Pacholder High Yield Fund Announces Voluntary Redemption of All Remaining 30 Outstanding Shares of Auction Rate Preferred Sha...
November 18 2016 - 5:16PM
Business Wire
The Pacholder High Yield Fund, Inc. (NYSE MKT: PHF) announced
that it is redeeming all remaining 30 outstanding shares of its
Auction Rate Cumulative Preferred Stock, Series W (the “Preferred
Shares”) on December 22, 2016 (the “Redemption Date”). The
Preferred Shares will be redeemed pursuant to and in accordance
with Part I, Section 2(a)(i) of the Articles Supplementary.
Shareholders will receive the liquidation preference of $25,000 per
Preferred Share redeemed plus an amount equal to any accumulated
but unpaid dividends, if applicable (the “Redemption Price”). The
amount owed to Preferred Shareholders as a result of the redemption
of the Preferred Shares will be credited to the record holder of
the Preferred Shares. No further dividends will accumulate on the
redeemed Preferred Shares on or after the Redemption Date.
The Fund is a closed-end diversified management investment
company with a leveraged capital structure. The Fund’s investment
objective is to provide a high level of total return through
current income and capital appreciation. Under normal
circumstances, the Fund invests at least 80% of the value of its
assets in high yield securities. The Fund invests primarily in
fixed income securities of domestic companies. The Fund’s common
stock is traded on the New York Stock Exchange MKT under the symbol
“PHF.”
The information presented here is not intended as a
solicitation. New investors cannot purchase shares directly from
the Fund. Shares are listed on the New York Stock Exchange MKT, and
interested investors should contact their financial advisor or
broker-dealer for more information.
The Fund was organized as a corporation under the laws of
Maryland on August 17, 1988 and has registered with the SEC under
the Investment Company Act of 1940, as amended. The Fund's
principal office is located at 270 Park Avenue, New York, New York
10017. For more information visit us at www.pacholder.com, or call
1-877-217-9502.
The Fund's investment adviser is J.P. Morgan Investment
Management Inc., an investment management firm registered with the
SEC under the Investment Advisers Act of 1940.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20161118005767/en/
Pacholder High Yield Fund, Inc.1-877-217-9502
Pacholder HI Yld (AMEX:PHF)
Historical Stock Chart
From Mar 2024 to Apr 2024
Pacholder HI Yld (AMEX:PHF)
Historical Stock Chart
From Apr 2023 to Apr 2024
