Welcome to our dedicated page for Miller/Howard High Income Equity Fund news (Ticker: HIE), a resource for investors and traders seeking the latest updates and insights on Miller/Howard High Income Equity Fund stock.
The Miller/Howard High Income Equity Fund (NYSE: HIE) is a closed-end, diversified management investment company managed by Miller/Howard Investments Inc., a seasoned, research-driven investment boutique with over 25 years of experience. The Fund’s primary objective is to provide shareholders with a high level of current income, with a secondary goal of capital appreciation. This is achieved by investing predominantly in dividend or distribution-paying equity securities of U.S. companies and non-U.S. companies traded on U.S. exchanges. The portfolio spans various sectors, including Natural Gas Transmission, Real Estate Investment Trusts, Petroleum Refining, Oil and Gas Extraction, and Electric Services.
In recent news, the Fund’s Board of Trustees declared cash distributions of $0.051 per share for April, May, and June 2024, showcasing the Fund's commitment to delivering consistent returns to its shareholders. The current indicated distribution rate based on the closing price on March 28, 2023, is 5.52%, while the rate based on the Fund's net asset value per share is 5.28%. The Fund aims to pay monthly distributions, with the Board of Trustees regularly reviewing the distribution levels to align with market conditions and Fund performance.
The Fund has a 10-year term limit, set to terminate on November 24, 2024, unless extended by the Board of Trustees or shareholders. Upon termination, shareholders will receive the NAV per share. The management by Miller/Howard Investments ensures a focus on high-yielding equities with strong financial health and dividend growth prospects, offering a blend of income, capital appreciation, and income growth opportunities.
Miller/Howard Investments Inc., based in Kingston, New York, manages approximately $3.2 billion in total firm assets, emphasizing high-quality income-producing equities. The firm's long-standing experience in managing portfolios for major institutions and individual investors adds significant value and confidence for shareholders of the Miller/Howard High Income Equity Fund.
The Miller/Howard High Income Equity Fund (NYSE: HIE) has announced its monthly cash distribution for October 2024. The Board of Trustees has declared a distribution of $0.051 per share. Key dates for this distribution are:
- Declaration Date: October 1, 2024
- Ex-Date: October 24, 2024
- Record Date: October 24, 2024
- Payable Date: October 31, 2024
Based on the Fund's closing price of $12.19 on the New York Stock Exchange on September 30, 2024, the current indicated distribution rate is 5.02%. The rate based on the Fund's net asset value per share of $12.41 is 4.93%. The Board of Trustees reviews the distribution amount quarterly, considering various factors that may affect the Fund's distribution rate.
Miller/Howard High Income Equity Fund (NYSE: HIE) has announced its planned termination on or about November 22, 2024, the last business date before the previously announced November 24, 2024 Termination Date. This aligns with the Fund's ten-year expected term as outlined in its February 28, 2020 prospectus.
Key points:
- The Fund will make a liquidating distribution around the Termination Date
- Common shares will continue trading on NYSE through November 20, 2024
- Trading will be suspended after market close on November 20, 2024
- The Fund's investment adviser may transition the portfolio to cash or cash equivalents
- No regular monthly distribution will be declared in November 2024
- Liquidation proceeds will be paid to shareholders promptly after liquidation
The Board of Trustees of the Miller/Howard High Income Equity Fund (NYSE: HIE) has declared monthly cash distributions of $0.051 per share for July, August, and September 2024. Key dates for these distributions include the declaration date of July 1, 2024; ex-dates of July 24, August 23, and September 23; record dates of July 24, August 23, and September 23; and payment dates of July 31, August 30, and September 30, respectively.
As of June 28, 2024, the Fund's indicated distribution rate based on the closing price of $11.21 is 5.46%, and 5.29% based on the net asset value per share of $11.56. The Fund aims to provide consistent monthly distributions, with the Board of Trustees reviewing and potentially adjusting the distribution level each quarter as per the adviser's recommendation. The distribution rate is subject to change based on various factors including market returns and Fund performance. These distributions should not be considered indicative of the Fund's dividend yield or total return.
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