Highland Global Allocation Fund Declares Monthly Distributions of $0.081 Per Share
Highland Global Allocation Fund (NYSE: HGLB) has declared monthly distributions of $0.081 per share for October through December 2024. This declaration aligns with the Fund's level distribution policy, which has reset the annual distribution rate to 8.5% of the average NAV per share, based on the final five trading days of 2023. The distributions will be payable on October 31, November 29, and December 31, 2024, with corresponding ex-dates and record dates set for each month.
Highland Global Allocation Fund (NYSE: HGLB) ha dichiarato distribuzioni mensili di $0.081 per azione per il periodo da ottobre a dicembre 2024. Questa dichiarazione si allinea con la politica di distribuzione del fondo, che ha ripristinato il tasso di distribuzione annuale all'8.5% del NAV medio per azione, basato sugli ultimi cinque giorni di negoziazione del 2023. Le distribuzioni saranno pagabili il 31 ottobre, 29 novembre e 31 dicembre 2024, con le rispettive date ex e di registrazione fissate per ogni mese.
Highland Global Allocation Fund (NYSE: HGLB) ha declarado distribuciones mensuales de $0.081 por acción para el periodo de octubre a diciembre de 2024. Esta declaración está en línea con la política de distribución del fondo, la cual ha restablecido la tasa de distribución anual al 8.5% del NAV promedio por acción, basado en los últimos cinco días de negociación de 2023. Las distribuciones se pagarán el 31 de octubre, 29 de noviembre y 31 de diciembre de 2024, con las fechas ex y de registro correspondientes establecidas para cada mes.
하이랜드 글로벌 할당 펀드 (NYSE: HGLB)는 2024년 10월부터 12월까지 주당 $0.081의 월 배당금을 선언했습니다. 이 선언은 펀드의 배당 분배 정책에 부합하며, 2023년 거래의 마지막 5일을 기준으로 연간 배당률을 주당 평균 NAV의 8.5%로 재설정했습니다. 배당금은 2024년 10월 31일, 11월 29일, 12월 31일에 지급될 예정이며, 각 월마다 해당하는 기준일과 배당락일이 설정됩니다.
Highland Global Allocation Fund (NYSE: HGLB) a déclaré des distributions mensuelles de $0.081 par action pour la période d'octobre à décembre 2024. Cette déclaration est conforme à la politique de distribution du fonds, qui a réinitialisé le taux de distribution annuel à 8.5% de la valeur liquidative moyenne par action, basée sur les cinq derniers jours de négociation de 2023. Les distributions seront payables le 31 octobre, 29 novembre et 31 décembre 2024, avec des dates ex et de registre correspondantes fixées pour chaque mois.
Highland Global Allocation Fund (NYSE: HGLB) hat monatliche Ausschüttungen von $0.081 pro Aktie für den Zeitraum von Oktober bis Dezember 2024 erklärt. Diese Erklärung steht im Einklang mit der Ausschüttungspolitik des Fonds, die den jährlichen Ausschüttungssatz auf 8,5% des durchschnittlichen NAV pro Aktie, basierend auf den letzten fünf Handelstagen des Jahres 2023, zurückgesetzt hat. Die Ausschüttungen werden am 31. Oktober, 29. November und 31. Dezember 2024 ausgezahlt, mit entsprechenden Ex- und Record-Daten für jeden Monat.
- Monthly distributions of $0.081 per share declared for Q4 2024
- Annual distribution rate set at 8.5% of average NAV
- None.
Insights
The announcement of monthly distributions by Highland Global Allocation Fund (HGLB) is a routine update that provides income stability for investors. The
However, it's important to note that the distribution amount is reset annually based on the fund's NAV, meaning it could change in future years depending on the fund's performance. While the consistent monthly payouts can be appealing, investors should be aware that distributions may include return of capital if the fund's performance doesn't support the payout level. This could potentially erode the NAV over time if not managed properly.
Overall, while this news provides clarity on near-term distributions, it doesn't significantly impact the fund's long-term prospects or overall market position. Investors should consider this information in the context of the fund's overall strategy, performance and their personal investment goals.
The following dates apply to the distributions declared:
Ex-Date | Record Date | Payable Date |
October 24, 2024 | October 24, 2024 | October 31, 2024 |
November 22, 2024 | November 22, 2024 | November 29, 2024 |
December 24, 2024 | December 24, 2024 | December 31, 2024 |
About the Level Distribution Policy
In March 2019, the Fund's Board of Trustees (the "Board") approved a level distribution policy (the "Level Distribution Policy") under which the Fund makes monthly distributions to stockholders at a constant and fixed (but not guaranteed) rate that will reset annually to a rate calculated based on the average of the Fund's NAV per share (the "Distribution Amount"), as reported for the final five trading days of the month preceding the announcement of distributions. The Distribution Amount applicable to Q4 2024 was reset based upon the results of the distribution rate calculation. The Distribution Amount applicable for future periods may be reset based upon the results of the distribution rate calculation.
There can be no guarantee that the Level Distribution Policy will be successful in its goals. The Fund's ability to maintain a stable level of distributions to shareholders will depend on a number of factors, including changes in the financial market, market interest rates, and performance of overall equity and fixed-income markets. As portfolio and market conditions change, the ability of the Fund to continue to make distributions in accordance with the Level Distribution Policy may be affected.
Shareholders have the option of reinvesting distributions in additional common shares through the Fund's Dividend Reinvestment Plan, or electing to receive cash by contacting AST, their financial adviser or their brokerage firm. Shareholders who wish to receive their distribution in cash must opt out of the Fund's Dividend Reinvestment Plan. For further information, shareholders should carefully read the description of the Dividend Reinvestment Plan in the prospectus.
The Board may amend the Level Distribution Policy, the Distribution Amount or distribution intervals, or the Fund may cease distributions entirely, at any time, without prior notice to shareholders. The announcement of, amendment to, or later termination of this Level Distribution Policy may have an adverse effect on the market price of the Fund's shares of common stock.
The Fund may at times, in its discretion, pay out less than the entire amount of net investment income earned in any particular period and may at times pay out such accumulated undistributed income in addition to net investment income earned in other periods in order to permit the Fund to maintain a stable level of distributions. As a result, the dividend paid by the Fund to shareholders for any particular period may be more or less than the amount of net investment income earned by the Fund during such period. The Fund intends to distribute all realized net long-term capital gains, if any, no more than once every twelve months.
To the extent that sufficient investment income is not available on a monthly basis, the Fund's distributions may consist of return of capital in order to maintain the distribution amount. A return of capital occurs when some or all of the money that shareholders invested in the Fund is paid back to them. A return of capital does not necessarily reflect the Fund's investment performance and should not be confused with 'yield' or 'income.' Any such returns of capital will decrease the Fund's total assets and, therefore, could have the effect of increasing the Fund's expense ratio. In addition, the Level Distribution Policy may require the Fund to sell its portfolio securities at a less than opportune time to meet the distribution amount.
Shareholders should not make any conclusions about the Fund's investment performance from the amount of the Fund's distributions or the Fund's Level Distribution Policy. With each distribution that does not consist solely of net investment income, the Fund will issue a notice to shareholders that will provide detailed information regarding the amount and composition of the distribution and other related information. The amounts and sources of distributions reported in the notice to shareholders are only estimates and are not being provided for tax reporting purposes. The actual amounts and sources of the distributions for tax reporting purposes will depend upon the Fund's investment experience during its full fiscal year and may be subject to changes based on tax regulations. The Fund will send individual shareholders a Form 1099-DIV for each calendar year that will tell them how to report these distributions for federal income tax purposes. Please consult your tax advisor about any tax implications applicable to you in light of your particular circumstances.
About the Highland Global Allocation Fund
The Highland Global Allocation Fund ("HGLB") (NYSE: HGLB) is a closed-end fund managed by NexPoint Asset Management, L.P. For more information visit www.nexpointassetmgmt.com/global-allocation-fund.
About NexPoint Asset Management, L.P.
NexPoint Asset Management, L.P. is an SEC-registered investment adviser. It is the adviser to a suite of registered funds, including open-end mutual funds, closed-end funds, and an exchange-traded fund. For more information visit nexpointassetmgmt.com.
The distribution may include a return of capital. Please refer to the 19(a)-1 Source of Distribution Notice on the NexPoint Funds website for Section 19 notices that provide estimated amounts and sources of the fund's distributions, which should not be relied upon for tax reporting purposes.
No assurance can be given that the Fund will achieve its investment objectives.
Shares of closed-end investment companies frequently trade at a discount to net asset value. The price of the Fund's shares is determined by a number of factors, several of which are beyond the control of the Fund. Therefore, the Fund cannot predict whether its shares will trade at, below or above net asset value. Past performance does not guarantee future results.
Investors should consider the investment objectives, risks, charges and expenses of the Highland Global Allocation Fund carefully before investing. This and other information can be found in the Fund's prospectus, which may be obtained by calling 1-866-745-0264 or visiting www.nexpointassetmgmt.com. Please read the prospectus carefully before you invest.
CONTACTS
Investor Relations
Kristen Thomas
IR@nexpoint.com
Media Relations
Prosek Partners for NexPoint
Pro-nexpoint@prosek.com
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SOURCE Highland Global Allocation Fund
FAQ
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