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Saba Capital Income & Opportunities Fund II (NYSE: SABA) declared a monthly dividend of $0.029 per share on April 30, 2024, payable on May 31, 2024, to shareholders of record as of May 9, 2024. The managed distribution plan aims to provide a fixed amount per share monthly to narrow the discount between market price and net asset value.
Saba Capital Income & Opportunities Fund II (NYSE: SABA) announced the approval of an open market share repurchase program, a reverse stock split, and the declassification of the Board of Trustees. The repurchase program allows the Fund to buy back up to 10% of common shares annually to enhance shareholder value. The reverse stock split is set at a ratio of 1-for-2, and the Board declassification aligns governance with industry standards.
Saba Capital Income & Opportunities Fund II (SABA) has announced the notification of sources of distributions for shareholders, prospective shareholders, and third parties as per the Investment Company Act of 1940. The Fund's estimated sources of distribution for April 30, 2024, and fiscal year 2024 year-to-date reveal a return of capital to shareholders. Saba Capital Management, L.P. replaced Franklin Templeton Advisers, Inc. as the investment adviser effective January 1, 2024. The Fund's managed distribution plan aims to provide a fixed monthly distribution rate of $0.029 per share to narrow the discount between market price and net asset value.