Latest news with #distribution
Globe and Mail
a day ago
- Business
- Globe and Mail
XAI Octagon Floating Rate & Alternative Income Trust Declares its Monthly Common Shares Distribution of $0.070 per Share
CHICAGO, June 02, 2025 (GLOBE NEWSWIRE) -- XAI Octagon Floating Rate & Alternative Income Trust (the 'Trust') has declared its regular monthly distribution of $0.070 per share on the Trust's common shares (NYSE: XFLT), payable on July 1, 2025, to common shareholders of record as of June 16, 2025, as noted below. The amount of the distribution represents a 9.09% decrease from the previous month's distribution amount of $0.077 per share. The Trust's investment objective is to seek attractive total return with an emphasis on income generation across multiple stages of the credit cycle. Due to recent market volatility, the loan and CLO asset classes have experienced drastic interest rate spread compression, which has negatively impacted asset class yields. In the most recent quarter, market conditions were marked by heightened volatility stemming from tariff developments and ongoing trade tensions. With the new distribution amount of $0.070 per share, the Trust's annualized distribution rate on market price was 14.51% and the annualized distribution rate on NAV is 13.86% as of market close on May 30, 2025. The following dates apply to the declaration: Common share distributions may be paid from net investment income (regular interest and dividends), capital gains and/or a return of capital. The specific tax characteristics of the distributions will be reported to the Trust's common shareholders on Form 1099 after the end of the 2025 calendar year. Shareholders should not assume that the source of a distribution from the Trust is net income or profit. For further information regarding the Trust's distributions, please visit XFLT Q1 Webinar The Trust plans to host its Quarterly Webinar on June 4, 2025, at 12:00 pm (Eastern Time). Kevin Davis, Managing Director at XA Investments will moderate the Q&A style webinar with Kimberly Flynn, President at XA Investments, and Lauren Law, Senior Portfolio Manager at Octagon Credit Investors. TO JOIN VIA WEB: Please go to the Knowledge Bank section of or click here to find the online registration link. TO USE YOUR TELEPHONE: After joining via web, if you prefer to use your phone for audio, you must select that option and call in using a number below, based on your current location. Dial: (312) 626-6799 or (646) 558-8656 or (267) 831-0333 or (213) 338-8477 or (720) 928-9299 Webinar ID: 817 1030 7383 REPLAY: A replay of the webinar will be available in the Knowledge Bank section of The Trust's net investment income and capital gain can vary significantly over time; however, the Trust seeks to maintain more stable common share monthly distributions over time. The Trust's investments in CLOs are subject to complex tax rules and the calculation of taxable income attributed to an investment in CLO subordinated notes can be dramatically different from the calculation of income for financial reporting purposes under accounting principles generally accepted in the United States ('U.S. GAAP'), and, as a result, there may be significant differences between the Trust's GAAP income and its taxable income. The Trust's final taxable income for the current fiscal year will not be known until the Trust's tax returns are filed. As a registered investment company, the Trust is subject to a 4% excise tax that is imposed if the Trust does not distribute to common shareholders by the end of any calendar year at least the sum of (i) 98% of its ordinary income (not taking into account any capital gain or loss) for the calendar year and (ii) 98.2% of its capital gain in excess of its capital loss (adjusted for certain ordinary losses) for a one-year period generally ending on October 31 of the calendar year (unless an election is made to use the Trust's fiscal year). In certain circumstances, the Trust may elect to retain income or capital gain to the extent that the Board of Trustees, in consultation with Trust management, determines it to be in the interest of shareholders to do so. The common share distributions paid by the Trust for any particular period may be more than the amount of net investment income from that period. As a result, all or a portion of a distribution may be a return of capital, which is in effect a partial return of the amount a common shareholder invested in the Trust, up to the amount of the common shareholder's tax basis in their common shares, which would reduce such tax basis. Although a return of capital may not be taxable, it will generally increase the common shareholder's potential gain, or reduce the common shareholder's potential loss, on any subsequent sale or other disposition of common shares. The distribution shall be paid on the Payment Date unless the payment of such distribution is deferred by the Board of Trustees upon a determination that such deferral is required in order to comply with applicable law to ensure that the Trust remains solvent and able to pay its debts as they become due and continue as a going concern, or to comply with the applicable terms or financial covenants of the Trust's senior securities. Future common share distributions will be made if and when declared by the Trust's Board of Trustees, based on a consideration of a number of factors, including the Trust's continued compliance with terms and financial covenants of its senior securities, the Trust's net investment income, financial performance and available cash. There can be no assurance that the amount or timing of common share distributions in the future will be equal or similar to that described herein or that the Board of Trustees will not decide to suspend or discontinue the payment of common share distributions in the future. The investment objective of the Trust is to seek attractive total return with an emphasis on income generation across multiple stages of the credit cycle. The Trust seeks to achieve its investment objective by investing in a dynamically managed portfolio of opportunities primarily within the private credit markets. Under normal market conditions, the Trust will invest at least 80% of its Managed Assets in floating rate credit instruments and other structured credit investments. There can be no assurance that the Trust will achieve its investment objective. The Trust's common shares are traded on the New York Stock Exchange under the symbol 'XFLT,' and the Trust's 6.50% Series 2026 Term Preferred Shares are traded on the New York Stock Exchange under the symbol 'XFLTPRA'. About XA Investments XA Investments LLC ('XAI') serves as the Trust's investment adviser. XAI is a Chicago-based firm founded by XMS Capital Partners in 2016. XAI serves as the investment adviser for two listed closed-end funds and an interval closed-end fund. The listed closed-end funds, the XAI Octagon Floating Rate & Alternative Income Trust and XAI Madison Equity Premium Income Fund both trade on the New York Stock Exchange and the interval fund, Octagon XAI CLO Income Fund is available via direct subscription and through select broker/dealers and wealth management platforms. In addition to investment advisory services, the firm also provides investment fund structuring and consulting services focused on registered closed-end funds to meet institutional client needs. XAI offers custom product build and consulting services, including development and market research, sales, marketing, fund management. XAI believes that the investing public can benefit from new vehicles to access a broad range of alternative investment strategies and managers. XAI provides individual investors with access to institutional-caliber alternative managers. For more information, please visit About XMS Capital Partners XMS Capital Partners, LLC, established in 2006, is a global, independent, financial services firm providing M&A, corporate advisory and asset management services to clients. It has offices in Chicago, Boston and London. For more information, please visit About Octagon Credit Investors Octagon Credit Investors, LLC ('Octagon') serves as the Trust's investment sub-adviser. Octagon is a 25+ year old, $32.1B below-investment grade corporate credit investment adviser focused on leveraged loan, high yield bond and structured credit (CLO debt and equity) investments. Through fundamental credit analysis and active portfolio management, Octagon's investment team identifies attractive relative value opportunities across below-investment grade asset classes, sectors and issuers. Octagon's investment philosophy and methodology encourage and rely upon dynamic internal communication to manage portfolio risk. Over its history, the firm has applied a disciplined, repeatable and scalable approach in its effort to generate attractive risk-adjusted returns for its investors. For more information, please visit XAI does not provide tax advice; please consult a professional tax advisor regarding your specific tax situation. Income may be subject to state and local taxes, as well as the federal alternative minimum tax. Investors should consider the investment objectives and policies, risk considerations, charges and expenses of the Trust carefully before investing. For more information on the Trust, please visit the Trust's webpage at This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer or solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction. Paralel Distributors, LLC - Distributor Media Contact: Kimberly Flynn, President XA Investments LLC Phone: 888-903-3358 Email: KFlynn@
Globe and Mail
a day ago
- Business
- Globe and Mail
Montero to hold Special Meeting of Shareholders to approve C$15 million Distribution
TORONTO, June 02, 2025 (GLOBE NEWSWIRE) -- Montero Mining and Exploration Ltd. (TSX-V: MON) (OTCPK: MXTRF) (' Montero ' or the ' Company ') reminds shareholders that a Special Meeting of Shareholders (the ' Meeting ') will be held at 9:30am EDT on Wednesday, June 11, 2025, at the offices of Peterson McVicar LLP at 110 Yonge Street, Suite 1601, Toronto, Ontario, Canada. Shareholders will vote on a proposed approximately C$15 million distribution, on a pro rata basis, through a reduction in stated capital (the ' Distribution '). These funds represent part of the net proceeds from the Company's US$27 million settlement with the United Republic of Tanzania, which resolved the dispute over the expropriation of the Wigu Hill rare earth element project. The Company's management information circular dated May 7, 2025 (the 'Circular') outlines the details of the proposed Distribution. Shareholders are encouraged to vote in advance of the Meeting. To guarantee a vote is recorded, kindly submit the proxy by 9.30 am EDT on Monday, June 9, 2025, in accordance with the instructions provided in the proxy form. The Circular, form of proxy and related meeting materials can be accessed on Montero's issuer profile on SEDAR+ at as well as Montero's website About Montero Montero Mining and Exploration Ltd. is a Canadian exploration company with a focus on mineral development in emerging markets. The Company recently concluded a US$27 million settlement with the Government of Tanzania, bringing closure to the dispute over the expropriated Wigu Hill rare earth project. Montero holds the Avispa copper-molybdenum project in northern Chile and is currently advancing the project through exploration. The Company's board and management have a strong track record in discovering and developing precious metal and base metal projects. Montero is listed on the TSX Venture Exchange under the symbol MON and has 8,353,833 Common Shares and 741,667 stock options outstanding. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. All figures are in Canadian dollars unless otherwise noted. CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain "forward-looking information" within the meaning of applicable Canadian securities laws. Generally, forward-looking information can be identified by the use of forward-looking terminology such as 'plans', 'expects' or 'does not expect', 'is expected', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates' or 'does not anticipate', or 'believes', or variations of such words and phrases or state that certain actions, events or results 'may', 'could', 'would', 'might' or 'will be taken', 'occur' or 'be achieved'. Such information is based on information currently available to Montero and Montero provides no assurance that actual results will meet management's expectations. Forward-looking information by its very nature involves inherent risks and uncertainties that may cause the actual results, level of activity, performance, or achievements of Montero to be materially different from those expressed or implied by such forward-looking information. Actual results relating to, among other things, the Corporation's deployment of capital, business prospects, strategies, regulatory developments, future commodity prices, exchange rates, satisfactory arrangements for the payment of legal expenses, the ability of the Company to find suitable exploration projects, results of exploration, project development, reclamation and capital costs of Montero's mineral properties, and financial condition and prospects, all of which could differ materially from those currently anticipated in such statements for many reasons such as: the inability to receive shareholder approval for the Distribution; changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with Montero's activities; and other matters discussed in this news release and in filings made with securities regulators. This list is not exhaustive of the factors that may affect any of Montero's forward-looking statements. These and other factors should be considered carefully and accordingly, readers should not place undue reliance on forward-looking information. Montero does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
Associated Press
a day ago
- Business
- Associated Press
Allspring Utilities and High Income Fund
(ERH) CUSIP 94987E109 IMPORTANT NOTICE TO SHAREHOLDERS CHARLOTTE, N.C., June 2, 2025 /PRNewswire/ -- This Notice provides information about the sources of the Fund's monthly distributions. You should not draw any conclusions about the Fund's investment performance from the amount of this distribution or from the terms of the Fund's Managed Distribution Plan. The Fund estimates that it has distributed more than its income and net realized capital gains; therefore, a portion of your distribution may be a return of capital. A return of capital may occur, for example, when some or all of the money that you invested in the Fund is paid back to you. A return of capital distribution does not necessarily reflect the Fund's investment performance and should not be confused with 'yield' or 'income'. The amounts and sources of distributions reported in this Notice are only estimates and are not being provided for tax reporting purposes. Sources include net investment income (NII), short-term capital gains (ST), long-term capital gains (LT) and paid in capital. 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 you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes. The following table provides an estimate of the Fund's distribution sources, reflecting the fiscal year-to- date cumulative amount of distributions. The Fund attributes these estimates equally to each regular distribution throughout the year. Consequently, the estimated information as of the specified month-end shown below is for the current distribution, and also represents an updated estimate for all prior months in the year. The following table provides information regarding distributions and total return performance over various time periods. This information is intended to help you better understand whether returns for the specified time periods were sufficient to meet distributions. Additional Disclosures about the Allspring Closed-End Funds The fund makes distributions in accordance with a managed distribution plan that provides for the declaration of monthly distributions to common shareholders of the fund at an annual minimum fixed rate of 7.0%, based on the fund's average monthly net asset value (NAV) per share over the prior 12 months. Under the managed distribution plan, distributions are sourced from income and also may be sourced from paid-in capital and/or capital gains. The fund's distributions in any period may be more or less than the net return earned by the fund on its investments and therefore should not be used as a measure of performance or confused with yield or income. Distributions in excess of fund returns will cause the fund's NAV to decline. Investors should not draw any conclusions about the fund's investment performance from the amount of its distribution or from the terms of its managed distribution plan. The quoted distribution rate is a figure that uses the fund's previous distribution to calculate an annualized figure. The distribution rate is calculated by annualizing the last distribution and then dividing by the period-ending NAV or market price. Special distributions, including special capital gains distributions, are not included in the calculation. The Allspring Utilities and High Income Fund is a closed-end equity and high-yield bond fund. The fund's investment objective is to seek a high level of current income and moderate capital growth with an emphasis on providing tax-advantaged dividend income. The final determination of the source of all dividend distributions in the current year will be made after year-end. The actual amounts and sources of the amounts for tax-reporting purposes will depend upon a fund's investment experience during the remainder of the fiscal year and may be subject to change based on tax regulations. Each fund will send shareholders a Form 1099-DIV for the calendar year that will tell shareholders how to report these distributions for federal income tax purposes. For more information on Allspring's closed-end funds, please visit our website. This closed-end fund is no longer available as an initial public offering and is only offered through broker-dealers on the secondary market. A closed-end fund is not required to buy its shares back from investors upon request. Shares of the fund may trade at either a premium or discount relative to the fund's net asset value, and there can be no assurance that any discount will decrease. The values of, and/or the income generated by, securities held by the fund may decline due to general market conditions or other factors, including those directly involving the issuers of such securities. Equity securities fluctuate in value in response to factors specific to the issuer of the security. Debt securities are subject to credit risk and interest rate risk, and high yield securities and unrated securities of similar credit quality have a much greater risk of default and their values tend to be more volatile than higher-rated securities with similar maturities. The fund is also subject to risks associated with any concentration of its investments in the utility sector. Funds that concentrate their investments in a single industry or sector may face increased risk of price fluctuation due to adverse developments within that industry or sector. The fund is leveraged through a revolving credit facility and also may incur leverage by issuing preferred shares in the future. The use of leverage results in certain risks, including, among others, the likelihood of greater volatility of net asset value and the market price of common shares. Foreign investments may contain more risk due to the inherent risks associated with changing political climates, foreign market instability, and foreign currency fluctuations. Derivatives involve additional risks, including interest rate risk, credit risk, the risk of improper valuation, and the risk of noncorrelation to the relevant instruments they are designed to hedge or closely track. This material is for general informational and educational purposes only and is NOT intended to provide investment advice or a recommendation of any kind—including a recommendation for any specific investment, strategy, or plan. Some of the information contained herein may include forward-looking statements about the expected investment activities of the funds. These statements provide no assurance as to the funds' actual investment activities or results. Readers must make their own assessment of the information contained herein and consider such other factors as they may deem relevant to their individual circumstances. Allspring Global Investments™ is the trade name for the asset management firms of Allspring Global Investments Holdings, LLC, a holding company indirectly owned by certain private funds of GTCR LLC and Reverence Capital Partners, L.P. These firms include but are not limited to Allspring Global Investments, LLC, and Allspring Funds Management, LLC. Certain products managed by Allspring entities are distributed by Allspring Funds Distributor, LLC (a broker-dealer and Member FINRA/SIPC). ALL-05272025-i15uyapz © 2025 Allspring Global Investments Holdings, LLC. All rights reserved. View original content to download multimedia: SOURCE Allspring Global Investments
Tahawul Tech
2 days ago
- Business
- Tahawul Tech
Sariya Information Technology partners with Keystrike to expand cybersecurity solutions
Sariya Information Technology, a leading cybersecurity VAD, today announced the signing of a comprehensive distribution agreement with Keystrike, establishing a strategic partnership to deliver advanced security technologies throughout the Middle East region. Partnership Overview Under the terms of this agreement, Sariya Information Technology will serve as an official regional distributor for Keystrike's cybersecurity solutions, bringing cutting-edge security technologies to organisations across the Middle East. This partnership combines Sariya's deep regional market expertise with Keystrike's innovative security platforms to address the growing cybersecurity needs of enterprises in the region. Market Impact The Middle East cybersecurity market continues to experience rapid growth as organisations increasingly prioritize digital security infrastructure. This distribution partnership positions both companies to capitalise on expanding market opportunities while providing local organisations with access to world-class security solutions and support. 'We are excited to partner with Keystrike to bring their niche yet simple cybersecurity solutions to our regional market', said Nirmal Menon, Business Unit Manager at Sariya Information Technology. 'This agreement aligns with our commitment to providing our channel partners with the most effective security technologies available, backed by local expertise and support'. 'The Keystrike solutions fit very well with other cyber security solutions on the market. It is important for us to team up with trusted partners like Sariya-IT where they bundle our solutions with their existing products, providing a total solution for the clients. We are very excited about our cooperation on the mission to make our clients safe from cyber threats', said Leifur Saemundsson, Keystrike's general manager for the Middle East and Africa region. Technology Overview Modern breaches typically start by attacking the weakest link in every system, the people. Once successful they can impersonate the legitimate user once he opens a session to the servers and then the APTs can do whatever the user can do, bypassing MFAs, PAMs etc! Keystrike Solution: Making sure the commands received by the servers originate from the legitimate user by keystroke attestation, successfully blocking lateral movement, identifying and blocking APTs on their attempts to move laterally, securing the server and reporting to your SIEM tool that this workstation is compromised! Through this partnership, system integrators throughout the Middle East can help their clients to identify the APT compromised workstations on their first attempt to move laterally! Strategic Benefits The distribution agreement enables both organisations to leverage their respective strengths, with Sariya Information Technology's established regional presence complementing Keystrike's technology innovation capabilities. This collaboration is expected to accelerate market penetration and enhance customer satisfaction across the Middle East cybersecurity landscape. 'Partnering with Sariya Information Technology represents a significant step in expanding our Middle East presence', commented Saemundsson. 'Their proven track record in the region and commitment to customer success makes them an ideal partner for delivering our solutions to this important market'. Image Credit: Stock Image
NHK
4 days ago
- Business
- NHK
Expert sees little effect on rice prices from release of reserves
The agriculture ministry started distribution to retailers nationwide through fixed contracts. An expert says this may not be enough to bring down sky-high prices.
