Board Approves Liquidation of Voya International High Dividend Equity Income Fund

Rhea-AI Summary

The Board of Trustees of Voya International High Dividend Equity Income Fund (IID) has announced a Plan of Liquidation and Termination, effective March 31, 2021. Following this date, the Fund will liquidate its assets, settle unpaid liabilities, and make cash distributions to common shareholders, with the final distribution expected around April 5, 2021. Trading of the Fund's shares on the NYSE will cease before the start of business on April 1, 2021. Investors should expect additional details regarding the liquidation process in due course.

Positive

• The Fund is set to provide liquidating distributions to common shareholders, offering a cash return.
• The Fund's management has a significant history and expertise in asset management.

Negative

• The suspension of trading on the NYSE indicates a complete termination of the Fund's operations.
• Shareholders may face uncertainty regarding the total amount of liquidating distributions.

The Board of Trustees (“the Board”) of Voya International High Dividend Equity Income Fund (the “Fund”) (NYSE: IID) has approved a Plan of Liquidation and Termination for the Fund. The Plan of Liquidation and Termination is expected to take effect on or about March 31, 2021.

Subsequent to the effectiveness of the Fund’s Plan of Liquidation and Termination, the Fund will determine and pay, or set aside in cash or cash equivalents, in an amount that it estimates is necessary to discharge any unpaid liabilities and obligations of the Fund, and make one or more liquidating distributions to the Fund’s common shareholders. Leading up to the final distribution date, as the Fund begins to transition its portfolio in anticipation of making its liquidating distributions, the Fund may deviate from its investment objectives and policies.

The Fund has fixed the close of business on March 31, 2021 as the effective date for determining the common shareholders of the Fund entitled to receive liquidating distributions. As of that time, the share transfer books of the Fund will be closed. The trading of the Fund’s shares on the New York Stock Exchange will be suspended effective before the open of business on April 1, 2021. The Fund’s liquidating distributions will be paid in cash. The Fund expects to make one or more liquidating or other distributions to common stockholders on or about April 5, 2021. Additional details with respect to the Fund’s liquidation will be provided as they become available.

The Fund is a closed-end U.S.-registered management investment company advised by Voya Investments, LLC and sub-advised by Voya Investment Management Co. LLC.

About Voya^® Investment Management

A leading, active asset management firm, Voya Investment Management manages, as of September 30, 2020, approximately $247 billion for affiliated and external institutions as well as individual investors. With more than 40 years of history in asset management, Voya Investment Management has the experience and resources to provide clients with investment solutions with an emphasis on equities, fixed income, and multi-asset strategies and solutions. Voya Investment Management was named in 2015, 2016, 2017, 2018, 2019, and 2020 as a “Best Places to Work” by Pensions and Investments magazine. For more information, visit voyainvestments.com. Follow Voya Investment Management on Twitter @VoyaInvestments.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210114005912/en/

FAQ

What is the liquidating distribution date for Voya International High Dividend Equity Income Fund?

Liquidating distributions are expected to be paid on or about April 5, 2021.

When will trading of IID shares be suspended?

Trading of IID shares will be suspended before the open of business on April 1, 2021.

What is the effective date for the liquidation plan of IID?

The effective date for the liquidation plan is March 31, 2021.

Will common shareholders receive cash distributions from IID?

Yes, common shareholders will receive cash distributions as part of the liquidation.