Latest news with #Form1099-DIV
Yahoo
a day ago
- Business
- Yahoo
Japan Smaller Capitalization Fund, Inc. Announces Initiatives to Enhance Shareholder Value
10% Annual Rate Level Distribution Policy Conditional Tender Offer for 10% of Outstanding Shares NEW YORK, June 06, 2025 (GLOBE NEWSWIRE) -- Japan Smaller Capitalization Fund, Inc. (the 'Fund') (NYSE: JOF) today announced that its Board of Directors (the 'Board') has approved two initiatives aimed at addressing the Fund's trading discount. These initiatives include a level distribution plan and a conditional tender offer. The Board believes these actions reflect the Fund's ongoing commitment to enhancing shareholder value, delivering competitive performance, and providing consistent distributions to long-term shareholders. The plan (the 'Plan') includes (i) implementation of a Level Distribution Plan (the 'LDP') to pay monthly distributions at a 10% annual rate to provide more of the Fund's total return in the form of distributions, and (ii) a conditional tender offer (the 'CTO') of 10% of its outstanding shares. Level Distribution Plan The Board has approved a Level Distribution Plan under which the Fund will pay monthly distributions at an annualized rate of 10% of the Fund's Net Asset Value ('NAV') as of May 31, 2025. The Fund is declaring a monthly distribution of $0.0887 per common share for each of July, August and September. The Fund's distribution details are as follows: Record Date Ex-Dividend Date Payment Date Distribution Amount July 15, 2025 July 15, 2025 July 31, 2025 $ 0.0887 August 15, 2025 August 15, 2025 August 29, 2025 $ 0.0887 September 15, 2025 September 15, 2025 September 30, 2025 $ 0.0887 The LDP is intended to provide shareholders with a constant, though not guaranteed, fixed rate of distribution each month. In approving the LDP, the Board considered, among other factors, the potential impact of the LDP as a tool to narrow the discount to NAV at which the Fund's shares have historically traded, the Fund's ability to sustain the LDP, and the possibility that making regular distributions could enhance liquidity for common shareholders and potentially attract new investors. Distributions will be made primarily in cash but under the Fund's dividend-reinvestment plan, distributions will be made in Fund shares unless a shareholder has elected to receive cash. Shares held with a broker-dealer will receive distributions in cash. Under the LDP, distributions may be derived from any combination of: (i) net investment income, (ii) realized capital gains, and/or (iii) a return of shareholder capital. The actual composition for each fiscal year will be reported to shareholders on Form 1099-DIV after year-end. Estimates provided in any monthly notice or in this press release are not intended for tax-reporting purposes and should not be relied upon as such. The Fund cannot predict what effect, if any, the LDP will have on the market price of its shares, or whether such market price will trade at a narrower or wider discount to NAV compared to levels prior to the Plan's adoption. Conditional Tender Offer In addition to the LDP, the Board approved a Conditional Tender Offer. The Fund will launch a tender offer for 10% of its outstanding shares, provided that the Fund's shares trade at an average daily market price discount of 9% or greater to NAV during the nine-month measurement period beginning on July 1, 2025 and ending on March 31, 2026 (the 'Measurement Period'). At the end of the Measurement Period, the Fund will announce additional details about the tender offer, as appropriate. In approving the CTO, the Board considered, among other factors, that a rules-based approach gives shareholders clear, time-bounded relief if the discount persists, the complementary nature of the CTO with the LDP, the reinforcement of the Fund's commitment to shareholder-friendly capital management, and the offer of meaningful liquidity to shareholders. There can be no guarantee that these benefits will occur or that any improvement will continue. The Board may terminate or modify the parameters of the Plan at any time without prior notice to the Fund's shareholders if circumstances warrant. The amendment or termination of the Plan could have an adverse effect on the market price of the Fund's common shares. To assist the Board in its evaluation of the LDP, the CTO, and other potential corporate actions, the Fund engaged an unaffiliated financial adviser with significant closed-end fund expertise. The professional fees associated with this limited-duration engagement will be borne by the Fund and are expected to result in a short-term increase in the Fund's expense ratio. Investment Outlook While overall earnings growth is expected to be higher in the United States, the Japanese market is expected to have growth rates comparable to the United States in most sectors besides the Industrials sector. Nomura Asset Management Co., Ltd. ('NAM') believes Return on Equity ('ROE') is on an upward trend in Japan, supported by improvements in profit margins and revenue growth. NAM expects share buybacks and dividend increases will continue to raise the financial leverage. With ongoing corporate reforms, there is a potential for ROE to rise further. Japan remains one of the most attractive markets for individual stock selection due to a lack of coverage. Continued Focus on Long-Term Value Today's announcement represents the Fund's objective to deliver competitive performance and stable distributions to shareholders. The Board and Nomura Asset Management U.S.A. Inc. ('NAM-U.S.A.') remain committed to delivering long-term value creation and addressing the interests of our shareholders. About the Fund The Fund invests primarily in the securities of smaller capitalization companies in Japan and is designed for investors seeking long-term capital appreciation. The Manager of the Fund is NAM-U.S.A., which is based in New York. NAM-U.S.A. is a subsidiary of NAM, which is one of the largest investment advisory companies in Japan in terms of assets under management and serves as the investment adviser to the Fund. Forward Looking Statements Certain information discussed in this press release may constitute forward-looking statements within the meaning of U.S. federal securities laws. Although the Fund and NAM-U.S.A. believe that the expectations reflected in such forward-looking statements are based on reasonable assumptions, the Fund and NAM-U.S.A. can give no assurance that their expectations will be achieved. Forward-looking information is subject to certain risks, trends, and uncertainties that could cause actual results to differ materially from those projected. Contact: Maria Premole 1-800-833-0018 JOFInvestorRelations@ in to access your portfolio
Yahoo
a day ago
- Business
- Yahoo
Japan Smaller Capitalization Fund, Inc. Announces Initiatives to Enhance Shareholder Value
10% Annual Rate Level Distribution Policy Conditional Tender Offer for 10% of Outstanding Shares NEW YORK, June 06, 2025 (GLOBE NEWSWIRE) -- Japan Smaller Capitalization Fund, Inc. (the 'Fund') (NYSE: JOF) today announced that its Board of Directors (the 'Board') has approved two initiatives aimed at addressing the Fund's trading discount. These initiatives include a level distribution plan and a conditional tender offer. The Board believes these actions reflect the Fund's ongoing commitment to enhancing shareholder value, delivering competitive performance, and providing consistent distributions to long-term shareholders. The plan (the 'Plan') includes (i) implementation of a Level Distribution Plan (the 'LDP') to pay monthly distributions at a 10% annual rate to provide more of the Fund's total return in the form of distributions, and (ii) a conditional tender offer (the 'CTO') of 10% of its outstanding shares. Level Distribution Plan The Board has approved a Level Distribution Plan under which the Fund will pay monthly distributions at an annualized rate of 10% of the Fund's Net Asset Value ('NAV') as of May 31, 2025. The Fund is declaring a monthly distribution of $0.0887 per common share for each of July, August and September. The Fund's distribution details are as follows: Record Date Ex-Dividend Date Payment Date Distribution Amount July 15, 2025 July 15, 2025 July 31, 2025 $ 0.0887 August 15, 2025 August 15, 2025 August 29, 2025 $ 0.0887 September 15, 2025 September 15, 2025 September 30, 2025 $ 0.0887 The LDP is intended to provide shareholders with a constant, though not guaranteed, fixed rate of distribution each month. In approving the LDP, the Board considered, among other factors, the potential impact of the LDP as a tool to narrow the discount to NAV at which the Fund's shares have historically traded, the Fund's ability to sustain the LDP, and the possibility that making regular distributions could enhance liquidity for common shareholders and potentially attract new investors. Distributions will be made primarily in cash but under the Fund's dividend-reinvestment plan, distributions will be made in Fund shares unless a shareholder has elected to receive cash. Shares held with a broker-dealer will receive distributions in cash. Under the LDP, distributions may be derived from any combination of: (i) net investment income, (ii) realized capital gains, and/or (iii) a return of shareholder capital. The actual composition for each fiscal year will be reported to shareholders on Form 1099-DIV after year-end. Estimates provided in any monthly notice or in this press release are not intended for tax-reporting purposes and should not be relied upon as such. The Fund cannot predict what effect, if any, the LDP will have on the market price of its shares, or whether such market price will trade at a narrower or wider discount to NAV compared to levels prior to the Plan's adoption. Conditional Tender Offer In addition to the LDP, the Board approved a Conditional Tender Offer. The Fund will launch a tender offer for 10% of its outstanding shares, provided that the Fund's shares trade at an average daily market price discount of 9% or greater to NAV during the nine-month measurement period beginning on July 1, 2025 and ending on March 31, 2026 (the 'Measurement Period'). At the end of the Measurement Period, the Fund will announce additional details about the tender offer, as appropriate. In approving the CTO, the Board considered, among other factors, that a rules-based approach gives shareholders clear, time-bounded relief if the discount persists, the complementary nature of the CTO with the LDP, the reinforcement of the Fund's commitment to shareholder-friendly capital management, and the offer of meaningful liquidity to shareholders. There can be no guarantee that these benefits will occur or that any improvement will continue. The Board may terminate or modify the parameters of the Plan at any time without prior notice to the Fund's shareholders if circumstances warrant. The amendment or termination of the Plan could have an adverse effect on the market price of the Fund's common shares. To assist the Board in its evaluation of the LDP, the CTO, and other potential corporate actions, the Fund engaged an unaffiliated financial adviser with significant closed-end fund expertise. The professional fees associated with this limited-duration engagement will be borne by the Fund and are expected to result in a short-term increase in the Fund's expense ratio. Investment Outlook While overall earnings growth is expected to be higher in the United States, the Japanese market is expected to have growth rates comparable to the United States in most sectors besides the Industrials sector. Nomura Asset Management Co., Ltd. ('NAM') believes Return on Equity ('ROE') is on an upward trend in Japan, supported by improvements in profit margins and revenue growth. NAM expects share buybacks and dividend increases will continue to raise the financial leverage. With ongoing corporate reforms, there is a potential for ROE to rise further. Japan remains one of the most attractive markets for individual stock selection due to a lack of coverage. Continued Focus on Long-Term Value Today's announcement represents the Fund's objective to deliver competitive performance and stable distributions to shareholders. The Board and Nomura Asset Management U.S.A. Inc. ('NAM-U.S.A.') remain committed to delivering long-term value creation and addressing the interests of our shareholders. About the Fund The Fund invests primarily in the securities of smaller capitalization companies in Japan and is designed for investors seeking long-term capital appreciation. The Manager of the Fund is NAM-U.S.A., which is based in New York. NAM-U.S.A. is a subsidiary of NAM, which is one of the largest investment advisory companies in Japan in terms of assets under management and serves as the investment adviser to the Fund. Forward Looking Statements Certain information discussed in this press release may constitute forward-looking statements within the meaning of U.S. federal securities laws. Although the Fund and NAM-U.S.A. believe that the expectations reflected in such forward-looking statements are based on reasonable assumptions, the Fund and NAM-U.S.A. can give no assurance that their expectations will be achieved. Forward-looking information is subject to certain risks, trends, and uncertainties that could cause actual results to differ materially from those projected. Contact: Maria Premole 1-800-833-0018 JOFInvestorRelations@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 days ago
- Business
- Yahoo
Templeton Dragon Fund, Inc. ("TDF") Announces Distribution
FORT LAUDERDALE, Fla., June 06, 2025--(BUSINESS WIRE)--Templeton Dragon Fund, Inc. (NYSE: TDF) today announced a quarterly distribution from net investment income of $0.10 per share, payable on June 30, 2025, to shareholders of record on June 16, 2025 (Ex-Dividend Date: June 16, 2025). The Fund's Board of Trustees (the "Board") has authorized a Managed Distribution Plan (the "Plan"), under which the Fund will make quarterly distributions to shareholders at a fixed rate of $0.10 per share. The Plan aims to provide shareholders with consistent quarterly distributions derived from ordinary income and short-term capital gains generated by the Fund's investment portfolio. Additionally, the Plan seeks to narrow the discount between the market price and the net asset value ("NAV") of the Fund's common shares, although success in this regard cannot be guaranteed. In the event that sufficient distributable income is not available on a quarterly basis, the Fund will distribute long-term capital gains and/or return of capital to maintain its managed distribution rate. A return of capital may occur when some or all of the invested capital is paid back to shareholders. It is important to note that a return of capital distribution does not necessarily reflect the Fund's investment performance and should not be confused with "yield" or "income." Even if the Fund realizes capital gains in the current year, such gains may be offset, in whole or in part, by the Fund's capital loss carryovers from prior years. The Board may amend the terms of the Plan or terminate the Plan at any time without prior notice to the Fund's shareholders. The amendment or termination of the Plan could have an adverse effect on the market price of the Fund's common shares. The Plan will be subject to periodic review by the Board, including a yearly review of the fixed rate to determine if an adjustment should be made. Shareholders should not draw any conclusions about the Fund's investment performance from the amount of the current distribution or from the terms of the Plan. The amounts and sources of distributions reported herein are only estimates and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon the Fund's investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund will send a Form 1099-DIV to shareholders for the calendar year that will describe how to report the Fund's distributions for federal income tax purposes. For further information on Templeton Emerging Markets Income Fund, please visit our web site at: Franklin Resources, Inc. is a global investment management organization with subsidiaries operating as Franklin Templeton and serving clients in over 150 countries. Franklin Templeton's mission is to help clients achieve better outcomes through investment management expertise, wealth management and technology solutions. Through its specialist investment managers, the company offers specialization on a global scale, bringing extensive capabilities in fixed income, equity, alternatives and multi-asset solutions. With more than 1,500 investment professionals, and offices in major financial markets around the world, the California-based company has over 75 years of investment experience and $1.53 trillion in assets under management as of April 30, 2025. For more information, please visit View source version on Contacts For more information, please contact Franklin Templeton at 1-800-342-5236.
Business Wire
2 days ago
- Business
- Business Wire
Templeton Dragon Fund, Inc. ('TDF') Announces Distribution
FORT LAUDERDALE, Fla.--(BUSINESS WIRE)-- Templeton Dragon Fund, Inc. (NYSE: TDF) The Fund's Board of Trustees (the 'Board') has authorized a Managed Distribution Plan (the 'Plan'), under which the Fund will make quarterly distributions to shareholders at a fixed rate of $0.10 per share. The Plan aims to provide shareholders with consistent quarterly distributions derived from ordinary income and short-term capital gains generated by the Fund's investment portfolio. Additionally, the Plan seeks to narrow the discount between the market price and the net asset value ('NAV') of the Fund's common shares, although success in this regard cannot be guaranteed. In the event that sufficient distributable income is not available on a quarterly basis, the Fund will distribute long-term capital gains and/or return of capital to maintain its managed distribution rate. A return of capital may occur when some or all of the invested capital is paid back to shareholders. It is important to note that a return of capital distribution does not necessarily reflect the Fund's investment performance and should not be confused with 'yield' or 'income.' Even if the Fund realizes capital gains in the current year, such gains may be offset, in whole or in part, by the Fund's capital loss carryovers from prior years. The Board may amend the terms of the Plan or terminate the Plan at any time without prior notice to the Fund's shareholders. The amendment or termination of the Plan could have an adverse effect on the market price of the Fund's common shares. The Plan will be subject to periodic review by the Board, including a yearly review of the fixed rate to determine if an adjustment should be made. Shareholders should not draw any conclusions about the Fund's investment performance from the amount of the current distribution or from the terms of the Plan. The amounts and sources of distributions reported herein are only estimates and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon the Fund's investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund will send a Form 1099-DIV to shareholders for the calendar year that will describe how to report the Fund's distributions for federal income tax purposes. For further information on Templeton Emerging Markets Income Fund, please visit our web site at: Franklin Resources, Inc. is a global investment management organization with subsidiaries operating as Franklin Templeton and serving clients in over 150 countries. Franklin Templeton's mission is to help clients achieve better outcomes through investment management expertise, wealth management and technology solutions. Through its specialist investment managers, the company offers specialization on a global scale, bringing extensive capabilities in fixed income, equity, alternatives and multi-asset solutions. With more than 1,500 investment professionals, and offices in major financial markets around the world, the California-based company has over 75 years of investment experience and $1.53 trillion in assets under management as of April 30, 2025. For more information, please visit
Yahoo
2 days ago
- Business
- Yahoo
Templeton Emerging Markets Income Fund ("TEI" or the "Fund") Announces Distribution
FORT LAUDERDALE, Fla., June 06, 2025--(BUSINESS WIRE)--Templeton Emerging Markets Income Fund [NYSE: TEI] today announced a monthly distribution from net investment income of $0.0475 per share, payable on June 30, 2025, to shareholders of record on June 16, 2025 (Ex-Dividend Date: June 16, 2025). The Fund's Board of Trustees (the "Board") has authorized a managed distribution plan (the "Plan") pursuant to which the Fund makes monthly distributions to shareholders at the fixed rate of $0.0475 per share. The Plan is intended to provide shareholders with consistent distributions each month and is intended to narrow the discount between the market price and the net asset value ("NAV") of the Fund's common shares, but there can be no assurance that the Plan will be successful in doing so. The Fund is managed with a goal of generating as much of the distribution as possible from net ordinary income and short-term capital gains, that is consistent with the Fund's investment strategy and risk profile. To the extent that sufficient distributable income is not available on a monthly basis, the Fund will distribute long-term capital gains and/or return of capital in order to maintain its managed distribution rate. A return of capital may occur, for example, when some or all of the money that was invested in the Fund is paid back to shareholders. A return of capital distribution does not necessarily reflect the Fund's investment performance and should not be confused with "yield" or "income". Even though the Fund may realize current year capital gains, such gains may be offset, in whole or in part, by the Fund's capital loss carryovers from prior years. The Board may amend the terms of the Plan or terminate the Plan at any time without prior notice to the Fund's shareholders. The amendment or termination of the Plan could have an adverse effect on the market price of the Fund's common shares. The Plan will be subject to the periodic review by the Board, including a yearly review of the fixed rate to determine if an adjustment should be made. Shareholders should not draw any conclusions about the Fund's investment performance from the amount of the current distribution or from the terms of the Plan. The amounts and sources of distributions reported herein are only estimates and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon the Fund's investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund will send a Form 1099-DIV to shareholders for the calendar year that will describe how to report the Fund's distributions for federal income tax purposes. For further information on Templeton Emerging Markets Income Fund, please visit our web site at: Franklin Resources, Inc. is a global investment management organization with subsidiaries operating as Franklin Templeton and serving clients in over 150 countries. Franklin Templeton's mission is to help clients achieve better outcomes through investment management expertise, wealth management and technology solutions. Through its specialist investment managers, the company offers specialization on a global scale, bringing extensive capabilities in fixed income, equity, alternatives and multi-asset solutions. With more than 1,500 investment professionals, and offices in major financial markets around the world, the California-based company has over 75 years of investment experience and $1.53 trillion in assets under management as of April 30, 2025. For more information, please visit View source version on Contacts For more information, please contact Franklin Templeton at 1-800-342-5236.
