Clough Global Dividend and Income Fund Announces Fund Distribution Rate Change and Declares Monthly Cash Distribution
August 08 2016 - 9:30AM
Business Wire
The Board of Trustees (the "Board") of Clough Global Dividend
and Income Fund (the “Fund”) has voted to change the monthly
distribution rate of the Fund from $0.120 per common share to
$0.1032 per common share and declare the monthly cash distribution
of $0.1032 per common share, payable on the dates noted below. The
Fund has approximately $281 million in total assets, the net asset
value was $14.36 per share and the market price was $11.99 as of
August 4, 2016.
The following dates apply to the distributions declared:
Ex-Date: August 17, 2016Record Date: August 19, 2016Payable
Date: August 31, 2016
Ex-Date: September 14, 2016Record Date: September 16,
2016Payable Date: September 30, 2016
Ex-Date: October 17, 2016Record Date: October 19, 2016Payable
Date: October 31, 2016
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, including the percentage of qualified dividend
income, will be made after year-end.
Chuck Clough, a portfolio manager for the Fund and the founder
of Clough Capital Partners L.P., the Fund’s adviser (“Clough
Capital”), notes that “the Fund’s decision to reduce the dividend
is intended to better align the Fund’s distribution rates with
current market dynamics, which present a low return, low interest
rate environment. Consistent with the Fund’s investment policies,
we continue to seek investments across the globe that generally
offer both an attractive dividend yield and capital appreciation
potential. Management has also made a concerted effort and
continues to take significant steps toward lowering the total
expense ratio of the Fund.”
The Clough Global Dividend and Income Fund
The Fund is a closed-end fund with an investment objective of
providing a high level of total return. With analysts in Boston and
Hong Kong, the Clough Global Dividend and Income Fund seeks to
pursue this objective by applying a fundamental research-driven
investment process and will invest 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 Dividend and Income 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 $3.4 billion in assets: $1.3 billion in hedge fund
and institutional accounts; $101 million in open-end mutual funds;
and $2.0 billion in three closed-end funds (as of June 30, 2016) –
Clough Global Dividend and Income (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 Dividend and Income Fund, as well as
Robert Zdunczyk.
An investor should consider investment objectives, risks,
charges and expenses carefully before investing. To obtain a
prospectus, annual report or semi-annual report which contains this
and other information visit www.cloughglobal.com or
call 877-256-8445. Read them carefully before investing.
The Clough Global Dividend and 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 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.
Forward-looking statements are based on information that is
available on the date hereof, and neither the fund manager nor any
other person affiliated with the fund manager has any duty to
update any forward-looking statements. Important factors that could
affect actual results to differ from these statements include,
among other factors, material, negative changes to the asset class
and the actual composition of the portfolio.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20160808005125/en/
Clough Capital Partners L.P.Tom Carter, ALPS,
+1-303-623-2577orFund Services Group, 877-256-8445
Clough Global Dividend a... (AMEX:GLV)
Historical Stock Chart
From May 2024 to Jun 2024
Clough Global Dividend a... (AMEX:GLV)
Historical Stock Chart
From Jun 2023 to Jun 2024