10%. Detailed terms will be provided shortly.
The Herzfeld Caribbean Basin Fund, Inc. (NASDAQ: CUBA) has announced a cash and stock distribution of $0.26475 per share, as part of its managed distribution plan. Declared on August 20, 2021, cash payments represented 20% of the total distribution, while 80% was paid in shares. The distribution is expected to maintain a constant, but not guaranteed, annual rate of 15% based on net asset value. Following the distribution, approximately 6,044,310 shares will remain outstanding. The Fund may need to return capital to maintain its distribution levels, which could decrease total assets and increase expense ratios.
The Herzfeld Caribbean Basin Fund (NASDAQ: CUBA) announced changes to its managed distribution policy, set to pay a distribution of $0.26475 per share on September 30, 2021. The distribution will be provided in both cash and stock, with stockholders limited to 20% cash. Additionally, the Self-Tender Policy has been modified to extend the expected tender offer date to no later than October 31, 2021. The Fund aims to strengthen its balance sheet and capitalizes on investment opportunities through this approach.
The Herzfeld Caribbean Basin Fund, NASDAQ: CUBA, announced a distribution of $0.15525 per share as part of its managed distribution plan on June 30, 2021. This quarterly payment aligns with an annual rate of 15% based on the Fund's net asset value from March 31, 2020. The Fund intends to distribute all available investment income, but warns that it may also return capital to maintain distribution levels if investment income is insufficient. Distributions are subject to change based on the Board's discretion and may affect the Fund's market price.
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