Voya Global Advantage & Premium Opportunity Fund Announces Adoption of a Managed Distribution Policy & Declares Quarterly Dis...
September 23 2019 - 4:30PM
Business Wire
Voya Investment Management, the asset management business of
Voya Financial, Inc. (NYSE: VOYA), announced today the quarterly
distribution on the common shares of Voya Global Advantage and
Premium Opportunity Fund (NYSE: IGA) (the “Fund”).
The Fund distribution announced today is a change from
distributions paid in prior periods and is implemented in an effort
to align the Funds’ distributions with the long-term market
environment. The Funds' management considered a number of factors
before deciding to change the Fund's distribution, including
general market outlook, the dividend yield expectations of the
underlying equity portfolios and prevailing implied option
volatilities.
The Fund also announced that the Fund’s Board of Trustees (the
“Board”) adopted a managed distribution policy (the “Plan”). This
press release is issued as required by the Fund’s Plan and an
exemptive order received from the U.S. Securities and Exchange
Commission. The Board has approved the implementation of the Plan
to make quarterly cash distribution to common shareholders, stated
in terms of a fixed amount per common share.
With respect to the Fund, the distribution will be paid on
October 15, 2019, to shareholders of record on October 2, 2019. The
ex-dividend date is October 1, 2019. The distribution per share for
the Fund is $0.197. This is a decrease of $0.028 from prior
periods.
The Fund intends to make regular quarterly distributions based
on the past and projected performance of the Fund. The amount of
quarterly distributions may vary, depending on a number of factors.
As portfolio and market conditions change, the rate of
distributions on the common shares may change. There can be no
assurance that a Fund will be able to declare a distribution in
each period. Past performance is no guarantee of future
results.
The following information is required under the Fund’s Plan and
sets forth an estimate of the sources of the Fund’s distribution
paid July 15, 2019 and distributions paid fiscal year to date.
Amounts are expressed on a per common share basis and as a
percentage of the distribution amount.
Voya
Global Advantage and Premium Opportunity Fund
Source
July Distribution
% of July Distribution
Cumulative Distributions paid
Fiscal Year-to-Date
% of the Cumulative Distributions
paid Fiscal Year-to-Date1
Net Investment Income
$ 0.094
42%
$ 0.148
33%
Net Realized Short-Term Capital Gains
$ 0.000
0%
$ 0.000
0%
Net Realized Long-Term Capital Gains
$ 0.000
0%
$ 0.000
0%
Return of Capital or Other Capital
Source(s)
$ 0.131
58%
$ 0.302
67%
Total per common share
$ 0.225
100%
$ 0.450
100%
- The Fund’s current fiscal year is March 1, 2019 to February 28,
2020.
IMPORTANT DISCLOSURE: You should not draw any conclusions
about the Fund’s investment performance from the amount of this
distribution or from the terms of the Fund’s Plan. The Fund
estimates that it has distributed more than its income and net
realized capital gains; therefore, a portion of your distribution
may be a return of capital. A return of capital may occur for
example, when some or all of the money that you invested in the
Fund is paid back to you. A return of capital distribution does not
necessarily reflect the Fund’s investment performance and should
not be confused with ‘yield’ or ‘income.’ The amounts and sources
of distributions reported in this Press Release are only estimates
and are not being provided for tax reporting purposes. The actual
amounts and sources of the amounts for tax reporting purposes will
depend upon the Fund’s investment experience during the remainder
of its fiscal year and may be subject to changes based on tax
regulations. The Fund will send you a Form 1099-DIV for the
calendar year that will tell you how to report these distributions
for federal income tax purposes.
Set forth in the table below is information relating to the
Fund’s performance based on its net asset value (NAV) for certain
periods.
Average annual total return at NAV for the
five year period ended on June 30, 20191
6.72%
Annualized current distribution rate
expressed as a percentage of NAV as of June 30, 20192
7.81%
Cumulative total return at NAV for the
fiscal year through June 30, 20193
3.00%
Cumulative fiscal year to date
distribution rate as a percentage of NAV as of June 30, 20194
1.95%
1
Average annual total return at NAV
represents the compound average of the annual NAV total returns of
the Fund for the five-year period ended on June 30, 2019.
2
The annualized current distribution rate
is the cumulative distribution rate annualized as a percentage of
the Fund’s NAV as of June 30, 2019.
3
Cumulative total return at NAV is the
percentage change in the Fund’s NAV for the period from the
beginning of its fiscal year to June 30, 2019 including
distributions paid and assuming reinvestment of those
distributions.
4
Cumulative fiscal year distribution rate
for the period from the year-to-date period as a percentage of the
Fund’s NAV as of June 30, 2019.
Certain statements made on behalf of the Funds in this release
are forward-looking statements. The Funds actual future results may
differ significantly from those anticipated in any forward-looking
statements due to numerous factors, including but not limited to a
decline in value in equity markets in general or the Funds'
investments specifically. Neither the Funds nor Voya Investment
Management undertake any responsibility to update publicly or
revise any forward-looking statement.
This information should not be used as a basis for legal and/or
tax advice. In any specific case, the parties involved should seek
the guidance and advice of their own legal and tax counsel.
About Voya Investment Management
A leading, active asset management firm, Voya Investment
Management manages, as of June 30, 2019, approximately $220 billion
for affiliated and external institutions as well as individual
investors. With 40 years of history in asset management, Voya
Investment Management has the experience and resources to provide
clients with investment solutions with an emphasis on equities,
fixed income, and multi-asset strategies and solutions. For more
information, visit voyainvestments.com. Follow Voya Investment
Management on Twitter @VoyaInvestments.
SHAREHOLDER INQUIRIES: Shareholder Services at (800) 992-0180;
voyainvestments.com
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Kris Kagel, (212) 309-6568
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