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. (DCF) announces a distribution of $0.035 per share of common stock, payable on March 21, 2024, to shareholders of record on March 7, 2024. The Fund aims to pay most of its net income to common shareholders in monthly dividends, subject to change based on market conditions. BNY Mellon Investment Adviser, Inc., part of BNY Mellon Investment Management, manages the Fund with $2.0 trillion in assets under management as of December 31, 2023.

Insights

Financial Analyst

The announcement of BNY Mellon Alcentra Global Credit Income 2024 Target Term Fund's (DCF) monthly distribution maintains its previous rate of $0.035 per share, which is a critical factor for income-focused investors. The consistency in distribution suggests stability in the Fund's income-generating capabilities. However, the caveat that the Fund may not distribute all of its net income and that the distribution policy may change indicates a need for investors to monitor the Fund's performance and management decisions closely. Such distributions are a reflection of the Fund's operational results and its asset management strategy, which can impact the Fund's attractiveness to investors seeking regular income.

Investors should also be aware of the trading dynamics of closed-end funds, which can trade at a premium or discount to net asset value (NAV). This can significantly affect the investment's total return, especially if an investor purchases shares at a premium or sells at a discount. The Fund's performance relative to its NAV will be an important metric to watch, as it can signal investor sentiment and the efficacy of the Fund's investment strategy.

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, underscores the firm's influence in the financial markets. The scale of operations can provide significant competitive advantages in terms of market access, investment opportunities and risk management. For stakeholders, the firm's ability to leverage its size and expertise across various asset classes can be indicative of potential for sustained performance and innovation in investment products.

However, the broader economic environment and market conditions can impact the performance of asset managers like BNY Mellon. Factors such as interest rate changes, regulatory developments and market volatility can affect asset valuations and investor behavior. Analysts and investors should contextualize the Fund's distributions within these external conditions to gauge the potential impact on future distributions and the Fund's overall investment strategy.

NEW YORK--(BUSINESS WIRE)-- On February 22, 2024, 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 March 21, 2024, to shareholders of record at the close of business on March 7, 2024. The ex-dividend date is March 6, 2024. The previous distribution declared in January 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/20240222183958/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

When is the distribution of $0.035 per share of common stock payable for BNY Mellon Alcentra Global Credit Income 2024 Target Term Fund, Inc. (DCF)?

The distribution of $0.035 per share of common stock is payable on March 21, 2024.

What was the previous distribution declared for BNY Mellon Alcentra Global Credit Income 2024 Target Term Fund, Inc. (DCF)?

The previous distribution declared in January was also $0.035 per share of common stock.

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

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

What is the total assets under management for BNY Mellon Investment Management as of December 31, 2023?

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

What is the ex-dividend date for the distribution of BNY Mellon Alcentra Global Credit Income 2024 Target Term Fund, Inc. (DCF)?

The ex-dividend date is March 6, 2024.