Managed High Yield Plus Fund Inc. -- Dividend Declaration and Portfolio Statistics
11 July 2006 - 6:30AM
Business Wire
Managed High Yield Plus Fund Inc. (NYSE: HYF), a closed-end
management investment company, today announced that the Fund's
Board of Directors has declared a dividend from net investment
income of $0.0450 per share. The dividend is payable on July 31,
2006 to shareholders of record as of July 20, 2006. The ex-dividend
date is July 18, 2006. Managed High Yield Plus Fund Inc. seeks high
income and, secondarily, capital appreciation, primarily through
investments in lower-rated, income producing debt and related
equity securities. -0- *T Portfolio statistics as of June 30,
2006:(1) Top ten holdings, including coupon and maturity Percentage
of total portfolio assets
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Levi Strauss & Co., 12.250% 12/15/12 1.9% Wheeling Island
Gaming, 10.125% 12/15/09 1.6 Mediacom Broadband LLC, 11.000%
07/15/13 1.6 American Cellular Corp, 10.000% 08/01/11 1.5 Mission
Energy Holding Co., 13.500% 07/15/08 1.4 Terra Capital, Inc.,
12.875% 10/15/08 1.4 Sheridan Acquisition Corp, 10.250% 08/15/11
1.3 Insight Midwest, 10.500% 11/01/10 1.3 Omnova Solutions, Inc.,
11.250% 06/01/10 1.3 Bluewater Finance Ltd., 10.250% 02/15/12 1.3
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Total 14.6% Yields(2)
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NAV yield 11.4% Market yield 11.4% Portfolio statistics as of June
30, 2006, continued(1) Top five sectors Percentage of total
portfolio assets
----------------------------------------------------------------------
Gaming 8.6% Chemicals 8.2 Printing & Publishing 6.8
Telecommunications 6.2 Building Materials 5.2
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Total 35.0% Credit quality(3)
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Ba/BB and higher 5.0% B/B 69.8 Caa/CCC and lower 22.8 Not rated 0.7
Equity/preferred 0.2 Cash and cash equivalents 1.5
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Total 100.0% Other characteristics
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Net asset value(2) $4.73 Market price(2) $4.75 Weighted average
maturity 5.9 yrs Weighted average duration 3.0 yrs Weighted average
coupon 10.2% Estimated accumulated undistributed $732 thousand net
investment income Leverage(4) 31.9% (1) The Fund is actively
managed, and its portfolio composition will vary over time. (2) Net
asset value (NAV), market price and yields will fluctuate. NAV
yield is calculated by multiplying the current month's dividend by
12 and dividing by the month-end net asset value. Market yield is
calculated by multiplying the current month's dividend by 12 and
dividing by the month-end market price. (3) Credit quality ratings
reflect the middle rating from three major rating agencies,
S&P, Moody's and Fitch. Standard & Poor's ("S&P") is a
division of The McGraw-Hill Companies, Inc. (4) As a percentage of
gross assets. Leverage may vary. *T
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