NEW
YORK, Sept. 8, 2022 /PRNewswire/ -- The Swiss
Helvetia Fund, Inc. (NYSE: SWZ), a non-diversified registered
closed-end investment company (the "Fund"), announced today that
the Fund's Board of Directors has approved a quarterly distribution
of $0.1665 per share of the Fund's
common stock pursuant to Fund's managed distribution plan (the
"Plan"). The distribution is subject to the following record,
ex-dividend and payment dates:
Record Date: September 21,
2022
Ex-Dividend Date: September 20,
2022
Payment Date: September 30, 2022
The primary purpose of the Plan is to provide the Fund's
stockholders with a more consistent, but not guaranteed, fixed
minimum rate of distribution on a regular, quarterly basis. The
Plan also may have the effect of narrowing the discount to net
asset value per share at which the Fund's shares trade.
Distributions under the Plan may consist of net investment
income, net realized short-term capital gains, net realized
long-term capital gains and, to the extent necessary, return of
capital (or other capital sources). With each distribution that
does not consist solely of net investment income, the Fund will
issue a notice to stockholders and an accompanying press release
that will provide detailed information regarding the amount and
composition of the distribution, as well as certain other related
information. The Fund expects to issue any such notice and press
release on or about the distribution payment date.
The amounts and sources of distributions reported in each notice
will be estimated, are likely to change over time and are not
provided for tax reporting purposes. The actual amounts and sources
of the amounts for accounting and tax reporting purposes will
depend upon the Fund's investment experience during its full fiscal
year and may be subject to changes based on tax regulations. The
Fund will send each stockholder a Form 1099-DIV for the calendar
year that will tell stockholders how to report distributions for
federal income tax purposes.
The current distribution amount of $0.1665 per share of the Fund's common stock
equates to an annualized distribution rate of 6.00% based on the
Fund's net asset value per share, or NAV, as of October 31, 2021. The annualized rate is expected
to change over time as the Fund's NAV varies. The Board will review
periodically the terms of the Plan, including at least annually, to
determine whether to adjust the amount or the calculation of the
distribution rate, which may be affected by numerous factors,
including changes in realized and projected market returns, Fund
performance and other factors. The Board may amend the terms of the
Plan or terminate the Plan at any time without prior notice to the
Fund's stockholders. The amendment or termination of the Plan could
have an adverse effect on the market price of the Fund's shares of
common stock.
Unless a stockholder has otherwise elected, distributions
declared pursuant to the Plan will be reinvested automatically in
shares of the Fund's common stock as provided in the Fund's
automatic dividend reinvestment plan.
About The Swiss Helvetia Fund,
Inc.
The Fund (www.swzfund.com) is a non-diversified, closed-end
investment company seeking long-term capital appreciation through
investment in equity and equity-linked securities of Swiss
companies. Its shares are listed on the NYSE under the symbol
"SWZ." The Fund seeks to achieve its investment objective by
investing generally in Swiss equity and equity-linked securities
that are traded on a Swiss stock exchange, traded at the pre-bourse
level of one or more Swiss stock exchanges, traded through a market
maker or traded over the counter in Switzerland. The Fund also may invest in Swiss
equity and equity-linked securities of Swiss companies that are
traded on other major European stock exchanges.
Closed-end funds, unlike open-end funds, are not continuously
offered. Typically, shares of closed-end funds are sold in the open
market through a stock exchange. Shares of closed-end funds
frequently trade at a discount to net asset value. The price of the
Fund's shares is determined by a number of factors, several of
which are beyond the control of the Fund. Therefore, the Fund
cannot predict whether its shares will trade at, below or above net
asset value.
The Fund is managed by Schroder Investment Management North
America Inc.
About Schroder Investment
Management North America Inc.
Schroder Investment Management North America Inc. and Schroder
Investment Management North America Limited, investment advisors
registered with the U.S. SEC, are units of Schroders plc (SDR.L), a
global asset management company with approximately $939.2 billion in assets under management as of
June 30, 2022. Schroder's clients
include major financial institutions including banks and insurance
companies, as well as local and public authorities, public and
private pension funds, endowments and foundations, intermediaries
and advisors, as well as high net worth individuals and retail
investors. The firm has built one of the largest networks of
offices of any dedicated asset management company with more than
500 portfolio managers and analysts covering the world's investment
markets, offering a comprehensive range of products and
services.
Schroder Investment Management North America Inc. provides asset
management products and services to clients in the U.S. and
Canada. Schroder Investment
Management North America Inc. is an indirect, wholly-owned
subsidiary of Schroders plc, a U.K. public company with shares
listed on the London Stock Exchange.
This press release shall not constitute an offer to sell or a
solicitation to buy, nor shall there be any sale of the Fund's
shares in any state or jurisdiction in which such offer or
solicitation or sale would be unlawful prior to registration or
qualification under the laws of such state or jurisdiction.
Contact:
Jennifer Brogadir
212-641-3863
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SOURCE The Swiss Helvetia Fund, Inc.