Neuberger Berman Next Generation Connectivity Fund Announces Monthly Distribution

Rhea-AI Summary

Neuberger Berman Next Generation Connectivity Fund Inc. (NYSE: NBXG) has announced a monthly distribution of $0.10 per share of common stock. This distribution is set to be paid on December 31, 2021, with a record date of December 15, 2021, and an ex-date of December 14, 2021. The Fund will continue to pay regular monthly distributions, subject to market conditions. Factors impacting the distribution rate include income stability and Fund expenses. Distributions may contain net investment income, capital gains, and return of capital, with specifics provided as required.

Positive

• Anticipated monthly distribution of $0.10 per share.
• Historically recognized for strong ESG practices with an A+ rating.

Negative

• Distribution rates may change based on market conditions and fund performance.
• Potential risks related to market downturns and competition affecting performance.

NEW YORK, Nov. 30, 2021 /PRNewswire/ -- Neuberger Berman Next Generation Connectivity Fund Inc. (NYSE: NBXG) (the "Fund") has announced a distribution declaration of $0.10 per share of common stock. The distribution announced today is payable on December 31, 2021, has a record date of December 15, 2021 and has an ex-date of December 14, 2021.

Under its level distribution policy, the Fund anticipates that it will make regular monthly distributions, subject to market conditions, of $0.10 per share of common stock, unless further action is taken to determine another amount.  The Fund's ability to maintain its current distribution rate will depend on a number of factors, including the amount and stability of income received from its investments, availability of capital gains, and the level of other Fund fees and expenses. There is no assurance that the Fund will always be able to pay a distribution of any particular amount or that a distribution will consist of only net investment income.

Due to an effort to maintain a stable distribution amount, the distribution announced today, as well as future distributions, may consist of net investment income, net realized capital gains and return of capital. In compliance with Section 19 of the Investment Company Act of 1940, as amended, a notice would be provided for any distribution that does not consist solely of net investment income. The notice would be for informational purposes and not for tax reporting purposes, and would disclose, among other things, estimated portions of the distribution, if any, consisting of net investment income, capital gains and return of capital. The final determination of the source and tax characteristics of all distributions paid in 2021 will be made after the end of the year.

About Neuberger Berman

Neuberger Berman, founded in 1939, is a private, independent, employee-owned investment manager. The firm manages a range of strategies—including equity, fixed income, quantitative and multi-asset class, private equity, real estate and hedge funds—on behalf of institutions, advisors and individual investors globally. With offices in 25 countries, Neuberger Berman's diverse team has over 2,400 professionals. For seven consecutive years, the company has been named first or second in Pensions & Investments Best Places to Work in Money Management survey (among those with 1,000 employees or more). In 2020, the PRI named Neuberger Berman a Leader, a designation awarded to fewer than 1% of investment firms for excellence in Environmental, Social and Governance (ESG) practices. The PRI also awarded Neuberger Berman an A+ in every eligible category for our approach to ESG integration across asset classes. The firm manages $437 billion in client assets as of September 30, 2021. For more information, please visit our website at www.nb.com.

Statements made in this release that look forward in time involve risks and uncertainties. Such risks and uncertainties include, without limitation, the adverse effect from a decline in the securities markets or a decline in the Fund's performance, a general downturn in the economy, competition from other closed end investment companies, changes in government policy or regulation, inability of the Fund's investment adviser to attract or retain key employees, inability of the Fund to implement its investment strategy, inability of the Fund to manage rapid expansion and unforeseen costs and other effects related to legal proceedings or investigations of governmental and self-regulatory organizations.

Contact:
Neuberger Berman Investment Advisers LLC
Investor Information
(877) 461-1899

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SOURCE Neuberger Berman

FAQ

What is the recent distribution announcement for NBXG?

Neuberger Berman Next Generation Connectivity Fund (NYSE: NBXG) announced a distribution of $0.10 per share, payable on December 31, 2021.

When is the record date for the NBXG distribution?

The record date for the NBXG distribution is December 15, 2021.

What factors affect the distribution rate for NBXG?

The distribution rate for NBXG is influenced by income stability, capital gains availability, and fund expenses.

What are the risks associated with the NBXG fund?

Risks include securities market decline, economic downturn, and competition from other investment companies.