Neuberger Berman Income Opportunity Fund Announces Special Distribution in Anticipation of Its Pending Reorganization
July 23 2010 - 6:12PM
Business Wire
Neuberger Berman Income Opportunity Fund Inc. (NYSE Amex: NOX)
has announced a special distribution of $0.0583 per share of common
stock (the “Special Distribution”) in anticipation of its pending
reorganization into Neuberger Berman High Yield Strategies Fund
Inc. The Special Distribution is payable on August 4, 2010, has a
record date of August 2, 2010 and an ex-date of July 29, 2010.
The Fund will pay the Special Distribution to comply with the
Federal tax laws. The Special Distribution is in addition to the
Fund’s previously declared regular monthly distribution, which is
payable on July 30, 2010. As previously announced, the Fund
currently anticipates that the reorganization will be completed
during the third quarter of 2010 and will issue another press
release setting forth the timing and details of the closing.
The Special Distribution may consist of net investment income,
realized capital gains and/or return of capital. In compliance with
Section 19 of the Investment Company Act of 1940, as amended, a
notice would be provided for any distribution that does not consist
solely of net investment income. This notice would be for
informational purposes, and would disclose, among other things,
estimated portions of the distributions, if any, consisting of net
investment income, capital gain and return of capital.
About Neuberger Berman
Neuberger Berman Group LLC is one of the world’s leading
private, independent, employee-controlled asset management
companies. As of June 30, 2010, assets under management were
approximately $169 billion. Established in 1939, Neuberger Berman
is a leader in a broad range of global investment solutions –
equity, fixed income, and alternatives – to institutions and
individuals through customized separately managed accounts, mutual
funds and alternative investment products. For more information
please visit our website at www.nb.com.
Statements made in this release that look forward in time
involve risks and uncertainties and are forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995. Such risks and uncertainties include, without limitation,
the adverse effect from a decline in the securities markets or a
decline in a Fund’s performance, a general downturn in the economy,
competition from other closed-end investment companies, changes in
government policy or regulation, inability of a Fund’s investment
adviser to attract or retain key employees, inability of a Fund to
implement its investment strategy, inability of a Fund to manage
rapid expansion and unforeseen costs and other effects related to
legal proceedings or investigations of governmental and
self-regulatory organizations.
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