NEUBERGER BERMAN NEXT GENERATION CONNECTIVITY FUND ANNOUNCES MONTHLY DISTRIBUTION

Rhea-AI Summary

Neuberger Berman Next Generation Connectivity Fund Inc. (NYSE: NBXG) declared a monthly distribution of $0.10 per share, payable on May 31, 2022. The record date is May 16, 2022, with an ex-date of May 13, 2022. The Fund plans to maintain regular monthly distributions at this rate, contingent on market conditions and the stability of income from investments. Future distributions may comprise net investment income, capital gains, and return of capital. The source of distributions for 2022 will be determined after the year's end.

Positive

• Monthly distribution of $0.10 per share announced.
• Regular monthly distributions anticipated under level distribution policy.

Negative

• No assurance that future distributions will remain consistent.
• Distributions may include return of capital, impacting shareholder value.

NEW YORK, April 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 May 31, 2022, has a record date of May 16, 2022 and has an ex-date of May 13, 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 $447 billion in client assets as of March 31, 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 for NBXG announced on April 29, 2022?

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

When will the distribution for NBXG be paid?

The distribution will be payable on May 31, 2022.

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

The record date is May 16, 2022, and the ex-date is May 13, 2022.

Will Neuberger Berman NBXG continue to pay $0.10 per share monthly?

The Fund aims to maintain this distribution, subject to market conditions and income stability.

What factors affect the distribution rate for NBXG?

The distribution rate depends on income from investments, capital gains, and the Fund's fees and expenses.