Herzfeld Caribbean Basin Stock Price, News & Analysis

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.

Thomas J. Herzfeld Advisors, Inc. announced an Interim Tender Offer for The Herzfeld Caribbean Basin Fund (CUBA), commencing on February 12, 2021. The Fund will buy back up to 5% of its outstanding shares at 97.5% of Net Asset Value (NAV). Detailed terms and specific dates will be disclosed in future press releases. The offer is not currently active, and shareholders will receive further notifications as mandated by the Securities Exchange Act. Investors are encouraged to review forthcoming documents for essential details.

The Herzfeld Caribbean Basin Fund (NASDAQ: CUBA) announced a distribution of $0.15525 per share under its managed distribution plan. This plan aims to offer stockholders a fixed minimum distribution rate of 15% annually, based on the Fund’s net asset value as of March 31, 2020, payable quarterly. As of November 30, 2020, the Fund reported zero net investment income and cumulative distributions of $0.3105 per share this fiscal year. Future distributions may include capital gains and return of capital, which might decrease total assets and affect the expense ratio.

The Board of Directors of The Herzfeld Caribbean Basin Fund (NASDAQ: CUBA) has lifted the suspension of its Self-Tender Policy and reinstated its three-year plan to mitigate the trading price discount to its net asset value (NAV). An interim tender offer is scheduled for January 2021, aiming to purchase 5% of outstanding shares at 97.5% of NAV. The decision follows improved market conditions influenced by vaccine availability and potential changes in U.S.-Cuba relations under the new administration. The Fund's Managed Distribution Policy and fee waiver remain in place.