NEUBERGER BERMAN NEXT GENERATION CONNECTIVITY FUND ANNOUNCES MONTHLY DISTRIBUTION

Rhea-AI Summary

Neuberger Berman Next Generation Connectivity Fund Inc. (NYSE: NBXG) has declared a $0.10 per share distribution payable on April 28, 2023, with a record date of April 17, 2023 and an ex-date of April 14, 2023. The Fund's policy anticipates stable monthly distributions of $0.10 per share, contingent on income stability and other factors. Future distributions may include net investment income, capital gains, and return of capital. A notice will be provided for any distribution not consisting solely of net investment income. Neuberger Berman manages $427 billion in client assets as of December 31, 2022, and has been recognized for excellence in ESG practices.

Positive

• Declared a monthly distribution of $0.10 per share, instilling confidence in income stability.
• Management of $427 billion in client assets indicates strong financial health.

Negative

• The ability to maintain the distribution rate is uncertain, dependent on market conditions.
• Future distributions may consist of capital gains and return of capital, implying potential instability in income.

NEW YORK, March 31, 2023 /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 April 28, 2023, has a record date of April 17, 2023 and has an ex-date of April 14, 2023.

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 2023 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 $427 billion in client assets as of December 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

View original content to download multimedia:https://www.prnewswire.com/news-releases/neuberger-berman-next-generation-connectivity-fund-announces-monthly-distribution-301787236.html

SOURCE Neuberger Berman

FAQ

What is the distribution amount for NBXG announced in March 2023?

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

When will the distribution declared by NBXG be paid?

The distribution will be paid on April 28, 2023.

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

The record date is April 17, 2023, and the ex-date is April 14, 2023.

Is the distribution from NBXG guaranteed?

No, the distribution is not guaranteed and may depend on various factors including income stability.

What does the fund manage in terms of assets?

As of December 31, 2022, Neuberger Berman manages $427 billion in client assets.