NEW YORK, Oct. 23, 2019 /PRNewswire/ -- Stone Harbor
Emerging Markets Income Fund ("the Fund"), which is traded
on the New York Stock Exchange under the symbol "EDF", announced
the declaration of monthly distributions of $0.18 per common share, payable on the dates
noted below. Based on the Fund's current share price of
$13.03 and net asset value per share
of $9.15 (as of close on October 22, 2019), the distributions represent an
annualized distribution rate of 16.58% and 23.61% respectively.
The following dates apply to the distributions declared:
Ex-Distribution Date
|
Record Date
|
Payable Date
|
November 7,
2019
|
November 8,
2019
|
November 21,
2019
|
December 12,
2019
|
December 13,
2019
|
December 26,
2019
|
January 16,
2020
|
January 17,
2020
|
January 30,
2020
|
This press release is not for tax reporting purposes but is
being provided to announce the amount of the Fund's distributions
that have been declared by the Board of Directors. In early 2020
and 2021, after definitive information is available, the Fund will
send shareholders a Form 1099-DIV, if applicable, specifying how
the distributions paid by the Fund during the prior calendar year
should be characterized for purposes of reporting the distributions
on a shareholder's tax return (e.g., ordinary income, long-term
capital gain or return of capital).
The Fund is a non-diversified, closed-end management
investment company that is managed by Stone Harbor Investment
Partners LP ("Stone Harbor"). The
Fund's primary investment objective is to maximize total return,
which consists of income on its investments and capital
appreciation. There is no assurance that the Fund will
achieve its investment objective.
The Fund seeks to achieve its investment objective by
investing at least 80% of its net assets (plus borrowings for
investment purposes) in emerging markets securities ("the 80%
policy"), which include fixed income securities and other
instruments, including derivatives, that are economically tied to
emerging market countries, that are denominated in the predominant
currency of the local market of an emerging market country or whose
performance is linked to those countries' markets, currencies,
economies or ability to repay loans. A security or instrument
is economically tied to an emerging market country if it is
principally traded on the country's securities markets or if the
issuer is organized or principally operates in the country, derives
a majority of its income from its operations within the country or
has a majority of its assets within the country.
Stone Harbor Investment Partners LP is a global institutional
fixed income investment manager, specializing in credit and asset
allocation strategies. The firm's investment strategies are based
on fundamental insights, derived from a combination of proprietary
research and the in-depth knowledge and specialized experience of
the firm's team. Based in New
York, Stone Harbor employs
approximately 115 people across its headquarters and offices in
Chicago, London, Melbourne and Singapore. Founded in 2006, Stone Harbor is an employee-owned partnership
with approximately $21.9 billion of
assets under management as of September 30,
2019. For more information, please visit Stone Harbor's website at
www.shiplp.com.
For more complete information, please call 877.206.0791
(toll-free) or visit the Fund's website -
www.shiplpcef.com.
The Stone Harbor Emerging Markets Income Fund is a closed-end
fund and closed-end funds do not continuously issue shares for sale
as open-end mutual funds do. Since its initial public offering, the
Fund has traded on the New York Stock Exchange under the symbol
EDF. Investors wishing to buy or sell shares need to place orders
through an intermediary or broker.
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SOURCE Stone Harbor Emerging Markets Income Fund