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Destra Multi-Alternative Fund Declares December 2022 Distribution
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary
On December 9, 2022, Destra Multi-Alternative Fund (NYSE: DMA) announced a monthly distribution of $0.0554 per share for December 2022. The record date is December 20, 2022, with payments made on December 30, 2022. With a share price of $6.75 as of December 7, 2022, this distribution equates to an annualized rate of approximately 9.84%. The Fund's Dividend Reinvestment Plan allows for automatic reinvestment of dividends unless opted out. Notably, distributions may include returns from sources beyond net investment income.
Positive
Monthly distribution of $0.0554 per share announced, indicating consistent returns.
Annualized distribution rate of approximately 9.84%, appealing to income-focused investors.
Negative
Distributions may be sourced from capital gains or return of capital rather than net investment income, raising potential concerns about sustainability.
BOZEMAN, Mont.--(BUSINESS WIRE)--
On December 9, 2022, Destra Multi-Alternative Fund (the “Fund” or “DMA”), a closed-end fund traded on the New York Stock Exchange under the symbol DMA, declared a distribution of $0.0554 per share for the month of December 2022. The record date for the distribution is December 20, 2022, and the payable date is December 30, 2022. The Fund will trade ex-distribution on December 19, 2022.
Based on the Fund’s current share price of $6.75 (as of its close on December 7, 2022), the distribution represents an annualized distribution rate of approximately 9.84% (calculated by annualizing the distribution amount and dividing it by the current market price). Information regarding the distribution rate is included for informational purposes only and is not necessarily indicative of future results, the achievement of which cannot be assured. The distribution rate should not be considered the yield or total return on an investment in the Fund.
Pursuant to the Fund’s Dividend Reinvestment Plan (“DRP”), unless the registered owner of the Fund’s Common Shares elects otherwise by contacting the Fund’s plan agent, American Stock Transfer & Trust Company, LLC (“AST”), all dividends declared on the Common Shares will be automatically reinvested in additional Common Shares by AST. Common Shareholders who elect not to participate in the DRP will receive all dividends and other distributions in cash paid by check mailed directly to the shareholder of record. Shareholders may obtain more information on the shareholder services offered to the Fund by calling AST at the Fund's dedicated toll free number 800-591-8238.
A portion of each distribution may be treated as paid from sources other than net investment income, including but not limited to short-term capital gain, long-term capital gain, or return of capital. As required by Section 19(a) of the Investment Company Act of 1940, a notice will be distributed to shareholders in the event that a portion of a monthly distribution is derived from sources other than undistributed net investment income. The final determination of the source and tax characteristics of these distributions will depend upon the Fund’s investment experience during its fiscal year and will be made after the Fund’s year end. The Fund will send to investors a Form 1099-DIV for the calendar year that will define how to report these distributions for federal income tax purposes. For further information regarding the Fund’s distributions, please visit www.destracapital.com.
Destra Multi-Alternative Fund (NYSE: DMA) is a core alternative solution that seeks to achieve long-term performance non-correlated to the broad stock and bond markets. It invests primarily in alternative strategies and asset classes including real estate, direct private equity, alternative credit, commodities, and hedge strategies.
Destra Capital Advisors LLC, based in Bozeman, MT, serves as Investment Adviser and Secondary Market Servicing agent to the Fund. Validus Growth Investors serves as the Investment Sub-Adviser to the Fund.
Shares of the Fund can be purchased on the New York Stock Exchange through any securities broker.
Please contact Destra Capital Advisors LLC, the Fund’s marketing, and investor support services agent, at DMA@destracapital.com or call (877) 855-3434 if you have any questions regarding DMA.
