Highland Opportunities and Income Fund Announces the Regular Monthly Distribution

Highland Opportunities and Income Fund (NYSE: HFRO) announced a regular monthly common-stock distribution of $0.0385 per share, payable October 30, 2026.

Rhea-AI Summary

Highland Opportunities and Income Fund (NYSE: HFRO) announced a regular monthly common-stock distribution of $0.0385 per share, payable October 30, 2026. Shareholders of record at the close of business on October 23, 2026, will receive the payment. The closed-end fund declares and pays distributions monthly.

Key Figures

Distribution per share: $0.0385 per share Record date: October 23, 2026 Payment date: October 30, 2026

Distribution per share

$0.0385 per share

Regular monthly distribution on common stock

Record date

October 23, 2026

Shareholders of record at close of business

Payment date

October 30, 2026

Distribution payable date

Key Terms

derivatives, real estate investment trusts, mezzanine debt, mortgage-backed securities, +2 more

6 terms

derivatives financial

"through derivatives that are the economic equivalent of direct investments"

Derivatives are financial contracts whose value depends on the price or performance of another asset, such as a stock, bond, commodity, currency or interest rate. Investors use them to hedge against risk, to speculate on future price moves, or to gain exposure without owning the asset — like buying insurance or placing a leveraged bet — so they can both protect portfolios and magnify gains or losses, affecting risk and market liquidity.

View in glossary

real estate investment trusts financial

"including real estate investment trusts ("REITs")"

Real estate investment trusts are companies that own and manage income-producing properties — such as apartments, offices, shopping centers or warehouses — and are required to distribute most of their rental income to shareholders as dividends. They let investors buy a piece of real estate without owning buildings directly, offering regular income, diversification and exposure to property values and rents; like a mutual fund for property that pays out cash from rents and is sensitive to market cycles and interest rates.

mezzanine debt financial

"securities convertible into equity securities and mezzanine debt"

Mezzanine debt is a hybrid loan that sits between a company’s senior bank debt and equity ownership: it pays higher interest than regular loans because it takes on more risk, and often includes an option to convert into shares or warrants. Investors care because it offers higher potential returns than plain debt while carrying greater chance of loss or equity dilution if the company struggles, making it a middle-ground choice for yield and upside.

mortgage-backed securities financial

"structured products (including but not limited to mortgage-backed securities"

A mortgage-backed security is an investment made by pooling many home loans and selling the right to the borrowers’ monthly payments to investors, so you receive a stream of principal and interest much like collecting payments on a bundle of IOUs. It matters to investors because it provides regular income but carries risks from homeowners missing payments or paying off loans early, and its value moves with interest rates and housing market conditions.

collateralized loan obligations financial

"mortgage-backed securities, collateralized loan obligations and asset-backed securities"

A collateralized loan obligation is a financial product that pools many corporate loans and repackages them into slices sold to investors, with some slices offering steady, lower returns and others offering higher returns but more risk. Like splitting a pizza into pieces for different tastes, CLOs let investors pick their preferred risk level and help banks fund lending, so changes in CLO performance influence credit availability and can move markets.

asset-backed securities financial

"collateralized loan obligations and asset-backed securities"

A type of investment created by pooling many similar cash‑flowing assets — like mortgages, car loans, or credit card receivables — and selling slices of that bundle to investors who then receive the payments those assets generate. Think of it as a fruit basket where buyers earn the fruit sales: investors get steady income but also take on the risk that the underlying loans stop performing or are paid off early. Investors care because these securities can provide predictable yield, portfolio diversification, and varying levels of credit and liquidity risk depending on the quality of the underlying assets.

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DALLAS, Oct. 1, 2026 /PRNewswire/ -- The Highland Opportunities and Income Fund (NYSE: HFRO) ("HFRO" or the "Fund") today announced its regular monthly distribution on its common stock of $0.0385 per share. The distribution will be payable on October 30, 2026, to shareholders of record at the close of business October 23, 2026.

The Fund is a closed-end fund that seeks to provide growth of capital along with income in a registered fund format. The Fund pursues its investment objective by investing directly and indirectly (e.g., through derivatives that are the economic equivalent of direct investments) in the following categories of securities and instruments: (i) investments in securities or other instruments directly or indirectly secured by real estate, including real estate investment trusts ("REITs"), preferred equity, securities convertible into equity securities and mezzanine debt; (ii) other instruments, including, but not limited to, secured and unsecured fixed-rate loans and corporate bonds, distressed securities, mezzanine securities, structured products (including but not limited to mortgage-backed securities, collateralized loan obligations and asset-backed securities), convertible and preferred securities, equities (public and private), and futures and options; and (iii) floating rate loans and other securities deemed to be floating rate investments.

The Fund declares and pays distributions monthly.

About the Highland Opportunities and Income Fund

The Highland Opportunities and Income Fund (NYSE: HFRO) is a closed-end fund managed by NexPoint Asset Management, L.P. For more information visit nexpointassetmgmt.com/opportunities-income-fund.

About NexPoint Asset Management, L.P.

NexPoint Asset Management, L.P. is an SEC-registered investment adviser on the NexPoint investment platform. It is the adviser to a suite of registered open-end and close-end funds. For more information visit nexpointassetmgmt.com.

Before investing in the Fund, you should carefully consider the Fund's investment objectives, risks, charges, and expenses. For a copy of a prospectus or summary prospectus, the Fund's most recent annual report on Form N-CSR, semi-annual report, and other filings which contain this and other information, please visit our website at www.nexpointassetmgmt.com, the Securities and Exchange Commission's website at www.sec.gov, or call 1-800-357-9167. Please read these materials carefully before investing.

The distribution may include a return of capital. Please refer to the 19(a)-1 Source of Distribution Notice on the NexPoint Asset Management website for Section 19 notices that provide estimated amounts and sources of the Fund's distributions, which should not be relied upon for tax reporting purposes.

No assurance can be given that the Fund will achieve its investment objectives.

Shares of closed-end investment companies frequently trade at a discount to net asset value. The price of the Fund's shares is determined by a number of factors, several of which are beyond the control of the Fund. Therefore, the Fund cannot predict whether its shares will trade at, below or above net asset value. Past performance does not guarantee future results.

Closed-End Fund Risk. The Fund is a closed-end investment company designed primarily for long-term investors and not as a trading vehicle. No assurance can be given that a shareholder will be able to sell his or her shares on the NYSE when he or she chooses to do so, and no assurance can be given as to the price at which any such sale may be affected.

Credit Risk. The Fund may invest all or substantially all of its assets in Senior Loans or other securities that are rated below investment grade and unrated Senior Loans deemed by NexPoint to be of comparable quality. Securities rated below investment grade are commonly referred to as "high yield securities" or "junk securities." They are regarded as predominantly speculative with respect to the issuing company's continuing ability to meet principal and interest payments. Non-payment of scheduled interest and/or principal would result in a reduction of income to the Fund, a reduction in the value of the Senior Loan experiencing non-payment and a potential decrease in the NAV of the Fund. Investments in high yield Senior Loans and other securities may result in greater NAV fluctuation than if the Fund did not make such investments.

Real Estate Industry Risk: Issuers principally engaged in real estate industry, including real estate investment trusts, may be subject to risks similar to the risks associated with the direct ownership of real estate, including: (i) changes in general economic and market conditions; (ii) changes in the value of real estate properties; (iii) risks related to local economic conditions, overbuilding and increased competition; (iv) increases in property taxes and operating expenses; (v) changes in zoning laws; (vi) casualty and condemnation losses; (vii) variations in rental income, neighborhood values or the appeal of property to tenants; (viii) the availability of financing and (ix) changes in interest rates and leverage.

Illiquidity of Investments Risk. The investments made by the Fund may be illiquid, and consequently the Fund may not be able to sell such investments at prices that reflect the Investment Adviser's assessment of their value or the amount originally paid for such investments by the Fund.

Ongoing Monitoring Risk. On behalf of the several Lenders, the Agent generally will be required to administer and manage the Senior Loans and, with respect to collateralized Senior Loans, to service or monitor the collateral. Financial difficulties of Agents can pose a risk to the Fund.

CONTACTS
Investor Relations
Kristen Griffith
IR@nexpoint.com

Media Relations
comms@nexpoint.com

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SOURCE Highland Opportunities and Income Fund

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How much is HFRO's regular monthly distribution and when is it payable?

HFRO's regular monthly common-stock distribution is $0.0385 per share, payable October 30, 2026, to shareholders of record at the close of business on October 23, 2026.