Herzfeld Caribbean Basin Stock Price, News & Analysis

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.

The Herzfeld Caribbean Basin Fund (NASDAQ: CUBA) has extended its Managed Distribution and Self-Tender Policies for another year, beginning July 1, 2022. This decision aims to address the Fund's trading discount to its net asset value (NAV), which has improved since the policy's inception in 2019 despite pandemic-related economic challenges. The investment advisor, Thomas J. Herzfeld Advisors, will waive management fees by 10 basis points if the average NAV discount exceeds 5% for the fiscal year ending June 30, 2022.

The Herzfeld Caribbean Basin Fund (NASDAQ: CUBA) announced changes to its managed distribution policy, opting for a mix of cash and stock for the June 30, 2022 payout. The distribution includes a per-share amount of $0.26475, with approximately 80% in stock and 20% in cash, dependent on stockholder elections. This modification aims to strengthen the Fund's balance sheet and capitalize on future opportunities. Notably, the Fund has not generated any investment income or realized gains so far this fiscal year, which raises concerns about its long-term sustainability.

The Herzfeld Caribbean Basin Fund (NASDAQ: CUBA) announced a cash distribution of $0.26475 per common share as part of its managed distribution plan. Distribution details include a total cash payout of $316,575.96 and issuance of 258,795 shares. Approximately 44.14% of shareholders elected to receive shares instead of cash. The distribution's primary intent is to provide stockholders with a minimum 15% annual return based on net asset value. However, due to current investment income levels, future distributions may include returns of capital, impacting the fund's overall assets.

The Herzfeld Caribbean Basin Fund (NASDAQ: CUBA) announced a quarterly distribution to be paid on March 31, 2022, comprising cash and stock. The total distribution is set at $0.26475 per share, with approximately 80% payable in stock and 20% in cash, depending on shareholder elections. The Fund aims to strengthen its balance sheet with this distribution model. However, it foresees that future distributions may include returns of capital, potentially affecting total assets and increasing expense ratios. Shareholders need to submit election forms by March 17, 2022, for their distribution preferences.