Highland Opportunities and Income Fund Announces the Regular Monthly Distribution

Rhea-AI Summary

Highland Opportunities and Income Fund (NYSE: HFRO) declared its regular monthly distribution of $0.0385 per common share. The distribution is payable on April 30, 2026 to shareholders of record at the close of business on April 23, 2026.

The Fund is a closed-end vehicle seeking capital growth and income through investments across real estate-related securities, fixed-income instruments, structured products, equities and floating-rate loans. The Fund declares and pays distributions monthly.

Positive

• Monthly distribution of $0.0385 per share
• Payable April 30, 2026; record date April 23, 2026
• Monthly distributions indicate regular cash return policy

Negative

• None.

News Market Reaction – HFRO

-1.41%

-1.41% Session close to close

In the Apr 2 session, HFRO declined 1.41%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement reiterates HFRO’s regular monthly distribution of $0.0385 per share, payable on Ap...

Analysis

This announcement reiterates HFRO’s regular monthly distribution of $0.0385 per share, payable on April 30, 2026 to shareholders of record on April 23, 2026. It continues a multi‑month pattern of unchanged payouts while the fund invests across real estate‑related securities, loans, and structured products. In context, investors may track how this steady income profile relates to prior filings that detailed net asset trends, market price total return, and portfolio concentration in commercial real estate.

Key Figures

Monthly distribution: $0.0385 per share Payable date: April 30, 2026 Record date: April 23, 2026

3 metrics

Monthly distribution $0.0385 per share Regular monthly distribution on common stock

Payable date April 30, 2026 Distribution payment date to shareholders

Record date April 23, 2026 Shareholders of record eligible for distribution

Historical Context

5 past events · Latest: Mar 11 (Neutral)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
Mar 11	Investor update call	Neutral	-0.7%	Conference call announcement to discuss portfolio updates and performance.
Mar 02	Monthly distribution	Neutral	-2.7%	Declared regular monthly distribution of $0.0385 per share for March.
Feb 02	Monthly distribution	Neutral	-0.3%	Announced $0.0385 per share monthly distribution payable February 27, 2026.
Jan 02	Monthly distribution	Neutral	+0.5%	Declared $0.0385 per share monthly distribution for January 2026.
Dec 01	Monthly distribution	Neutral	-0.3%	Declared $0.0385 per share distribution payable December 31, 2025.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Regular monthly distribution announcements at $0.0385 per share have typically seen modest, mixed price reactions, with no consistent directional pattern.

Recent Company History

Over the last several months, HFRO has repeatedly declared a regular monthly distribution of $0.0385 per share, with payments at month-end to shareholders of record roughly a week prior. These recurring announcements on Dec 1, Jan 2, Feb 2, and Mar 2 produced small positive and negative moves around the news. An investor update call announced on Mar 11 also prompted only a mild reaction, underscoring that routine communications and payouts have not been major trading catalysts.

Key Terms

closed-end fund, real estate investment trusts ("REITs"), mezzanine debt, structured products, +4 more

8 terms

closed-end fund financial

"The Fund is a closed-end fund that seeks to provide growth of capital..."

A closed-end fund is a pool of money collected from many investors to buy a diversified mix of stocks, bonds, or other assets, and it is managed by professionals. Unlike some investment options, its shares are bought and sold on stock exchanges at prices determined by supply and demand, which can be above or below the fund's actual value. This structure allows investors to buy or sell shares easily, but the value may fluctuate based on market conditions.

real estate investment trusts ("REITs") financial

"secured by real estate, including real estate investment trusts ("REITs"), preferred equity..."

Real estate investment trusts (REITs) are companies that own, manage or finance income-producing property — think of buying a share of a large landlord instead of a single building. They trade like stocks, often pay out most of their rental income to shareholders as regular cash returns, and give investors an easy way to gain exposure to property markets, income and diversification without directly buying or managing real estate.

mezzanine debt financial

"convertible into equity securities and mezzanine debt; (ii) other instruments..."

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.

structured products financial

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

Structured products are custom-made investment packages that combine familiar assets (like stocks or bonds) with contracts whose payouts depend on specific market outcomes, creating a tailored payoff profile — for example extra upside if an index rises or partial protection if it falls. They matter to investors because they can offer bespoke risk-return tradeoffs or capital protection, but carry issuer credit risk, added fees and complexity, and can be hard to value or sell quickly.

mortgage-backed securities financial

"structured products (including but not limited to mortgage-backed securities, collateralized loan..."

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

"including but not limited to mortgage-backed securities, collateralized loan obligations and asset-backed..."

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

"mortgage-backed securities, collateralized loan obligations and asset-backed securities), convertible..."

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.

derivatives financial

"equities (public and private), and futures and options; and (iii) floating rate loans..."

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.

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DALLAS, April 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 April 30, 2026, to shareholders of record at the close of business April 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.

Investors should consider the investment objectives, risks, charges, and expenses of the Highland Opportunities and Income Fund carefully before investing. This and other information can be found in the Fund's prospectus, which may be obtained by calling 1-800-357-9167 or visiting nexpointassetmgmt.com. Please read the prospectus carefully before you invest.

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

View original content:https://www.prnewswire.com/news-releases/highland-opportunities-and-income-fund-announces-the-regular-monthly-distribution-302732270.html

SOURCE Highland Opportunities and Income Fund

FAQ

What is HFRO's monthly distribution amount for April 2026?

The Fund declared a $0.0385 per share monthly distribution. According to Highland Opportunities and Income Fund, the payment is scheduled for April 30, 2026 and is payable to shareholders of record April 23, 2026.

When will HFRO shareholders receive the April 2026 distribution?

HFRO's distribution is payable on April 30, 2026. According to Highland Opportunities and Income Fund, shareholders must be on record by the close of business April 23, 2026 to receive the payment.

How often does HFRO pay distributions to shareholders?

The Fund declares and pays distributions monthly. According to Highland Opportunities and Income Fund, distributions are part of its regular cash-return policy tied to the Fund's income-generating investments.

What types of investments support HFRO's distributions (HFRO)?

HFRO invests across real estate-related securities, fixed-income, structured products, equities and floating-rate loans. According to Highland Opportunities and Income Fund, these diversified instruments support the Fund's objective of capital growth and income.