CORRECTING and REPLACING Clough Global Allocation Fund Announces Increase in Its Quarterly Cash Distribution to $0.46 Per Share
December 20 2007 - 6:57PM
Business Wire
Headline of release should read: "Clough Global Allocation Fund
Announces Increase in Its Quarterly Cash Distribution to $0.46 Per
Share and Declares a Long-Term Capital Gain Distribution of $0.730
Per Share" (sted "...Long-Term Capital Gain Distribution of $0.80
Per Share"). Also, the first graph, second sentence, and the "Per
share amount" under the table column "Long-Term Capital Gain
Distribution," should read: $0.730 (sted $0.80). The corrected
release reads: CLOUGH GLOBAL ALLOCATION FUND ANNOUNCES INCREASE IN
ITS QUARTERLY CASH DISTRIBUTION TO $0.46 PER SHARE AND DECLARES A
LONG-TERM CAPITAL GAIN DISTRIBUTION OF $0.730 PER SHARE Today, the
Clough Global Allocation Fund (AMEX: GLV) announced an increase in
its quarterly cash distribution to $0.46 per common share, which
represents a current yield of approximately 7.7% of the Fund�s net
asset value and 8.8% of the Fund�s market price. The Fund also
declared today a long-term capital gain of $0.730 per share. The
long-term capital gain is being paid in addition to the Fund�s
regular quarterly dividend to allow the Fund to meet its 2007
distribution requirement for federal excise tax purposes.
Distribution type: � Quarterly Cash Distribution � Long-Term
Capital Gain Distribution Per share amount � $0.46 � $0.730 Ex-Date
� December 27, 2007 � December 27, 2007 Record Date � December 31,
2007 � December 31, 2007 Payable Date � January 15, 2008 � January
3, 2008 The Fund has approximately $384 million in total assets,
the net asset value was $23.76 per share and the market price was
$20.80 as of December 19, 2007. Subject to market conditions, the
Fund intends to distribute subsequent regular quarterly cash
distributions. A portion of the distribution may be treated as paid
from sources other than net income, including but not limited to
short-term capital gain, long-term capital gain and return of
capital. The final determination of the source of all distributions
in 2007 and 2008, including the percentage of qualified dividend
income, will be made after year-end. The Clough Global Allocation
Fund The Fund is a closed-end fund with an investment objective of
providing a high level of total return. It intends to achieve this
objective by applying a fundamental research-driven investment
process, investing in equity and equity-related securities, as well
as fixed income securities, including both corporate and sovereign
debt in both U.S. and non-U.S. markets. More information on the
Clough Global Allocation Fund, including the Fund�s dividend
reinvestment plan, can be found at www.cloughglobal.com or call
877-256-8445. Clough Capital Partners L.P. Clough is a Boston-based
investment advisory firm which manages approximately $3.3 billion
in assets: Over $550 million in hedge fund and institutional
accounts and $2.7 billion in three closed-end funds � Clough Global
Allocation (GLV), Clough Global Equity (GLQ), and the Clough Global
Opportunities Fund (GLO). The firm uses a global and theme-based
approach and invests in securities on a global basis. Clough was
founded in 2000 by Chuck Clough and partners James Canty and Eric
Brock. These three are the portfolio managers for the Clough Global
Allocation Fund. An investor should consider investment objectives,
risks, charges and expenses carefully before investing. To obtain a
prospectus which contains this and other information visit
www.cloughglobal.com or call 877-256-8445. Read the prospectus
carefully before investing. The Clough Global Allocation Fund is a
closed-end fund and closed-end funds do not continuously issue
shares for sale as open-end mutual funds do. Since the initial
public offering, the Fund now trades in the secondary market.
Investors wishing to buy or sell shares need to place orders
through an intermediary or broker. The share price of a closed-end
fund is based on the market's value.
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