Welcome to our dedicated page for Swiss Helvetia Fund news (Ticker: SWZ), a resource for investors and traders seeking the latest updates and insights on Swiss Helvetia Fund stock.
Swiss Helvetia Fund, Inc. (NYSE: SWZ) is a non-diversified, closed-end investment company headquartered at 1270 Avenue of the Americas, New York, New York, USA. The Fund's primary goal is to seek long-term capital appreciation by investing in equity and equity-linked securities of Swiss companies. This includes sectors such as pharmaceuticals, food and beverage, industrial goods, banks, and more.
Managed by Schroder Investment Management North America Inc., the Fund leverages in-depth market analysis and a diversified portfolio strategy to offer reliable returns to its investors. With assets under management amounting to approximately $923.1 billion as of June 30, 2023, Schroders brings robust expertise to the table.
The Swiss Helvetia Fund employs a managed distribution plan to provide consistent quarterly cash distributions to its shareholders. As of December 2023, the distribution rate stands at $0.129 per share, equating to an annualized rate of 6.00%, based on the Fund's NAV as of October 31, 2023. These distributions may include net investment income, capital gains, and return of capital, among other sources.
Recent milestones include the successful election of five directors during the 2023 Annual Meeting of Stockholders and the continued partnership with Tait, Weller & Baker, LLP as the Fund's independent registered public accounting firm.
Shares of this closed-end fund are listed on the NYSE and typically trade at a discount to NAV. The Fund's performance and the market price of its shares are influenced by numerous factors, including market conditions and investor sentiment. The Swiss Helvetia Fund remains committed to delivering value to its shareholders through disciplined investment practices and strategic management.
The Swiss Helvetia Fund (NYSE: SWZ) announced a stock repurchase program for 2023, allowing the purchase of up to 250,000 shares. This initiative aims to enhance stockholder value by increasing the net asset value (NAV) per share through repurchases below NAV. While the program's success depends on various factors such as market conditions and regulatory limitations, there is no guarantee of share repurchases or increased value. The Fund focuses on long-term capital appreciation through investments in Swiss equity securities.
The Swiss Helvetia Fund, Inc. (NYSE: SWZ) has declared a quarterly distribution of $0.12285 per share, effective December 30, 2022. The distribution follows a review by the Fund's Board of Directors and is part of its managed distribution plan aimed at providing stockholders with more consistent returns. The annualized distribution rate stands at 6.00% based on the net asset value (NAV) as of October 31, 2022. Factors such as market performance and realized returns will influence future distributions. Stockholders will receive a Form 1099-DIV for tax reporting purposes.
The Swiss Helvetia Fund, Inc. (NYSE: SWZ) held its 2022 Annual Meeting of Stockholders on Sept. 16, 2022. Shareholders elected five directors to serve for one-year terms and approved Tait, Weller & Baker, LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2022. The Fund seeks long-term capital appreciation by investing in Swiss equity and equity-linked securities, trading on various stock exchanges. The shares of the Fund are traded on the NYSE under the symbol SWZ.
The Swiss Helvetia Fund, Inc. (NYSE: SWZ) announced a $15 million secured credit agreement with U.S. Bank National Association, allowing for a revolving credit line up to 10% of its available assets. The funding, intended for general corporate purposes, is secured by a lien on most of the Fund's assets and matures on March 29, 2023. This credit agreement was ratified by stockholders following a proposal from the Board of Directors, enabling leverage usage up to 10%. The Fund has not previously leveraged its investments and acknowledges inherent risks in this investment strategy.
The Swiss Helvetia Fund (NYSE: SWZ) announced a stock repurchase program for 2022, allowing for the purchase of up to 250,000 shares to enhance stockholder value by increasing the Fund's net asset value per share (NAV). The repurchase is subject to federal securities laws, market conditions, and the Fund's ability to raise cash efficiently. The Board retains the right to amend the program at any time. The Fund focuses on long-term capital appreciation through investments in Swiss equity and equity-linked securities.
The Swiss Helvetia Fund, Inc. (NYSE: SWZ) has announced a quarterly distribution of $0.1665 per share of common stock, effective following its annual review of the managed distribution plan. The record date is December 21, 2021, with an ex-dividend date of December 20, 2021, and payment on December 31, 2021. This distribution represents an annualized rate of 6.00% as of October 31, 2021. The Fund's Board may adjust or terminate the plan at any time, which could impact the share price.
The Swiss Helvetia Fund, Inc. (NYSE: SWZ) announced the results of its 2021 Annual Meeting of Stockholders held on September 14, 2021. Key outcomes included the election of five directors for a one-year term: Andrew Dakos, Richard Dayan, Phillip F. Goldstein, Gerald Hellerman, and Moritz A. Sell. Stockholders also ratified the selection of Tait, Weller & Baker, LLP as the independent accounting firm for the year ending December 31, 2021. Additionally, a non-binding proposal to permit the Fund to leverage up to 10% of total assets was approved.
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