Herzfeld Caribbean Basin Stock Price, News & Analysis

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.

The Herzfeld Caribbean Basin Fund, Inc. (NASDAQ: CUBA) announced a managed distribution of $0.26475 per share on December 31, 2021. Cash distributions totaled $304,043.88, with 230,225 shares issued. Shareholders could choose between cash and stock, with 40.85% opting for shares only. The fund's plan aims to provide a quarterly distribution rate of 15% of net asset value, potentially including returns of capital if investment income is insufficient. The annualized distribution rate as of November 30, 2021, was 17.16%. Distributions are subject to change at the board's discretion.

The Herzfeld Caribbean Basin Fund (NASDAQ: CUBA) has concluded its tender offer to buy back 5% of its outstanding shares at 97.5% of net asset value (NAV). As of November 8, 2021, 2,261,361.322 shares were tendered, exceeding the offer amount. The Fund will purchase 302,216 shares at a price of $6.9810 per share, reflecting a pro rata buyback rate of 13.3642%. Payments for accepted shares will be processed promptly, while unpurchased shares will be returned to tendering shareholders.

The Herzfeld Caribbean Basin Fund (NASDAQ: CUBA) has revised its managed distribution policy for the upcoming distribution on December 31, 2021. Stockholders can choose to receive their distribution in cash or common stock, with 20% of cash distributed and 80% in stock. The Fund anticipates that future distributions will exceed its investment income and may include returns of capital, which could affect total assets and expense ratios. The Fund reported no net investment income, capital gains, or changes in NAV for the fiscal year to date, emphasizing a focus on maintaining a fixed distribution rate of 15% annually.