Herzfeld Caribbean Basin Stock Price, News & Analysis

Thomas J. Herzfeld Advisors, Inc. has announced a Tender Offer by The Herzfeld Caribbean Basin Fund (CUBA), set to commence on October 12, 2021. This action aligns with the Fund’s strategy to mitigate its trading price discount relative to its net asset value (NAV), initially outlined in a plan from May 31, 2019. The Fund plans to buy back up to 5% of its outstanding shares at 97.5% of NAV, contingent on the prior year's average discount exceeding 10%. Detailed terms will be provided shortly.

The Herzfeld Caribbean Basin Fund, Inc. (NASDAQ: CUBA) has announced a cash and stock distribution of $0.26475 per share, as part of its managed distribution plan. Declared on August 20, 2021, cash payments represented 20% of the total distribution, while 80% was paid in shares. The distribution is expected to maintain a constant, but not guaranteed, annual rate of 15% based on net asset value. Following the distribution, approximately 6,044,310 shares will remain outstanding. The Fund may need to return capital to maintain its distribution levels, which could decrease total assets and increase expense ratios.

The Herzfeld Caribbean Basin Fund (NASDAQ: CUBA) announced changes to its managed distribution policy, set to pay a distribution of $0.26475 per share on September 30, 2021. The distribution will be provided in both cash and stock, with stockholders limited to 20% cash. Additionally, the Self-Tender Policy has been modified to extend the expected tender offer date to no later than October 31, 2021. The Fund aims to strengthen its balance sheet and capitalizes on investment opportunities through this approach.

The Herzfeld Caribbean Basin Fund, NASDAQ: CUBA, announced a distribution of $0.15525 per share as part of its managed distribution plan on June 30, 2021. This quarterly payment aligns with an annual rate of 15% based on the Fund's net asset value from March 31, 2020. The Fund intends to distribute all available investment income, but warns that it may also return capital to maintain distribution levels if investment income is insufficient. Distributions are subject to change based on the Board's discretion and may affect the Fund's market price.

On June 10, 2021, Herzfeld Caribbean Basin Fund announced a quarterly distribution of $0.15525 per share, reflecting a 2.43% distribution based on market price. This marks the sixth consecutive quarterly distribution under the managed distribution policy, which is set at an annual rate of 15% of the Fund’s net asset value. The Fund's distribution sources indicate a return of capital for the period, with no net investment income or realized capital gains reported. Investors should note that distributions do not guarantee investment performance and are subject to change based on available income.

The Herzfeld Caribbean Basin Fund (NASDAQ: CUBA) announced a distribution of $0.15525 per share as part of its managed distribution plan, emphasizing a 15% annual distribution rate based on net asset value as of March 31, 2020. The distribution will be paid on March 31, 2021, with key dates including a declaration on March 8, 2021, and an ex-date of March 17, 2021. The fund expects future distributions may exceed investment income, likely including returns of capital. No investment performance conclusions should be drawn from the distribution amounts.

The Herzfeld Caribbean Basin Fund (CUBA) announced its quarterly distribution of $0.15525 per share under its managed distribution policy. This marks the sixth consecutive quarterly distribution, reflecting a rate of 2.63% based on the market price and 2.24% based on the net asset value as of February 26, 2021. The ongoing managed distribution policy aims for a stable return to shareholders, set at an annual rate of 15% of the Fund’s net asset value. The Fund anticipates that distributions may include returns of capital, which could affect total assets and expense ratios.

The Herzfeld Caribbean Basin Fund (NASDAQ: CUBA) has concluded its tender offer to purchase up to 5% of its outstanding shares at 97.5% of NAV as of March 4, 2021. A total of 2,460,234.322 common shares were validly tendered, surpassing the 5% offer. Shares will be purchased on a pro rata basis, with a proration factor of 12.4656%. The Fund accepted 306,683 common shares at a price of $6.7958 per share, with payments to be processed promptly for the accepted shares.

Thomas J. Herzfeld Advisors, Inc. announced an Interim Tender Offer by The Herzfeld Caribbean Basin Fund (NASDAQ: CUBA) to buy up to 5% of its outstanding shares at 97.5% of NAV. This offer, originally disclosed on December 21, 2020, and updated on January 29, 2021, allows shareholders to sell their shares for cash. The NAV will be determined on March 4, 2021. Shareholders are encouraged to review the Offer to Purchase and related documents available through the SEC and the Fund's website for essential information.