Dividends | Distributions

The quarterly distribution reflects the Fund’s current distribution policy to provide shareholders with a relatively stable cash flow per share. There is no guarantee that the Fund’s current distribution policy will reduce or eliminate the Fund’s market price discount to its net asset value per share and the Fund’s trustees have no fiduciary duty to take action, or to consider taking any action, to narrow any such discount. The policy may be changed or discontinued without notice. The distributions are paid from net investment income and any net capital gains, with the balance representing return of capital. The Fund’s distributions are not tied to its net investment income and net realized capital gains and do not represent yield or investment return. The Fund is subject to U.S. corporate, tax, and securities laws. Under U.S. tax accounting rules, the amount of distributable net income is determined on an annual basis and is dependent during the fiscal year on the aggregate gains and losses realized by the Fund and, to a lesser extent, other factors. Therefore, the exact amount of distributable income can only be determined as of the end of the Fund’s fiscal year. Under the Investment Company Act of 1940, as amended, however, the Fund is required to indicate the source of each distribution to shareholders. The Fund estimates that distributions for the period commencing January 1, including the distributions paid quarterly, will be comprised primarily from paid in capital and the balance from net investment income. This estimated distribution composition may vary from quarter to quarter because it may be materially impacted by future realized gains and losses on securities and other factors. In January, the Fund normally sends shareholders a Form 1099-DIV for the prior calendar year stating the amount and composition of distributions and providing information about their appropriate tax treatment.

2019 Quarterly Distribution Dates

Declaration Record Payment
March 1 March 15 March 29
June 3 June 17 June 28
September 3 September 17 September 30
December 2 December 16 December 30

Historical Distribution Summary (Per Share)

Period Investment Income Return of Capital Capital Gains Total
20160.230.77 $ -1
20150.261.37 $ -1.63
20141.63 $ - $ -1.63
20131.160.47 $ -1.63
20120.561.07 $ -1.63
201110.76 $ -1.76
20101.40.24 $ -1.64
20091.560.08 $ -1.64
20082.361.08 $ -3.44
20073.360.2 $ -3.56
20063.72 $ - $ -3.72
20052.121.88 $ -4
20042.161.84 $ -4
20032.441.56 $ -4
20022.641.84 $ -4.48
20012.62.36 $ -4.96
20003.21.76 $ -4.96
June 29, 1998 to November 30, 19981.64 $ - $ -1.64

Dividend Reinvestment Plan

Terms and Conditions of the 2015 Amended Dividend Reinvestment Plan

Dividend Reinvestment Plan (pdf)