Pacholder High Yield Fund Announces Reduction and Payment of Monthly Dividend
September 14 2016 - 4:00PM
Business Wire
The Pacholder High Yield Fund, Inc. (NYSE MKT: PHF) declared a
dividend of $0.045 per common share payable on September 30, 2016
to shareholders of record on September 28, 2016. The ex-date for
the dividend is September 26, 2016.
The Board of Directors has also authorized the Fund to decrease
the amount of monthly dividends from $0.050 per common share to
$0.045 per common share beginning with the September dividend
described above. From September 2014 until February 2015, the Fund
paid a monthly dividend of $0.053 per common share. From February
2015 until September 2016, the Fund paid a monthly dividend of
$0.050 per common share. The Fund currently anticipates declaring
and paying a monthly dividend of $0.045 per common share, although
there is no guarantee that the Fund will continue to do so and the
declaration and payment of any dividend is subject to market
conditions and the requirement that the Fund maintains certain
asset coverage requirements. The amount of a monthly dividend, if
any, may be more or less than the actual income earned by the Fund
in a given month. The Board will continue to monitor the continuing
appropriateness of the dividend level in light of market conditions
and income earned by the Fund over time. In addition, during the
last quarter of the year, the Board will consider the amount of
undistributed net income remaining, if any, and may declare a
special dividend.
Updated information on the amount of undistributed net income
will continue to be included on the fact sheet available on the
Fund’s website at www.pacholder.com. In the event that market
conditions change such that the Fund does not believe it would be
able to meet its asset coverage requirements and/or is appropriate
to declare or pay a dividend at the rate of $0.045 per common
share, shareholders will be notified.
The Fund is a closed-end diversified management investment
company with a leveraged capital structure. The Fund’s investment
objective is to provide a high level of total return through
current income and capital appreciation. Under normal
circumstances, the Fund invests at least 80% of the value of its
assets in high yield securities. The Fund invests primarily in
fixed income securities of domestic companies. The Fund’s common
stock is traded on the New York Stock Exchange MKT under the symbol
“PHF.”
The information presented here is not intended as a
solicitation. New investors cannot purchase shares directly from
the Fund. Shares are listed on the New York Stock Exchange MKT, and
interested investors should contact their financial advisor or
broker-dealer for more information.
The Fund was organized as a corporation under the laws of
Maryland on August 17, 1988 and has registered with the SEC under
the Investment Company Act of 1940, as amended. The Fund's
principal office is located at 270 Park Avenue, New York, New York
10017. For more information visit us at www.pacholder.com, or call
1-877-217-9502.
The Fund's investment adviser is J.P. Morgan Investment
Management Inc., an investment management firm registered with the
SEC under the Investment Advisers Act of 1940.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20160914006263/en/
Pacholder High Yield Fund, Inc.1-877-217-9502
Pacholder HI Yld (AMEX:PHF)
Historical Stock Chart
From Aug 2024 to Sep 2024
Pacholder HI Yld (AMEX:PHF)
Historical Stock Chart
From Sep 2023 to Sep 2024