Managed High Yield Plus Fund Inc.—Dividend Declaration and Fund Statistics
12 July 2011 - 7:05AM
Business Wire
Managed High Yield Plus Fund Inc. (the "Fund") (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 $0.0200 per share. The dividend is payable on
July 29, 2011 to shareholders of record as of July 21, 2011. The
ex-dividend date is July 19, 2011.
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.
Portfolio statistics as of June 30, 20111 Top
ten corporate bonds, including coupon and maturity
Percentage of total portfolio assets
CIT Group, Inc., 7.000%, 05/01/17
2.3% Pokagon Gaming Authority, 10.375%, 06/15/14 1.8%
SquareTwo Financial Corp., 11.625%, 04/01/17 1.6% GMAC Capital
Trust I, 8.125%, 02/15/40 1.5% Ryerson, Inc., 12.000%, 11/01/15
1.3% FireKeepers Development Authority, 13.875%, 05/01/15 1.2% NRG
Energy, Inc., 8.500%, 06/15/19 1.2% Ford Motor Credit Co. LLC,
12.000%, 05/15/15 1.1% Harrah’s Operating Co., Inc., 11.250%,
06/01/17 1.0% Sungard Data Systems, Inc., 10.250%, 08/15/15
1.0% Top five industries
Gaming 9.8% Consumer/Commercial/Lease
Financing 5.1% Energy-exploration & production 4.7% Banking
4.5% Telecom-integrated/services 4.5%
Credit quality2 Ba/BB and higher 29.2% B/B 47.6% Caa/CCC and
lower 20.6% Equity/preferred 0.0%3 Cash equivalents
Not Rated
2.4%
0.2%
Total 100.0% Other characteristics Net asset value per
share4 $2.20 Market price per share4 $2.46 Weighted average
maturity 7.4 Yrs Weighted average modified duration5 4.6 Yrs
Weighted average coupon6 7.7% Leverage7 23.76% Yields4
NAV yield 10.91% Market yield 9.76%
1 The Fund is actively managed, and its portfolio composition
will vary over time.
2 Credit quality ratings are from Moody’s, unless that rating is
unavailable. If so, the default credit quality rating will be from
Standard & Poor's; if that is unavailable, an internal rating
from UBS Global AM will be used if assigned. Standard & Poor's
("S&P") is a division of The McGraw-Hill Companies, Inc.
3 Weighting represents less than 0.05% of total investments as
of the date indicated.
4 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.
5 Modified duration is the change in the price of a security,
expressed in years, expected in response to each 1% change in the
yield to maturity of the portfolio's holdings.
6 Weighted by par.
7 As a percentage of adjusted net assets. Adjusted net assets
equals total assets minus total liabilities, excluding liabilities
for borrowed money.
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