Prospect Street(R) High Income Portfolio Inc. Announces Declaration of Regular Distribution
08 March 2008 - 10:40AM
Business Wire
Prospect Street� High Income Portfolio Inc. (the �Fund�) (NYSE:
PHY), a diversified, closed-end investment management company,
today announced that its Board of Directors has declared Regular
distributions on its common stock, for each of the months of March
and April 2008, of $0.0235 per share, payable on last business day
of each month to holders of record at the close of business ten
calendar days prior to such date. The following are annualized
historical distribution rate calculations based on the total
declared distribution for the month, the Fund�s net asset value
(�NAV�) at month-end and the Fund�s month-end closing price
(�Market Price�). Annualized Period-End Distribution Rates � Amount
� NAV � Market Price � � � � February 29, 2008 $ 0.0235 10.04 %
11.06 % January 31, 2008 $ 0.0235 9.69 % 10.76 % December 31, 2007
$ 0.0235 9.01 % 10.37 % November 30, 2007 $ 0.0235 8.70 % 9.89 %
October 31, 2007 $ 0.0235 8.25 % 9.37 % September 28, 2007 $ 0.0235
8.32 % 9.28 % August 31, 2007 $ 0.0235 8.52 % 9.37 % July 31, 2007
$ 0.0235 8.55 % 9.13 % June 29, 2007 $ 0.0235 7.99 % 8.62 % May 31,
2007 $ 0.0235 7.73 % 8.44 % April 30, 2007 $ 0.0235 7.79 % 8.49 %
March 30, 2007 $ 0.0230 8.00 % 8.65 % Distribution rates are
calculated by annualizing the distribution declared during the
period and then dividing the resulting annualized distribution by
the month-end NAV (in the case of NAV) or the month-end closing
price (in the case of Market Price). The distribution rate is based
on an estimation of investment income and may or may not include a
return of capital. The distribution rate is based solely on actual
distributions, which are made at the discretion of the Board of
Directors. This press release is not for tax reporting purposes but
is being provided to announce the amount of the Fund�s
distributions that have been declared by the Board of Directors. In
early 2009, after definitive information is available, the Fund
will send stockholders a Form 1099-DIV specifying how the
distributions paid by the Fund during the calendar year should be
characterized for purposes of reporting the distributions on a
stockholder�s tax return (e.g., ordinary income, short-term capital
gain, long-term capital gain or return of capital).
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