Deutsche High Income Opportunities Fund, Inc. Announces Extension of Share Repurchase Program
September 21 2016 - 5:00PM
Business Wire
Deutsche High Income Opportunities Fund, Inc. (NYSE:DHG) (the
“Fund”) announced today that the Fund’s Board of Directors has
extended the Fund’s existing open market share repurchase program
for an additional twelve-month period. The Fund may continue to
purchase an aggregate of up to 5% of the Fund’s outstanding shares
of common stock in open-market transactions over the period from
December 1, 2016 until November 30, 2017 when the Fund’s shares
trade at a discount to net asset value (“NAV”). The amount and
timing of the repurchases will be at the discretion of Deutsche
Investment Management Americas Inc. (“DIMA”), the Fund’s investment
adviser, and subject to market conditions and investment
considerations. DIMA will seek to purchase shares at prices that
will be accretive to the Fund’s NAV.
The Board’s authorization of the repurchase program extension
follows the previous repurchase program, which commenced on
December 1, 2015 and runs until November 30, 2016. The Board will
monitor the impact of the share repurchase program on the discount
and may consider, from time to time, additional or alternative
measures to address the discount that may be appropriate in the
future. In doing so, it will also continue to monitor the effects
of the repurchase program and may consider the potential impact of
such other measures on the Fund’s expense ratio, its portfolio
turnover, and its ability to achieve its objectives. Results of
repurchases under the program for the year ended September 30, 2016
will be available in the Fund’s upcoming Annual Report to
Stockholders.
Important Information
Deutsche High Income Opportunities Fund, Inc. seeks high
current income with a secondary objective of total return. The Fund
pursues its investment objectives by investing primarily in
securities designed to generate income, with the potential for
capital appreciation being a secondary consideration. The
Fund may invest in a broad range of income-producing securities,
including, but not limited to, domestic and foreign debt securities
of any credit quality or maturity (including below investment grade
debt securities and debt securities of issuers located in countries
with new or emerging securities markets), convertible securities
(including convertible bonds), dividend-paying common stocks,
preferred stocks, and securities of real estate investment trusts
(“REITS”), energy trusts and other investment companies. The
Fund may invest in debt securities not paying interest currently
and securities in default. In addition, the Fund may invest
in senior bank loans, including bank loan participations and
assignments. The Fund may buy or sell protection on credit exposure
and may also purchase securities on a when-issued basis and engage
in short sales. The Fund may invest in cash or money market
instruments in the event portfolio management determines that
securities meeting the Fund’s investment objectives are not readily
available for purchase. Future earnings of the Fund cannot be
guaranteed and the Fund's dividend policy is subject to change. Any
fund that concentrates in a particular segment of the market will
generally be more volatile than a fund that invests more broadly.
Bond investments are subject to interest-rate, credit, liquidity
and market risks to varying degrees. When interest rates rise, bond
prices generally fall. Credit risk refers to the ability of an
issuer to make timely payments of principal and interest.
Investments in lower-quality (“junk bonds”) and non-rated
securities present greater risk of loss than investments in
higher-quality securities. There are special risks associated with
an investment in real estate, including REITs. These risks include
credit risk, interest rate fluctuations and the impact of varied
economic conditions. Stocks may decline in value. Investing in
foreign securities presents certain risks, such as currency
fluctuations, political and economic changes, and market risks.
Investing in derivatives entails special risks relating to
liquidity, leverage and credit that may reduce returns and/or
increase volatility. Leverage results in additional risks and can
magnify the effect of any gains or losses.
Closed-end funds, unlike open-end funds, are not continuously
offered. There is a one-time public offering and once issued,
shares of closed-end funds are bought and sold in the open market
through a stock exchange. Shares of closed-end funds frequently
trade at a discount to the net asset value. The price of a 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.
Past performance is no guarantee of future results.
This press release shall not constitute an offer to sell or a
solicitation to buy, nor shall there be any sale of these
securities 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.
Certain statements contained in this release may be
forward-looking in nature. These include all statements relating to
plans, expectations, and other statements that are not historical
facts and typically use words like “expect,” “anticipate,”
“believe,” “intend,” and similar expressions. Such statements
represent management’s current beliefs, based upon information
available at the time the statements are made, with regard to the
matters addressed. All forward-looking statements are subject to
risks and uncertainties that could cause actual results to differ
materially from those expressed in, or implied by, such statements.
Management does not undertake any obligation to update or revise
any forward-looking statements, whether as a result of new
information, future events, or otherwise.
NOT FDIC/ NCUA INSURED • MAY LOSE VALUE • NO
BANK GUARANTEENOT A DEPOSIT • NOT INSURED BY ANY FEDERAL
GOVERNMENT AGENCY
Deutsche Asset Management represents the asset management
activities conducted by Deutsche Bank AG or any of its
subsidiaries. R-048082-1 (9/16)
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version on businesswire.com: http://www.businesswire.com/news/home/20160921006529/en/
For additional
information:Deutsche Bank Press Office (212)
250-7171Shareholder Account Information (800)
294-4366Deutsche Closed-End Funds (800) 349-4281
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