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 common share, payable on September 30, 2022. The record date is September 15, 2022, and the ex-date is September 14, 2022. The Fund plans to maintain a level distribution policy, anticipating regular monthly distributions. Factors such as income stability and capital gains will influence its ability to sustain this rate. Future distributions may consist of net investment income, capital gains, and return of capital, with tax characteristics determined at year-end.

Positive

• Monthly distribution of $0.10 per share demonstrates a consistent income stream for investors.
• Fund's commitment to a level distribution policy indicates stable management and financial planning.

Negative

• The ability to maintain the distribution depends on income stability, which could fluctuate due to market conditions.
• Future distributions may not solely consist of net investment income, raising concerns about the source of returns.

NEW YORK, Aug. 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 September 30, 2022, has a record date of September 15, 2022 and has an ex-date of September 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 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 recent distribution announced by Neuberger Berman Next Generation Connectivity Fund (NBXG)?

Neuberger Berman Next Generation Connectivity Fund declared a distribution of $0.10 per share payable on September 30, 2022.

When is the record date for the NBXG distribution?

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

What factors will affect the distribution rate of NBXG in the future?

The distribution rate will depend on income stability, capital gains, and fund fees and expenses.

What risks are associated with the NBXG distribution policy?

Risks include market declines, competition, and fluctuations in the Fund's performance.

How will future distributions of NBXG be characterized?

Future distributions may consist of net investment income, capital gains, and return of capital.