Diamond Hill Financial Trends Fund, Inc. Announces Distribution
December 10 2009 - 4:15PM
PR Newswire (US)
COLUMBUS, Ohio, Dec. 10 /PRNewswire-FirstCall/ -- Diamond Hill
Financial Trends Fund, Inc. (NASDAQ:DHFT) announced today that the
fund will pay an income dividend as follows: Dividend per Share:
$0.12 Declaration Date: December 10, 2009 Record Date: December 21,
2009 Payable Date: December 28, 2009 2010 Expense Ratio
Information: The Fund's Investment Advisor, Diamond Hill Capital
Management, Inc., ("DHCM") has been operating under an expense
limitation agreement, under which they agreed to waive their fees
in order to keep the Fund's total operating expense ratio to no
more than 1.15%. This agreement expires on January 3, 2010. The
Board of Directors has approved a new expense limitation
arrangement upon the expiration of the previous agreement. Under
the terms of the new arrangement, DHCM has agreed to waive its
investment advisory fees to maintain a total operating expense
ratio no greater than 1.59% subject to a maximum waiver of 0.15%.
This new expense limitation arrangement will continue until
December 31, 2010. Based on the Fund's current net assets of $40
million, management estimates the total operating expense ratio for
2010 to be between 1.20% and 1.40%. Operating expenses exclude
investment related expenses, such as dividend expense on securities
held short. The total operating expense ratio can fluctuate
significantly as assets fluctuate, so actual expenses for 2010
could be higher or lower than management's estimate. About the
Fund: The Fund's primary objective is to seek long-term capital
appreciation by investing in companies selling for less than and
shorting companies selling for more than our appraisal of intrinsic
value. Current income is a secondary objective. The Fund invests at
between 80% and 115% of its assets long and sells short between 0%
and 30% of its assets in stocks of U.S. financial services
companies of any size. About Diamond Hill: Diamond Hill Capital
Management, Inc. provides investment management services to
institutions and financial intermediaries seeking to preserve and
build wealth. The firm currently manages mutual funds, separate
accounts and private investment funds. For more information on
Diamond Hill, visit http://www.diamond-hill.com/. DATASOURCE:
Diamond Hill Financial Trends Fund, Inc. CONTACT: Investor Contact:
James F. Laird, President, +1-614-255-3353, , for Diamond Hill Web
Site: http://www.diamond-hill.com/
Copyright
Diamond Hill Finl (MM) (NASDAQ:DHFT)
Historical Stock Chart
From May 2024 to Jun 2024
Diamond Hill Finl (MM) (NASDAQ:DHFT)
Historical Stock Chart
From Jun 2023 to Jun 2024