Welcome to our dedicated page for Allspring Utilities and High Income Fund news (Ticker: ERH), a resource for investors and traders seeking the latest updates and insights on Allspring Utilities and High Income Fund stock.
Allspring Utilities and High Income Fund (ERH) is a diversified closed-end management investment company dedicated to providing high levels of current income and moderate capital growth. Emphasizing tax-advantaged dividend income, the fund invests in a wide array of industries, including auto components, hotels, household durables, media, specialty retail, apparel, oil, gas, consumable fuels, industrials, information technology, telecommunication services, financial, and healthcare sectors. The fund's investment portfolio is comprised of direct debt instruments, which are interests in amounts owed to lenders by corporate or other borrowers.
The fund is managed by Allspring Global Investments, formerly known as Wells Fargo Asset Management. Its investment advisory services are provided by Wells Fargo Funds Management LLC. The fund employs a managed distribution plan aiming to declare monthly distributions to its common shareholders at an annual minimum fixed rate of 7.0%, based on the fund's average monthly net asset value (NAV) per share over the prior 12 months. These distributions are sourced from income, capital gains, and sometimes paid-in capital.
ERH's investment team has recently been strengthened with the addition of Andy Smith, CFA, who will join Jack Spudich, CFA, and Kent Newcomb, CFA, in managing the fund's equity sleeve. The high yield bond sleeve continues to be managed by Michael Schueller, CFA, and Chris Lee, CFA. Smith brings a wealth of experience from his tenure at Wells Fargo Asset Management, Edward Jones, and A.G. Edwards.
The fund’s strategy includes leveraging through a revolving credit facility and potentially issuing preferred shares in the future. This leverage can amplify both gains and risks, leading to greater volatility in the net asset value and market price of ERH's common shares. The fund’s investments in the utility sector and international markets add layers of risk, including political instability, currency fluctuation, and sector-specific developments.
Allspring Global Investments is a renowned independent asset management firm with over $580 billion in assets under advisement. The firm operates with a global presence and boasts a team of more than 440 investment professionals. Allspring is driven by a commitment to thoughtful investing and purposeful planning, aiming to deliver both financial returns and positive outcomes.
The latest news highlights the fund's ongoing commitment to transparency regarding its distribution sources and performance metrics. Investors are provided with detailed notices about the sources of their monthly distributions, helping them make informed decisions.
Allspring Utilities and High Income Fund (ERH) has released its monthly distribution notice, indicating that a portion of the distribution may be a return of capital. The Fund's current month distribution of $0.06347 per share comprises 93% from net investment income and 7% from paid-in capital. Fiscal year-to-date distributions total $0.18812, with 47.50% from net investment income and 52.50% from paid-in capital. The Fund maintains a managed distribution plan with an annual minimum fixed rate of 7.0% based on average monthly NAV. As of October 31, 2024, the Fund showed a 5-year NAV return of 12.51% and a fiscal YTD return of 5.96%.
Allspring has declared monthly distributions for three closed-end funds. The Income Opportunities Fund (EAD) will distribute $0.05270 per share, the Multi-Sector Income Fund (ERC) $0.06620, and the Utilities and High Income Fund (ERH) $0.06347. All distributions show slight increases from prior amounts.
The distributions are part of a managed distribution plan providing annual minimum fixed rates of 8.75% for EAD, 8.00% for ERC, and 7.00% for ERH, based on 12-month average NAV. The declaration date is October 25, 2024, with payment scheduled for December 2, 2024.
Allspring Global Investments has announced monthly distributions for three of its closed-end funds: Allspring Income Opportunities Fund (EAD), Allspring Multi-Sector Income Fund (ERC), and Allspring Utilities and High Income Fund (ERH). The distributions per share are $0.05247, $0.06599, and $0.06258 respectively, with slight increases from prior distributions.
These funds operate under managed distribution plans, targeting annual minimum fixed rates of 8.75% for EAD, 8.00% for ERC, and 7.00% for ERH, based on average monthly NAV. Distributions may come from income, paid-in capital, or capital gains. The ex-dividend date is October 15, 2024, with payments scheduled for November 1, 2024.
Each fund has specific investment objectives, ranging from high current income to moderate capital growth. Investors are reminded that distribution amounts should not be used to measure performance and that shares may trade at premiums or discounts to NAV in the secondary market.
Allspring Global Investments has announced monthly distributions for three closed-end funds: Allspring Income Opportunities Fund (EAD), Allspring Multi-Sector Income Fund (ERC), and Allspring Utilities and High Income Fund (ERH). The distributions per share are $0.05221, $0.06589, and $0.06204 respectively, with slight increases from prior distributions.
Key dates include:
- Declaration date: July 26, 2024
- Ex-dividend date: August 12, 2024
- Record date: August 12, 2024
- Payable date: September 3, 2024
These funds operate under managed distribution plans, providing monthly distributions at fixed annual rates based on average monthly NAV. Distributions may come from income, paid-in capital, or capital gains. Investors are cautioned that distribution amounts should not be used to measure fund performance.
On June 28, 2024, Allspring announced distributions for three of its closed-end funds. The Allspring Income Opportunities Fund (EAD) declared a monthly distribution of $0.05210 per share, up by $0.00013. The Allspring Multi-Sector Income Fund (ERC) announced $0.06586 per share, an increase of $0.00014, while the Allspring Utilities and High Income Fund (ERH) declared $0.06200 per share, up by $0.00003.
Important dates include the declaration date of June 28, 2024, the ex-dividend and record date of July 11, 2024, and the payable date of August 1, 2024. These funds follow a managed distribution plan with annual minimum fixed rates based on their NAVs: 7.00% for ERH, 8.75% for EAD, and 8.00% for ERC.
The sources of distributions can include income, paid-in capital, and/or capital gains, but should not be conflated with performance metrics. The Allspring Income Opportunities Fund focuses on high current income and potential capital appreciation. The Allspring Multi-Sector Income Fund aims for high income with interest rate risk, while the Allspring Utilities and High Income Fund targets high income and moderate capital growth with tax-advantaged dividends.
More information is available at Allspring's website.
Allspring Income Opportunities Fund (NYSE American: EAD), the Allspring Multi-Sector Income Fund (NYSE American: ERC), and the Allspring Utilities and High Income Fund (NYSE American: ERH) have announced monthly distributions. EAD increased by $0.00018 to $0.05192, ERC increased by $0.00024 to $0.06566, and ERH decreased by $0.00032 to $0.06246. The declaration date is April 26, 2024, with an ex-dividend date of May 10, 2024, a record date of May 13, 2024, and a payable date of June 3, 2024. The managed distribution plan ensures monthly distributions at fixed rates based on the fund's NAV, sourced from income, paid-in capital, and/or capital gains.
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