NEUBERGER BERMAN NEXT GENERATION CONNECTIVITY FUND ANNOUNCES MONTHLY DISTRIBUTION

Rhea-AI Summary

Neuberger Berman Next Generation Connectivity Fund Inc. (NYSE: NBXG) has declared a monthly distribution of $0.10 per share of common stock. This payment is scheduled for August 31, 2022, with a record date of August 15, 2022 and an ex-date of August 12, 2022. The fund aims to make regular monthly distributions, subject to market conditions. Future distributions may consist of net investment income, net realized capital gains, and return of capital. The exact source of the distributions for 2022 will only be confirmed after year-end.

Positive

• Monthly distribution set at $0.10 per share indicates stable cash flow.
• Demonstrates commitment to regular income for shareholders.

Negative

• Future distributions are not guaranteed and may vary.
• Potential risks include market declines affecting performance.

NEW YORK, July 29, 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 August 31, 2022, has a record date of August 15, 2022 and has an ex-date of August 12, 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 25 countries, Neuberger Berman's diverse team has over 2,500 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). 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 $418 billion in client assets as of June 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 distribution amount announced by NBXG?

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

When will the distribution be paid to NBXG shareholders?

The distribution will be payable on August 31, 2022.

What are the record and ex-dates for NBXG's distribution?

The record date is August 15, 2022, and the ex-date is August 12, 2022.

Is the $0.10 distribution guaranteed for future months for NBXG?

The fund aims for regular monthly distributions, but it is not guaranteed and may vary due to market conditions.

What factors might affect the NBXG distribution payments?

Distribution payments depend on investment income, capital gains, and fund expenses.