NEUBERGER BERMAN NEXT GENERATION CONNECTIVITY FUND ANNOUNCES MONTHLY DISTRIBUTION

Rhea-AI Summary

Neuberger Berman Next Generation Connectivity Fund (NYSE: NBXG) declared a monthly distribution of $0.10 per share, payable on November 30, 2022. The record date is November 15, 2022 and the ex-date is November 14, 2022. The Fund, maintaining a level distribution policy, anticipates making regular monthly distributions, subject to income stability and market conditions. Future distributions may include net investment income, capital gains, and return of capital. Final tax characteristics of the 2022 distributions will be determined after year-end.

Positive

• Monthly distribution of $0.10 per share indicates ongoing returns to shareholders.
• Fund's distribution strategy aims to maintain stability in payouts.
• Managed $408 billion in client assets as of September 30, 2022, showcasing strong asset management capabilities.

Negative

• The distribution's sustainability is uncertain and contingent on income stability and capital gains.
• Possible inclusion of return of capital in distributions may affect long-term shareholder value.

NEW YORK, Oct. 31, 2022 /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 November 30, 2022, has a record date of November 15, 2022 and has an ex-date of November 14, 2022.

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 2022 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 26 countries, Neuberger Berman's diverse team has over 2,600 professionals. For eight 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). Neuberger Berman is a PRI Leader, a designation, since last assessed, that was awarded to fewer than 1% of investment firms for excellence in Environmental, Social and Governance (ESG) practices. In the 2021 PRI Assessment, the firm obtained the highest possible scoring for its overarching approach to ESG investment and stewardship, and integration across asset classes. The firm manages $408 billion in client assets as of September 30, 2022. 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 monthly distribution amount for NBXG announced on October 31, 2022?

Neuberger Berman Next Generation Connectivity Fund announced a monthly distribution of $0.10 per share.

When is the record date for the NBXG distribution payable on November 30, 2022?

The record date for the distribution is November 15, 2022.

What are the implications of the Neuberger Berman distribution strategy for NBXG investors?

The distribution strategy may include net investment income, capital gains, and return of capital, affecting the sustainability of future payouts.

What factors could affect the sustainability of NBXG's distribution rate?

The sustainability depends on income stability, availability of capital gains, and fund fees and expenses.