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The Miller/Howard High Income Equity Fund (NYSE: HIE) has completed its liquidation on November 22, 2024, following its planned 10-year term. The Fund made a final liquidating distribution of $12.63 per share to shareholders, which corresponded to its final net asset value (NAV). Throughout its operational period since November 25, 2014, the Fund distributed monthly payments totaling $9.951 per share, not including the final liquidating distribution. Shareholders are advised to consult tax advisors regarding potential gains or losses from the liquidation.
The Miller/Howard High Income Equity Fund (NYSE: HIE) has announced its monthly cash distribution for October 2024. The Board of Trustees has declared a distribution of $0.051 per share. Key dates for this distribution are:
- Declaration Date: October 1, 2024
- Ex-Date: October 24, 2024
- Record Date: October 24, 2024
- Payable Date: October 31, 2024
Based on the Fund's closing price of $12.19 on the New York Stock Exchange on September 30, 2024, the current indicated distribution rate is 5.02%. The rate based on the Fund's net asset value per share of $12.41 is 4.93%. The Board of Trustees reviews the distribution amount quarterly, considering various factors that may affect the Fund's distribution rate.
Miller/Howard High Income Equity Fund (NYSE: HIE) has announced its planned termination on or about November 22, 2024, the last business date before the previously announced November 24, 2024 Termination Date. This aligns with the Fund's ten-year expected term as outlined in its February 28, 2020 prospectus.
Key points:
- The Fund will make a liquidating distribution around the Termination Date
- Common shares will continue trading on NYSE through November 20, 2024
- Trading will be suspended after market close on November 20, 2024
- The Fund's investment adviser may transition the portfolio to cash or cash equivalents
- No regular monthly distribution will be declared in November 2024
- Liquidation proceeds will be paid to shareholders promptly after liquidation
The Board of Trustees of the Miller/Howard High Income Equity Fund (NYSE: HIE) has declared monthly cash distributions of $0.051 per share for July, August, and September 2024. Key dates for these distributions include the declaration date of July 1, 2024; ex-dates of July 24, August 23, and September 23; record dates of July 24, August 23, and September 23; and payment dates of July 31, August 30, and September 30, respectively.
As of June 28, 2024, the Fund's indicated distribution rate based on the closing price of $11.21 is 5.46%, and 5.29% based on the net asset value per share of $11.56. The Fund aims to provide consistent monthly distributions, with the Board of Trustees reviewing and potentially adjusting the distribution level each quarter as per the adviser's recommendation. The distribution rate is subject to change based on various factors including market returns and Fund performance. These distributions should not be considered indicative of the Fund's dividend yield or total return.
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