The Herzfeld Caribbean Basin Fund, Inc. Declares $1.14 per Share Year-End Distribution Payable in Stock
November 14 2013 - 5:01PM
Marketwired
The Herzfeld Caribbean Basin Fund, Inc. Declares $1.14 per Share
Year-End Distribution Payable in Stock
MIAMI, FL--(Marketwired - Nov 14, 2013) - The Board of Directors
of The Herzfeld Caribbean Basin Fund, Inc. (NASDAQ: CUBA) declared
a year-end distribution of $1.14 per share, payable on January 7,
2014 to stockholders of record December 6, 2013.
The Fund estimates that the distribution consists of $1.13 from
long-term capital gains and $0.01 from short-term capital gains,
although the final determination of the tax status will be made
after the end of 2013. The distribution is taxable to
stockholders for the calendar year 2013.
The distribution will be payable in Fund shares unless the
stockholder elects to receive cash. Currently, the market
price per share of the common stock is trading at a discount to NAV
but has at times traded at a premium to NAV. If the market
price per share of common stock, on the payment date, is equal to
or exceeds the NAV ("trading at a premium"), the distribution will
be payable to stockholders in newly issued Shares valued at the
greater of (1) NAV or (2) 95% of the then-current market price of
the Shares. If the NAV on the payment date exceeds the market
price of the Shares at the time ("trading at a discount"), the
distribution will be payable to stockholders in Shares valued at
the market price (as defined in the Fund's Dividend Reinvestment
Plan).
Including this distribution, The Herzfeld Caribbean Basin Fund,
Inc. will have paid a total of $5.58 per share in distributions
since the Fund's inception in 1994.
About The Herzfeld
Caribbean Basin Fund, Inc.
The Herzfeld Caribbean Basin Fund, Inc. is a closed-end fund
managed by HERZFELD/CUBA a division of Thomas J. Herzfeld Advisors,
Inc. (based in Miami). The Fund seeks long-term capital
appreciation. To achieve its objective the Fund invests in
issuers that are likely, in the Advisor's view, to benefit from
economic, political, structural and technological developments in
the countries in the Caribbean Basin, which the Fund considers to
consist of Cuba, Jamaica, Trinidad and Tobago, the Bahamas, the
Dominican Republic, Barbados, Aruba, Haiti, the Netherlands
Antilles, the Commonwealth of Puerto Rico, Mexico, Honduras,
Guatemala, Belize, Costa Rica, Panama, Colombia, Venezuela and the
United States.
Thomas J. Herzfeld Advisors, Inc. specializes in the field of
closed-end funds. Information about the advisor and the Fund
can be found at www.herzfeld.com.
Nasdaq Capital Market: CUBA Cusip: 42804T106
For further information contact: Cecilia L. Gondor 305-271-1900
Thomas J. Herzfeld Advisors, Inc. 119 Washington Avenue, Suite 504
Miami Beach, FL 33139 www.herzfeld.com
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