THE SWISS HELVETIA FUND, INC. DECLARES QUARTERLY DISTRIBUTION OF $0.129 PER SHARE

Rhea-AI Summary

The Swiss Helvetia Fund (NYSE: SWZ) has declared a quarterly distribution of $0.129 per share, in accordance with its managed distribution plan. The key dates are as follows: Record Date - June 18, 2024; Ex-Dividend Date - June 18, 2024; Payment Date - June 28, 2024.

The distribution aims to provide a consistent fixed minimum rate of return to shareholders, potentially reducing the discount to NAV. The distribution may include net investment income, capital gains, or return of capital. Shareholders will receive notices and detailed press releases if distributions are not solely from net investment income.

The annualized distribution rate is 6.00% based on NAV as of October 31, 2023. The Board reviews the Plan annually and may adjust or terminate it, potentially impacting the stock price.

Positive

• Quarterly distribution of $0.129 per share announced.
• Annualized distribution rate of 6.00% based on NAV.
• Distribution aims to provide consistent returns, reducing NAV discount.
• Automatic reinvestment option available for shareholders.

Negative

• Distribution sources vary and may include return of capital.
• Distribution rate subject to change based on NAV fluctuations.
• Plan amendments or termination can adversely affect stock price.
• Distributions are estimates and subject to change for tax purposes.

NEW YORK, June 7, 2024 /PRNewswire/ -- The Swiss Helvetia Fund, Inc. (NYSE: SWZ), a non-diversified registered closed-end investment company (the "Fund"), announced today a quarterly distribution of $0.129 per share of the Fund's common stock pursuant to the Fund's managed distribution plan (the "Plan"). The distribution is subject to the following record, ex-dividend and payment dates:

Record Date:	June 18, 2024
Ex-Dividend Date:	June 18, 2024
Payment Date:	June 28, 2024

Pursuant to the Plan, the Fund's Board of Directors has approved the quarterly distribution of a fixed amount of $0.129 per share of the Fund's common stock. The primary purpose of the Plan is to provide the Fund's stockholders with a more consistent, but not guaranteed, fixed minimum rate of distribution on a regular quarterly basis. The Plan also may have the effect of narrowing the discount to net asset value per share at which the Fund's shares trade.

Distributions under the Plan may consist of net investment income, net realized short-term and long-term capital gains, and to the extent necessary, return of capital (or other capital sources). With each distribution that does not consist solely of net investment income, the Fund will issue a notice to stockholders and an accompanying press release that will provide detailed information regarding the amount and composition of the distribution, as well as certain other related information. The Fund expects to issue any such notice and press release on or about the distribution payment date.

The amounts and sources of distributions reported in each notice will be estimated, are likely to change over time and are not provided for tax reporting purposes. The actual amounts and sources of the amounts for accounting and tax reporting purposes will depend upon the Fund's investment experience during its full fiscal year and may be subject to changes based on tax regulations. The Fund will send each stockholder a Form 1099-DIV for the calendar year that will inform stockholders how to report distributions for federal income tax purposes.

The current distribution amount of $0.129 per share of the Fund's common stock equates to an annualized distribution rate of 6.00% based on the Fund's net asset value per share or NAV as of October 31, 2023. The annualized rate is expected to change over time as the Fund's NAV varies. The Board will review at least annually the terms of the Plan to determine whether to adjust the amount or the calculation of the distribution rate, which may be affected by numerous factors, including changes in realized and projected market returns, Fund performance and other factors. The Board may amend the terms of the Plan or terminate the Plan at any time without prior notice to the Fund's stockholders. The amendment or termination of the Plan could have an adverse effect on the market price of the Fund's common stock.

Unless a stockholder has otherwise elected, distributions declared pursuant to the Plan will be reinvested automatically in shares of the Fund's common stock as provided in the Fund's automatic dividend reinvestment plan.

About The Swiss Helvetia Fund, Inc.

The Fund (www.swzfund.com) is a non-diversified, closed-end investment company seeking long-term capital appreciation through investment in equity and equity-linked securities of Swiss companies. Its shares are listed on the NYSE under the symbol "SWZ." The Fund seeks to achieve its investment objective by investing generally in Swiss equity and equity-linked securities that are traded on a Swiss stock exchange, traded at the pre-bourse level of one or more Swiss stock exchanges, traded through a market maker or traded over the counter in Switzerland. The Fund also may invest in Swiss equity and equity-linked securities of Swiss companies that are traded on other major European stock exchanges.

Closed-end funds, unlike open-end funds, are not continuously offered. Typically, shares of closed-end funds are sold in the open market through a stock exchange. Shares of closed-end funds frequently trade at a discount to net asset value. The price of the Fund's shares is determined by a number of factors, several of which are beyond the control of the Fund. Therefore, the Fund cannot predict whether its shares will trade at, below or above net asset value.

The Fund is managed by Schroder Investment Management North America Inc.

About Schroder Investment Management North America Inc.

Schroder Investment Management North America Inc. and Schroder Investment Management North America Limited, investment advisors registered with the U.S. SEC, are units of Schroders plc (SDR.L), a global asset management company with approximately $956.9 billion in assets under management as of December 31, 2023. Schroder's clients include major financial institutions including banks and insurance companies, as well as local and public authorities, public and private pension funds, endowments and foundations, intermediaries and advisors, as well as high net worth individuals and retail investors. The firm has built one of the largest networks of offices of any dedicated asset management company with more than 500 portfolio managers and analysts covering the world's investment markets, offering a comprehensive range of products and services.

Schroder Investment Management North America Inc. provides asset management products and services to clients in the U.S. and Canada. Schroder Investment Management North America Inc. is an indirect, wholly-owned subsidiary of Schroders plc, a U.K. public company with shares listed on the London Stock Exchange.

This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of the Fund's shares in any state or jurisdiction in which such offer or solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction.

Contact: 
Jennifer Brogadir
212-641-3863

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SOURCE The Swiss Helvetia Fund, Inc.

FAQ

What is the Swiss Helvetia Fund's (SWZ) latest quarterly distribution?

The Swiss Helvetia Fund (SWZ) announced a quarterly distribution of $0.129 per share.

When is the record date for SWZ's latest quarterly distribution?

The record date for the latest quarterly distribution is June 18, 2024.

What is the payment date for SWZ's quarterly distribution?

The payment date for the latest quarterly distribution is June 28, 2024.

What is the annualized distribution rate for SWZ based on the latest announcement?

The annualized distribution rate is 6.00% based on the Fund's NAV as of October 31, 2023.

How does SWZ's managed distribution plan affect shareholders?

The plan aims to provide consistent returns and may reduce the discount to NAV; however, the distribution rate and sources can vary.

Can SWZ's distribution plan be changed or terminated?

Yes, the Board can amend or terminate the plan at any time, which could impact the stock price.