Welcome to our dedicated page for Herzfeld Caribbean Basin news (Ticker: CUBA), a resource for investors and traders seeking the latest updates and insights on Herzfeld Caribbean Basin stock.
Herzfeld Caribbean Basin Fund Inc (CUBA) provides investors with a centralized hub for tracking corporate developments in this Caribbean-focused closed-end fund. This resource aggregates official press releases, regulatory filings, and market analyses related to the fund's equity investments and strategic initiatives.
Users gain immediate visibility into earnings announcements, portfolio adjustments, and management commentary. The page serves institutional and individual investors seeking to monitor the fund's performance in emerging Caribbean Basin markets, dividend distributions, and responses to regional economic trends.
Content spans quarterly results, shareholder communications, leadership changes, and operational updates. Bookmark this page for streamlined access to Herzfeld Caribbean Basin Fund's verified financial disclosures and position-specific developments within its diversified investment strategy.
Thomas J. Herzfeld Advisors, Inc. has announced that The Herzfeld Caribbean Basin Fund, Inc. (Nasdaq: CUBA) will commence a Tender Offer on October 14, 2024. This offer is part of the Fund's ongoing plan to address its trading price discount to net asset value (NAV) per share. The plan, initially announced in May 2019 and extended to June 30, 2025, includes a Self-Tender Policy.
Under this policy, the Fund will offer to purchase up to 5% of its outstanding shares at 97.5% of NAV if the average discount was greater than 10% for the previous fiscal year. The formal offer and detailed terms will be announced soon. Shareholders will be notified according to SEC requirements and should review the offer documents carefully when available.
The Herzfeld Caribbean Basin Fund (NASDAQ: CUBA) has paid its quarterly distribution of $0.135375 per share on July 15, 2024. The distribution was made under the Fund's Managed Distribution Policy, with 20% paid in cash and 80% in stock. Stockholders who didn't elect a preference received about 0.058 shares for each share owned. The Fund's primary goal is to provide a fixed minimum distribution rate each quarter, currently set at an annual rate of 15% of the Fund's NAV.
The distribution included $0.119929 (88.59%) from net realized long-term capital gains and $0.015446 (11.41%) as return of capital. The Fund's 5-year average annual total return is -3.70%, with a current annualized distribution rate of 17.47% of NAV. The Board has flexibility to adjust distribution timing to account for year-end regulatory capital gains distributions.
The Herzfeld Caribbean Basin Fund (NASDAQ: CUBA) announced a corrected schedule for its upcoming distribution in stock and cash. The revised Ex-Date is 06/03/2024. The distribution will be paid on 07/15/2024, with a per-share amount of $0.135375. Stockholders may choose to receive their distribution in cash or stock, with the total cash portion to 20%. The rest will be distributed as common stock. The average stock price on June 27, 28, and July 1, 2024, will determine the number of shares issued. This distribution aims to strengthen the Fund's balance sheet and capitalize on future investment opportunities. The distribution includes a return of capital, meaning part of the stockholder's original investment is paid back. The Fund's policy ensures a 15% annual rate of distribution, reviewed quarterly. The policy may be amended or terminated, impacting the market price of the Fund's shares. The current distribution is solely from capital returns and not investment income or capital gains.
The Herzfeld Caribbean Basin Fund (NASDAQ: CUBA) has announced a distribution combining shares of common stock and cash, per their managed distribution policy. Stockholders will receive $0.135375 per share, with 80% of the distribution in stock and 20% in cash. Key dates include the declaration date on May 23, 2024, ex-date on May 31, 2024, record date on June 3, 2024, and payment date on July 15, 2024. Stockholders must elect their preferred form of distribution by July 1, 2024, or default to receiving the distribution in stock. The Fund anticipates these distributions will likely include returns of capital, which may reduce the Fund's total assets and increase its expense ratio. The Policy has been extended through June 30, 2025, with potential adjustments by the Board. Capital gains as of May 15, 2024, stand at approximately $3.6 million.
The Herzfeld Caribbean Basin Fund (NASDAQ: CUBA) is celebrating its 30th year on NASDAQ, emphasizing Cuba's economic potential. The Fund extends its Managed Distribution Plan (MDP) and Self-Tender Policy to June 30, 2025. The MDP aims to provide a 15% annual distribution rate, allowing adjustments for regulatory compliance. Capital gains are about $3.6 million as of May 15, 2024. The Fund anticipates that distributions will likely include returns of capital, which could increase the expense ratio and necessitate untimely securities sales. The Self-Tender Policy will initiate a tender offer by October 31, 2024, if the average discount exceeds 10%, repurchasing up to 5% of shares at 97.5% of NAV. Additionally, HERZFELD/CUBA extends a management fee waiver, reducing fees by ten basis points, with further reductions for assets over $30 million.
The Herzfeld Caribbean Basin Fund, Inc. (NASDAQ: CUBA) has announced a quarterly distribution under its Managed Distribution Plan. Stockholders received a distribution of $0.135375 per share on May 10, 2024, with 80% paid in shares and 20% in cash. The distribution totaled $437,354.93 in cash and 680,934 shares. The Fund aims to provide a consistent distribution each quarter, subject to market price fluctuations. Stockholders can receive distributions in cash, stock, or a combination of both.
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