BNY Mellon Alcentra Global Multi-Strategy Credit Fund, Inc. Declares Distribution

Rhea-AI Summary

On May 23, 2024, BNY Mellon Alcentra Global Multi-Strategy Credit Fund (XALCX) announced a distribution of $2.00 per share of common stock. This distribution is payable on June 24, 2024, to shareholders recorded by the close of business on June 7, 2024, which is also the ex-dividend date. The Fund aims to maintain quarterly distributions, reflecting its net investment income and broader market conditions. Managed under normal market conditions, the Fund's earnings depend on its asset mix, portfolio maturity, and hedging practices. BNY Mellon Investment Management, a division of BNY Mellon, oversees the Fund, managing $2.0 trillion in assets as of March 31, 2024.

Positive

• Declared a distribution of $2.00 per share, maintaining consistent quarterly payouts.
• The distribution reflects the Fund's net investment income and supports investor expectations for stable returns.
• Part of BNY Mellon Investment Management, which manages $2.0 trillion in assets, ensuring robust management.

Negative

• Future distributions are subject to change based on market conditions, potentially affecting stability for investors.
• No assurance that the Fund will achieve its investment objective, presenting a risk for shareholders.
• Distribution policy changes may occur, subject to Board decisions, adding an element of unpredictability.

NEW YORK--(BUSINESS WIRE)-- On May 23, 2024, BNY Mellon Alcentra Global Multi-Strategy Credit Fund, Inc. (Ticker: XALCX) declared a distribution of $2.00 per share of common stock, payable on June 24, 2024, to shareholders of record at the close of business on June 7, 2024. The ex-dividend date is June 7, 2024. The previous dividend declared in February was a quarterly distribution of $2.00 per share of common stock.

The Fund intends to distribute all or a portion of its net investment income to common shareholders on a quarterly basis. To permit the Fund to maintain a more stable quarterly distribution, the Fund may from time to time distribute less than the entire amount of income earned in a particular period. The undistributed income would be available to supplement future distributions. Under normal market conditions, the Fund is managed in a manner such that the Fund’s distributions are reflective of the Fund’s current and projected earnings levels. Various factors will affect the Fund’s earnings, including the Fund’s asset mix, the average maturity of the Fund’s portfolio and the Fund’s use of hedging, as well as broader market conditions and interest rate levels. As portfolio and market conditions may change, the distribution rate, the composition of the distribution and the Fund's policy to declare and pay distributions quarterly may be subject to change, including by the Fund's Board of Directors.

Important Information

BNY Mellon Alcentra Global Multi-Strategy Credit Fund, Inc. is a diversified, closed-end management investment company. BNY Mellon Investment Adviser, Inc., the investment adviser for the Fund, is part of BNY Mellon Investment Management. BNY Mellon Investment Management is one of the world’s largest asset managers, with $2.0 trillion in assets under management as of March 31, 2024. Through a client-first approach, BNY Mellon Investment Management brings investors specialist expertise through its seven investment firms offering solutions across every major asset class and backed by the breadth and scale of BNY Mellon. Additional information on BNY Mellon Investment Management is available on www.bnymellonim.com. Follow us on LinkedIn for the latest company news and activity.

BNY Mellon Investment Management is a division of BNY Mellon, which has $48.8 trillion in assets under custody and/or administration as of March 31, 2024. Established in 1784, BNY Mellon is America's oldest bank. Today, BNY Mellon powers capital markets around the world through comprehensive solutions that help clients manage and service their financial assets throughout the investment life cycle. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bnymellon.com. Follow us on LinkedIn or visit our newsroom for the latest company news. BNY Mellon Investment Management's website is intended to allow investors public access to information regarding the Fund and does not, and is not intended to, incorporate the website in this release.

The Fund's investment returns and principal values will fluctuate so that an investor's shares may be worth more or less than the original cost. There is no assurance that the Fund will achieve its investment objective.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240523343413/en/

For Press Inquiries:

BNY Mellon Investment Adviser, Inc.

Sue Watt

(212) 815-3757

For Other Inquiries:

BNY Mellon Securities Corporation

The National Marketing Desk

240 Greenwich Street

New York, New York 10286

1-800-334-6899

Source: BNY Mellon Alcentra Global Multi-Strategy Credit Fund, Inc.

FAQ

When will BNY Mellon Alcentra Global Multi-Strategy Credit Fund (XALCX) distribute the $2.00 per share?

The $2.00 per share distribution is payable on June 24, 2024.

What is the ex-dividend date for BNY Mellon Alcentra Global Multi-Strategy Credit Fund's (XALCX) latest distribution?

The ex-dividend date is June 7, 2024.

How often does BNY Mellon Alcentra Global Multi-Strategy Credit Fund (XALCX) distribute dividends?

The Fund intends to distribute dividends on a quarterly basis.

What factors affect BNY Mellon Alcentra Global Multi-Strategy Credit Fund's (XALCX) earnings?

Factors include the Fund’s asset mix, portfolio maturity, hedging practices, and broader market conditions.

Who manages BNY Mellon Alcentra Global Multi-Strategy Credit Fund (XALCX)?

The Fund is managed by BNY Mellon Investment Adviser, part of BNY Mellon Investment Management.