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.
On September 13, 2022, the Miller/Howard High Income Equity Fund (HIE) declared cash distributions of $0.051 per share for October, November, and December 2022, marking a 6.25% increase from the previous distribution. This adjustment reflects current market conditions and the investment adviser’s outlook. The fund aims to provide high current income to shareholders, funded primarily through dividends and options premiums. Additionally, the fund announced a reduction in its management fee from 1.00% to 0.90%, effective November 1, 2022, due to rising industry costs.
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