NEW YORK, March 29, 2018 /PRNewswire/ -- Neuberger
Berman High Yield Strategies Fund Inc. (NYSE American: NHS) (the
"Fund") has announced a decrease in its monthly distribution rate
and declared its next monthly distribution at the new rate. The
Fund's next monthly distribution is payable on April 30, 2018, with a record date of
April 16, 2018 and an ex-date of
April 13, 2018.
NHS decreased its monthly distribution rate to $0.0658 per share of common stock from the prior
monthly distribution rate of $0.0725
per share. NHS's annual distribution per share of common
stock is now $0.7896 versus the prior
annual amount of $0.87. The new
distribution rate represents an annualized distribution rate of
approximately 6.21% per share of common stock based on the Fund's
net asset value of $12.71 per share
on March 28, 2018.
The Fund's decrease in distribution rate is the result of
numerous factors, including the decline in the absolute level of
yields available in the high yield market, the degree of credit
spread tightening that has occurred in the high yield market, the
increase in the Fund's cost of leverage and the resultant overall
reduction in the level of income generated by the Fund relative to
its current distribution amount.
In an effort to maintain a stable distribution amount, the
distribution declared, as well as future distributions, may consist
of net investment income, realized capital gains and return of
capital. In compliance with Section 19 of the Investment Company
Act of 1940, as amended, a notice would be provided for any
distribution that does not consist solely of net investment income.
This notice would be for informational purposes, and would
disclose, among other things, estimated portions of the
distributions, if any, consisting of net investment income, capital
gain and return of capital.
About Neuberger Berman
Neuberger Berman, founded in 1939, is a private, independent,
employee-owned investment manager. The firm manages a range of
strategies—including equity, fixed income, quantitative and
multi-asset class, private equity and hedge funds—on behalf of
institutions, advisors and individual investors globally. With
offices in 20 countries, Neuberger Berman's team is approximately
1,900 professionals. For five consecutive years, the company has
been named to Pensions & Investments Best Places to Work
in Money Management survey (among those with 1,000 employees or
more). Tenured, stable and long-term in focus, the firm fosters an
investment culture of fundamental research and independent
thinking. It manages $295 billion in
client assets as of December 31,
2017. For more information, please visit our website at
www.nb.com.
Statements made in this release that look forward in time
involve risks and uncertainties. Such risks and uncertainties
include, without limitation, the adverse effect from a decline in
the securities markets or a decline in the Fund's performance, a
general downturn in the economy, competition from other closed end
investment companies, changes in government policy or regulation,
inability of the Fund's investment adviser to attract or retain key
employees, inability of the Fund to implement its investment
strategy, inability of the Fund to manage rapid expansion and
unforeseen costs and other effects related to legal proceedings or
investigations of governmental and self-regulatory
organizations.
Contact:
Neuberger Berman Investment Advisers
LLC
Investor Information
(877) 461-1899
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