Herzfeld Caribbean Basin Stock Price, News & Analysis

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.

The Herzfeld Caribbean Basin Fund (NASDAQ: CUBA) announced a Tender Offer to purchase up to 5% of its outstanding shares at 97.5% of Net Asset Value (NAV). The offer, effective until November 8, 2021, follows a prior announcement made on October 4, 2021. Shareholders are encouraged to review the Offer to Purchase and related documents available through the SEC and the Fund's website. The Tender Offer aims to enhance shareholder value amidst market fluctuations.

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.