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Neuberger Next Generation Connectivity Fund Inc. (NYSE: NBXG), also referred to as Neuberger Berman Next Generation Connectivity Fund Inc., is a non-diversified, closed-end management investment company focused on capital appreciation and income. Company announcements emphasize its strategy of investing primarily in equity securities of U.S. and non-U.S. companies that are relevant to the NextGen Companies theme, and they provide regular updates on the fund’s distribution activity.
The NBXG news stream is heavily centered on monthly distribution declarations. Press releases typically specify the per-share distribution amount, the payable date, record date and ex-date, and restate the fund’s level distribution policy. These updates also explain that the fund anticipates making regular monthly distributions, subject to market conditions and further action to determine another amount, while noting there is no assurance that any particular distribution level can be maintained.
News items for NBXG also describe the potential composition of distributions, which may include net investment income, net realized capital gains and return of capital. The fund’s communications explain how Section 19 of the Investment Company Act of 1940, as amended, requires informational notices when distributions are not solely net investment income, and they indicate that the final tax characteristics of distributions are determined after year-end.
In addition to distribution-related updates, NBXG has reported recognition such as a 5-star Overall Morningstar Rating and a 5-star Morningstar Rating for its 3-year performance in the U.S. Closed-End Technology Morningstar Category as of a specified date. Each release includes standard risk disclosures about market conditions, competition from other closed-end investment companies, regulatory changes and other uncertainties. Investors and observers can use the NBXG news page to follow these recurring distribution declarations, policy reminders and third-party rating updates over time.
Neuberger Berman Next Generation Connectivity Fund (NYSE: NBXG) has declared a monthly distribution of $0.10 per share of common stock. The distribution will be payable on March 31, 2025, with a record and ex-date of March 17, 2025.
Under its level distribution policy, the Fund plans to maintain regular monthly distributions of $0.10 per share, subject to market conditions. The sustainability of this distribution rate depends on factors including income stability from investments, capital gains availability, and Fund expenses.
The Fund notes that distributions may include net investment income, net realized capital gains, and return of capital. Final tax characteristics of all 2025 distributions will be determined after year-end.
Neuberger Berman Next Generation Connectivity Fund (NYSE: NBXG) has declared a monthly distribution of $0.10 per share of common stock, payable on February 28, 2025, with a record and ex-date of February 18, 2025. The Fund maintains a level distribution policy, aiming to make regular monthly distributions of $0.10 per share, subject to market conditions.
The Fund's ability to maintain this distribution rate depends on factors including income stability from investments, capital gains availability, and Fund expenses. Distributions may include net investment income, realized capital gains, and return of capital. The final determination of distribution sources and tax characteristics for 2025 will be made at year-end.
Neuberger Berman Next Generation Connectivity Fund (NYSE: NBXG) has declared a monthly distribution of $0.10 per share of common stock, payable on January 31, 2025, with a record and ex-date of January 15, 2025. The Fund maintains a level distribution policy targeting monthly payments of $0.10 per share, subject to market conditions.
The Fund's ability to maintain this distribution rate depends on factors including investment income stability, capital gains availability, and expense levels. Distributions may include net investment income, realized capital gains, and return of capital. Final tax characteristics of 2025 distributions will be determined post-year-end.
Neuberger Berman Next Generation Connectivity Fund (NYSE: NBXG) has declared a monthly distribution of $0.10 per share of common stock, payable on December 31, 2024, with a record and ex-date of December 16, 2024. The Fund maintains a level distribution policy targeting monthly distributions of $0.10 per share, subject to market conditions. Distributions may include net investment income, capital gains, and return of capital. The Fund's ability to maintain this rate depends on factors like investment income stability, capital gains availability, and expense levels.
Neuberger Berman Next Generation Connectivity Fund has declared a monthly distribution of $0.10 per share of common stock, payable on November 29, 2024, with a record and ex-date of November 15, 2024. The Fund maintains a level distribution policy, aiming to make regular monthly distributions subject to market conditions. The distribution may include net investment income, capital gains, and return of capital. The Fund's ability to maintain this rate depends on factors like investment income stability, capital gains availability, and expense levels.
Neuberger Berman Next Generation Connectivity Fund Inc. (NYSE: NBXG) has declared a monthly distribution of $0.10 per share of common stock. The distribution is payable on October 31, 2024, with a record date and ex-date of October 15, 2024. The Fund maintains a level distribution policy, aiming to make regular monthly distributions of $0.10 per share, subject to market conditions.
The Fund's ability to maintain this distribution rate depends on factors such as income stability from investments, availability of capital gains, and Fund expenses. Distributions may include net investment income, net realized capital gains, and return of capital. A notice will be provided for any distribution not consisting solely of net investment income, as per Section 19 of the Investment Company Act of 1940. The final determination of the distribution's source and tax characteristics will be made after the end of 2024.
Neuberger Berman Next Generation Connectivity Fund Inc. (NYSE: NBXG) has declared a monthly distribution of $0.10 per share of common stock. The distribution is payable on September 30, 2024, with a record date and ex-date of September 16, 2024. This aligns with the Fund's level distribution policy, which aims to make regular monthly distributions subject to market conditions.
The Fund's ability to maintain this distribution rate depends on factors such as income stability from investments, availability of capital gains, and Fund expenses. While the Fund strives to maintain consistent distributions, there's no guarantee of a particular amount or that distributions will solely consist of net investment income. Future distributions may include net investment income, realized capital gains, and return of capital.
Neuberger Berman Municipal Fund Inc. (NYSE American: NBH) and Neuberger Berman Next Generation Connectivity Fund Inc. (NYSE: NBXG) have announced the certified results of their 2024 Annual Meetings of Stockholders. The meetings, held on August 16, 2024, reached quorum and faced a challenge from a dissident stockholder who proposed an alternative nominee. For NBH, preferred stockholders re-elected Michael M. Knetter. The final results, certified by independent Inspector of Election First Coast Results, Inc., confirm that the incumbent Board members of both funds will retain their positions. These results will be included in the funds' next annual report to stockholders.
Saba Capital Management, L.P., the largest shareholder of Neuberger Berman Municipal Fund (NBH) and Neuberger Berman Next Generation Connectivity Fund (NBXG), has criticized the 2024 Joint Annual Meeting election process. Despite shareholders overwhelmingly voting for Saba's director candidate, Paul Kazarian, Neuberger Berman's majority vote standard prevented his appointment. At NBXG, Kazarian received more than twice the votes of incumbent directors, even without Saba's votes.
Saba argues that Neuberger Berman's impossible-to-achieve vote standard allows underperforming directors to retain their positions indefinitely. The company is fighting against proposals by fund managers to eliminate shareholders' right to annual elections. Saba emphasizes the importance of protecting shareholder rights and ensuring their voices are heard in closed-end fund governance.
ISS has recommended shareholders of Neuberger Berman Municipal Fund (NBH) and Neuberger Berman Next Generation Connectivity Fund (NBXG) vote for Saba Capital's nominee, Paul Kazarian, to the Funds' Boards at the 2024 Joint Annual Meeting. ISS cited concerns with NBH's governance, performance, and fees, noting its significant NAV discount deterioration and underperformance. For NBXG, ISS highlighted performance issues and the Board's disregard for shareholder will. ISS concluded Saba "has presented a compelling case for change" at both Funds. Saba, the largest shareholder, aims to address persistent trading discounts and prioritize shareholder interests.
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