SCOTTSDALE,
Ariz., Nov. 15, 2016 /PRNewswire/ -- Voya
Investment Management, the asset management business of Voya
Financial, Inc. (NYSE: VOYA), announced today the monthly
distributions on the common shares of two of its closed-end funds
(each a "Fund" and collectively, the "Funds").
With respect to each Fund, the distribution will be paid
on December 15, 2016, to shareholders
of record on December 5, 2016. The
ex-dividend date is December 1, 2016.
The distribution per share for each Fund is as follows:
Fund
|
Distribution Per Share
|
Voya Global Equity Dividend and Premium Opportunity
Fund (NYSE: IGD)
|
$0.076
|
Voya International High Dividend Equity Income Fund
(NYSE: IID)
|
$0.069
|
Each Fund intends to make regular monthly distributions
based on the past and projected performance of the Fund. The amount
of monthly 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 tax treatment and characterization of a Fund's
distributions may vary significantly from time to time depending on
the net investment income of the Fund and whether the Fund has
realized gains or losses from its options strategy versus gain
or loss realizations in the equity
securities in the portfolio. Each Fund's distributions will
normally reflect past and projected net investment income, and may
include income from dividends and interest, capital gains and/or a
return of capital.
The portion of each Fund's monthly distributions estimated
to come from the Fund's option strategy, for tax purposes, may be
treated as a combination of long-term and short-term capital gains,
and/or a return of capital. The tax character of each Fund's option
strategy is largely determined by movements in, and gain and loss
realizations in the underlying equity portfolio. Under
certain conditions, federal tax regulations may also cause some or
all of the return of capital to be taxed as ordinary income.
The final tax characteristics of the distributions cannot be
determined with certainty until after the end of the calendar year,
and will be reported to shareholders at that time.
IGD estimates that for the current
fiscal year as of October 31, 2016,
approximately 21% of each distribution is characterized as net
investment income, 51% is characterized as short-term capital gain
and 28% is characterized as return of capital.
IID estimates that for the current
fiscal year as of October 31, 2016,
approximately 22% of each distribution is characterized as net
investment income and 78% is characterized as return of
capital.
Shares of closed-end funds often trade at a discount from
their net asset value. The market price of Fund shares may
vary from net asset value based on factors affecting the supply and
demand for shares, such as Fund distribution rates relative to
similar investments, investors' expectations for future
distribution changes, the clarity of the Fund's investment strategy
and future return expectations, and investors' confidence in the
underlying markets in which the Fund invests. Fund shares are
subject to investment risk, including possible loss of principal
invested. No Fund is a complete investment program and you
may lose money investing in a Fund. An investment in a Fund
may not be appropriate for all investors. Before investing,
prospective investors should consider carefully the Fund's
investment objective, risks, charges and expenses.
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 September 30,
2016, more than $208 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.
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SOURCE Voya Investment Management