The New America High Income Fund, Inc. Declares Dividend

Rhea-AI Summary

The New America High Income Fund, Inc. (HYB) declared a dividend of $.04 per share for common shareholders on March 28, 2024. The ex-dividend date is March 14th. The Fund, managed by T. Rowe Price Associates, Inc., has a leveraged capital structure and assets worth $1.4 trillion as of December 31, 2023, with $20 billion in 'high yield' investments.

Insights

Financial Analyst

The announcement of a dividend payment is a significant event for shareholders as it directly impacts their return on investment. The specified dividend of $.04 per share may seem modest, but it's essential to consider the yield in relation to the share price. A consistent dividend can signal a stable cash flow and a management team confident in the Fund's financial health. However, investors should also consider the Fund's payout ratio, which indicates the proportion of earnings paid out as dividends, to assess sustainability.

Market Research Analyst

The New America High Income Fund's status as a diversified, closed-end management investment company with a leveraged capital structure has implications for risk and return. Leverage can amplify gains but also losses, which is a critical consideration for risk-averse investors. The Fund's focus on 'high yield' investments typically involves greater risk compared to investment-grade securities. It's important to examine the Fund's updated portfolio data for asset allocation and credit quality to gauge the risk-adjusted return potential.

Investment Advisor

Investors evaluating the Fund should not only focus on the dividend announcement but also on the pedigree of the investment adviser, T. Rowe Price. With a long history since 1937 and a significant amount of assets under management, including a substantial portfolio of high yield investments, T. Rowe Price's experience in managing high-yield assets could be a positive indicator of the Fund's potential performance. However, due diligence is required to understand the specific strategies employed and their alignment with current market conditions.

BOSTON, March 01, 2024 (GLOBE NEWSWIRE) -- The New America High Income Fund, Inc. (the “Fund”) (NYSE: HYB) announced today that it will pay a dividend of $.04 per share on the company’s common stock on March 28, 2024 to common shareholders of record as of the close of business on March 15, 2024. The ex-dividend date will be March 14th.

The Fund has released updated portfolio data which can be found on the Fund’s website at www.newamerica-hyb.com.

The New America High Income Fund, Inc. is a diversified, closed-end management investment company with a leveraged capital structure. The Fund’s investment adviser is T. Rowe Price Associates, Inc. (“T. Rowe Price”). As of December 31, 2023, T. Rowe Price and its affiliates managed approximately $1.4 trillion of assets, including approximately $20 billion of “high yield” investments. T. Rowe Price has provided investment advisory services to investment companies since 1937.

Contact:
Ellen E. Terry, President
Telephone: 617-263-6400
www.newamerica-hyb.com

FAQ

When will The New America High Income Fund, Inc. (HYB) pay a dividend to common shareholders?

The Fund will pay a dividend of $.04 per share on March 28, 2024.

What is the ex-dividend date for The New America High Income Fund, Inc. (HYB)?

The ex-dividend date for HYB is March 14th.

Who is the investment adviser for The New America High Income Fund, Inc. (HYB)?

T. Rowe Price Associates, Inc. is the investment adviser for HYB.

How much in assets did T. Rowe Price and its affiliates manage as of December 31, 2023?

As of December 31, 2023, T. Rowe Price and its affiliates managed approximately $1.4 trillion in assets.

How much did T. Rowe Price have in 'high yield' investments as of December 31, 2023?

T. Rowe Price had approximately $20 billion in 'high yield' investments as of December 31, 2023.