Herzfeld Caribbean Basin Stock Price, News & Analysis

The Herzfeld Caribbean Basin Fund (NASDAQ: CUBA) announced a quarterly distribution on February 3, 2023, with a payment of $0.173625 per share scheduled for March 31, 2023. Shareholders can choose to receive their distributions in cash or stock, with 80% expected to be in stock and a cash limit of 20%. The distribution includes return of capital, as the Fund anticipates future distributions to exceed investment income and capital gains. The policy aims for quarterly distributions equivalent to 15% of the Fund’s net asset value. The Fund's performance shows a 5-year annual total return of -0.27% and a distribution rate of 13.81% as of January 31, 2023.

The Herzfeld Caribbean Basin Fund (NASDAQ: CUBA) announced a cash distribution as part of its Managed Distribution Plan, declaring a payment of $0.173625 per share. This included $223,387.19 in cash and 225,705 shares distributed to shareholders. Stockholders could opt for cash or shares, with 46.22% choosing to receive shares. The Fund aims for a fixed annual distribution of 15% of its net asset value. However, the future of the distribution plan remains uncertain, and the Fund anticipates that distributions may include return of capital, potentially affecting total assets.

The Herzfeld Caribbean Basin Fund (NASDAQ: CUBA) has completed its tender offer, purchasing 338,382 shares at $4.9823 each, following a valid tender of 2,374,186.355 shares, exceeding the 5% share buyback limit. Due to high demand, shares will be acquired on a pro rata basis, resulting in a proration factor of 14.25%. This strategic move may affect the Fund's market valuation and investor sentiment towards its future performance in the Caribbean investment landscape.

The Herzfeld Caribbean Basin Fund (CUBA) announced a quarterly distribution of $0.173625 per share, effective from November 30, 2022. The declaration date is November 8, 2022, with an ex-date of November 17, 2022, and a record date of November 18, 2022.

Distributions will be a mix of cash and stock, with stockholders able to choose between the two. Approximately 80% of the distribution will be in stock. The Fund expects distributions to exceed income and capital gains, likely including returns of capital. The average annual total return over five years stands at 1.20%.

The Herzfeld Caribbean Basin Fund (NASDAQ: CUBA) has initiated a Tender Offer to buy back up to 5% of its outstanding shares at 97.5% of the Net Asset Value (NAV), effective as of November 8, 2022. This announcement, made by Thomas J. Herzfeld Advisors, Inc., follows a previous press release dated October 3, 2022. Shareholders are encouraged to review the Offer to Purchase documents for critical details. The Fund specializes in investments in the Caribbean Basin and aims to manage its market price relative to NAV.

Thomas J. Herzfeld Advisors announced a Tender Offer by The Herzfeld Caribbean Basin Fund (CUBA) starting October 12, 2022, as part of a three-year plan to address its trading price discount to net asset value (NAV). The fund will offer to repurchase up to 5% of outstanding shares at 97.5% of NAV if the discount exceeds 10% for the previous fiscal year. The formal offer details will be released shortly. Shareholders are advised to review the forthcoming documents for crucial information regarding the tender offer.

The Herzfeld Caribbean Basin Fund (NASDAQ: CUBA) announced its distribution under the Managed Distribution Plan, declaring a cash and stock distribution of $0.173625 per share. Shareholders had the option to receive cash or stock, with 20% paid in cash and 80% in shares. The distribution was based on the volume weighted average price of $4.24595. Total distributions for the fiscal year are comprised solely of return of capital, with no net investment income reported. This maintains a distribution rate of 15% annually against the net asset value. Risks include the potential adverse effects on market price due to distribution changes.

The Herzfeld Caribbean Basin Fund (NASDAQ: CUBA) announced changes to its managed distribution policy for the September 30, 2022 distribution, which will include both cash and stock. The cash portion will be capped at 20%, with the remaining 80% in shares. Stockholders must return an election form by September 15, 2022, to dictate their distribution preference. Management believes this approach will strengthen the Fund’s balance sheet and position it for future investments. However, distributions may include returns of capital, which do not reflect investment performance.

The Herzfeld Caribbean Basin Fund (NASDAQ: CUBA) announced a cash and stock distribution of $0.26475 per share as part of its managed distribution plan. The distribution was declared on May 13, 2022, with a payment date of June 30, 2022. Stockholders had the option to receive the distribution in cash or shares, with approximately 80% paid in stock. Total distributions included $330,213.94 in cash and 319,050 shares. The plan aims for a 15% annual distribution rate but may include returns of capital, potentially impacting total assets and expense ratios.