BNY Mellon Alcentra Global Credit Income 2024 Target Term Fund, Inc. Declares Monthly Distribution

Rhea-AI Summary

BNY Mellon Alcentra Global Credit Income 2024 Target Term Fund, Inc. (NYSE: DCF) has declared a distribution of $0.035 per share of common stock, payable on February 23, 2024, to shareholders of record at the close of business on February 8, 2024. The ex-dividend date is February 7, 2024. The Fund intends to pay most, but likely not all, of its net income to common shareholders in monthly income dividends. BNY Mellon Investment Adviser, Inc., the investment adviser for the Fund, is part of BNY Mellon Investment Management, which has $2.0 trillion in assets under management as of December 31, 2023. The Fund's investment returns and principal values will fluctuate, and there is no assurance that the Fund will achieve its investment objective.

Positive

• The Fund has declared a distribution of $0.035 per share of common stock, payable on February 23, 2024
• BNY Mellon Investment Management has $2.0 trillion in assets under management as of December 31, 2023

Negative

• The Fund's investment returns and principal values will fluctuate, and there is no assurance that the Fund will achieve its investment objective.

Insights

Financial Analyst

The declaration of a monthly income dividend by BNY Mellon Alcentra Global Credit Income 2024 Target Term Fund, Inc. (DCF) is indicative of the fund's operational strategy to provide regular income to its shareholders. The consistency of the dividend amount, maintained at $0.035 per share, suggests a stable cash flow generation from the fund's underlying investments. However, investors should be aware that the distribution rate and policy are subject to change based on portfolio and market conditions, which could impact the predictability of future income.

From a market perspective, the fund's performance and the stability of its dividends can influence its share price, especially if it trades at a premium or discount to its net asset value (NAV). The dynamics of closed-end funds, which are traded on the secondary market, are such that investors might seek to capitalize on discrepancies between share price and NAV. Therefore, monitoring the fund's investment returns and the principal values is crucial for assessing its market position and potential investment risks.

Market Research Analyst

BNY Mellon Investment Management's position as one of the world's largest asset managers, with $2.0 trillion in assets under management and BNY Mellon's broader scale, with $47.8 trillion under custody and/or administration, reflect the firm's substantial influence in the global financial markets. This scale can afford the firm economies of scale and a broad diversification of investment products, likely contributing to the resilience and performance of funds such as DCF.

For stakeholders and potential investors, BNY Mellon's historical legacy as America's oldest bank and its current market presence provide a level of prestige and perceived stability. However, it's essential to conduct a thorough analysis of the fund's portfolio, investment strategy and market conditions to gauge its alignment with one's investment objectives and risk tolerance.

NEW YORK--(BUSINESS WIRE)-- BNY Mellon Alcentra Global Credit Income 2024 Target Term Fund, Inc. (NYSE: DCF) declared a distribution of $0.035 per share of common stock, payable on February 23, 2024, to shareholders of record at the close of business on February 8, 2024. The ex-dividend date is February 7, 2024. The previous distribution declared in December was $0.035 per share of common stock.

The Fund intends to pay most, but likely not all, of its net income to common shareholders in monthly income dividends. As portfolio and market conditions may change, the distribution rate, the composition of the distribution and the Fund's policy to declare distributions monthly may be subject to change, including by the Board of Directors.

Important Information

BNY Mellon Investment Adviser, Inc., the investment adviser for the Fund, is part of BNY Mellon Investment Management. BNY Mellon Investment Management is one of the world’s largest asset managers, with $2.0 trillion in assets under management as of December 31, 2023. Through a client-first approach, BNY Mellon Investment Management brings investors specialist expertise through its seven investment firms offering solutions across every major asset class and backed by the breadth and scale of BNY Mellon. Additional information on BNY Mellon Investment Management is available on www.bnymellonim.com. Follow us on LinkedIn for the latest company news and activity.

BNY Mellon Investment Management is a division of BNY Mellon, which has $47.8 trillion in assets under custody and/or administration as of December 31, 2023. Established in 1784, BNY Mellon is America's oldest bank. Today, BNY Mellon powers capital markets around the world through comprehensive solutions that help clients manage and service their financial assets throughout the investment life cycle. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bnymellon.com. Follow us on LinkedIn or visit our newsroom for the latest company news.

Closed-end funds are traded on the secondary market through one of the stock exchanges. The Fund's investment returns and principal values will fluctuate so that an investor’s shares may be worth more or less than the original cost. Shares of closed-end funds may trade above (a premium) or below (a discount) the net asset value of the fund’s portfolio. There is no assurance that the Fund will achieve its investment objective.

This release is for informational purposes only and should not be considered as investment advice or a recommendation of any particular security.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240125659561/en/

For Press Inquiries:

BNY Mellon Investment Adviser, Inc.

Sue Watt

(212) 815-3757



For Other Inquiries:

BNY Mellon Securities Corporation

The National Marketing Desk

240 Greenwich Street

New York, New York 10286

1-800-334-6899

Source: BNY Mellon Alcentra Global Credit Income 2024 Target Term Fund, Inc.

FAQ

What is the distribution amount per share declared by BNY Mellon Alcentra Global Credit Income 2024 Target Term Fund, Inc.?

The Fund has declared a distribution of $0.035 per share of common stock.

When is the ex-dividend date for BNY Mellon Alcentra Global Credit Income 2024 Target Term Fund, Inc.?

The ex-dividend date is February 7, 2024.

Who is the investment adviser for BNY Mellon Alcentra Global Credit Income 2024 Target Term Fund, Inc.?

BNY Mellon Investment Adviser, Inc. is the investment adviser for the Fund.

What is the total assets under management for BNY Mellon Investment Management?

BNY Mellon Investment Management has $2.0 trillion in assets under management as of December 31, 2023.

What is the investment objective of BNY Mellon Alcentra Global Credit Income 2024 Target Term Fund, Inc.?

There is no assurance that the Fund will achieve its investment objective.