THE NEW AMERICA HIGH INCOME FUND, INC. DECLARES DIVIDEND, ANNOUNCES DIVIDEND CHANGE
30 Marzo 2020 - 2:00PM
The New America High Income Fund, Inc. (the “Fund”) (NYSE: HYB)
announced today that it will pay a dividend of $0.050 per share on
the company’s common stock on April 30, 2020 to common shareholders
of record as of the close of business on April 16, 2020 (the “April
2020 Dividend”). The ex-dividend date will be April 15th. The April
2020 Dividend represents a decrease of $0.005 from the Fund’s
dividend of $0.055 that will be paid on March 31, 2020. In
determining to reduce the dividend, the Board of Directors of the
Fund considered information regarding the impact of the COVID-19
pandemic on, among other things, the Fund’s current and projected
investment income from its holdings.
The recent outbreak of COVID-19 has impacted issuers whose
securities the Fund invests in and the market on which the Fund’s
common stock is traded. The spread of COVID-19 can have a
significant negative impact as a result of closed borders,
quarantines and disruptions to business operations, supply chains
and consumer activity, as well as general concern and uncertainty.
Many of the impacts of the COVID-19 pandemic on economies and
issuers, globally, are yet to be seen or quantified, and such
effects may persist for an extended period of time and result in a
substantial economic downturn. Health crises caused by outbreaks,
such as the COVID-19 pandemic, may exacerbate other pre-existing
political, social and economic risks and disrupt normal market
conditions and operations. These factors can affect, among other
things, the nature and amount of Fund distributions, Fund
performance and trading price, the cost of financing and cash
levels necessary to meet coverage requirements under applicable law
and the Fund’s line of credit, portfolio holdings and realized and
projected returns. There can be no guarantee that a change in
market conditions or other factors will not result in a change in
the nature of the Fund’s dividend or the amount of the dividend
paid in the future.
The Fund has released updated portfolio data which can be found
on the Fund’s website at www.newamerica-hyb.com.
The New America High Income Fund, Inc. is a diversified,
closed-end management investment company with a leveraged capital
structure. The Fund’s investment adviser is T. Rowe Price
Associates, Inc. (“T. Rowe Price”). As of December 31, 2019, T.
Rowe Price and its affiliates managed approximately $1.2 trillion
of assets, including approximately $20 billion of “high yield”
investments. T. Rowe Price has provided investment advisory
services to investment companies since 1937.
Except for any historical information and discussions contained
herein, statements contained in this news release constitute
forward-looking statements. These statements may involve a number
of risks, uncertainties and other factors that could cause actual
results to differ materially, including the performance of
financial markets, the investment performance of the Fund, general
economic conditions, future acquisitions, competitive conditions
and government regulations, including changes in tax laws. Readers
should carefully consider such factors. Further, such
forward-looking statements speak only on the date at which such
statements are made. The Fund undertakes no obligation to update
any forward-looking statements to reflect events or circumstances
after the date of such statement.
This material has been distributed for informational purposes
only and should not be considered as investment advice or a
recommendation of any particular security, strategy or investment
product. No part of this material may be reproduced in any form, or
referred to in any other publication, without express written
permission.
Contact: Ellen E. Terry, President Telephone: 617-263-6400
www.newamerica-hyb.com
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