MILLER/HOWARD HIGH INCOME EQUITY FUND UPDATES MONTHLY DISTRIBUTION INFORMATION FOR THE JUNE DISTRIBUTION TO TAKE INTO ACCOUNT REVISED EX-DATE
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The declaration of cash distributions by the Miller/Howard High Income Equity Fund is a tangible event for shareholders, as it directly influences the yield they receive on their investment. The indicated distribution rate of 5.52% based on the closing price and 5.28% based on net asset value (NAV), is a key figure. It's important to compare these rates to the average dividend yield of similar high-income equity funds. If the Fund's distribution is higher, it could attract income-focused investors, potentially increasing demand for the Fund's shares. However, a distribution rate significantly above the norm may raise questions about sustainability. Investors should monitor the payout ratio, which is the percentage of earnings paid out as dividends, to assess the long-term viability of these distributions.
The transition to T+1 settlement, which shortens the time between a trade and its settlement, could have implications for the Fund's liquidity and volatility. This change may lead to increased trading efficiency and reduced credit risk. For investors, this means that the timing of transactions around the ex-date for distributions becomes more critical. The revised ex-date for the June distribution is a direct response to this policy change and will require investors to adjust their strategies accordingly. It's also worth noting how the market reacts to such structural changes, as they can influence investor behavior and fund performance.
The Fund's distribution rate and its review process are reflective of broader economic conditions. Factors such as interest rates, inflation and market volatility play a role in determining realized and projected market returns. The Board of Trustees' commitment to monitor the distribution level suggests a proactive approach to managing these economic influences. For the broader market, the Fund's performance and distribution rates can act as indicators of the health of the high-income equity sector, which is often sensitive to changes in the economic landscape. Investors should consider macroeconomic trends when evaluating the Fund's future distributions and overall performance.
Kingston, NY, April 02, 2024 (GLOBE NEWSWIRE) -- The Board of Trustees of the Miller/Howard High Income Equity Fund (NYSE: HIE) (the “Fund”) declared, on April 1, 2024, cash distributions of
HIE: CUSIP–600379 101
| Declaration | Ex-Date | Record | Payable |
| April 1, 2024 | June 21, 2024 | June 21, 2024 | June 28, 2024 |
The Fund’s current indicated distribution rate based on its closing price on the New York Stock Exchange on March 28, 2023 (
Each quarter, the Board of Trustees reviews the Adviser’s recommended amount of any potential distribution to shareholders. The Board of Trustees will monitor the Fund’s distribution level. The Fund’s distribution rate may be affected by numerous factors, including changes in realized and projected market returns, Fund performance and other factors. There can be no assurance that an unanticipated change in market conditions or other unforeseen factors will not result in a change in the Fund’s distribution rate at a future time. The distribution rate should not be considered the dividend yield or total return on an investment in the Fund.
About the Fund
The Miller/Howard High Income Equity Fund seeks high current income, and secondarily long-term capital appreciation, by investing in high-yielding equities strategically allocated across multiple sectors and industries focusing on companies that we view to have a high current yield, growth of dividends and financial strength. The Fund has a 10 year term limit. It will terminate on November 24, 2024 unless the Board of Trustees determines that it is in the best interests of the shareholders to extend the term limit for one year or if shareholders vote to shorten or extend the life of the Fund. Upon termination of the Fund, shareholders will receive the NAV per share.
The Fund is managed by Miller/Howard Investments Inc., based in Kingston, New York. Miller/Howard Investments Inc.’s total firm assets as of December 31, 2023 were approximately
For information, call shareholder servicing:
American Stock Transfer
1-800-937-5449
FAQ
What is the cash distribution per share declared by Miller/Howard High Income Equity Fund (NYSE: HIE) for April, May, and June 2024?
What is the current indicated distribution rate of Miller/Howard High Income Equity Fund (NYSE: HIE) based on its closing price on the New York Stock Exchange on March 28, 2023?
How often does Miller/Howard High Income Equity Fund (NYSE: HIE) intend to pay distributions to its shareholders?
What factors may affect the distribution rate of Miller/Howard High Income Equity Fund (NYSE: HIE)?
Is the distribution rate of Miller/Howard High Income Equity Fund (NYSE: HIE) considered the dividend yield or total return on an investment in the Fund?
