Highland Global Allocation Fund (NYSE: HGLB) has recently declared monthly distributions of $0.081 per share, offering investors a consistent and attractive return on their investment. The distributions will be payable on the specified dates mentioned below.
Under the Fund’s level distribution policy, the annual distribution rate has been reset to 8.5% of the average net asset value (NAV) per share, as reported for the final five trading days of the 2023 calendar year. For the months of July through September 2024, the Fund will be distributing $0.081 per share.
The following dates have been set for the distributions:
– Ex-Date: July 23, 2024
Record Date: July 24, 2024
Payable Date: July 31, 2024
– Ex-Date: August 22, 2024
Record Date: August 23, 2024
Payable Date: August 30, 2024
– Ex-Date: September 20, 2024
Record Date: September 23, 2024
Payable Date: September 30, 2024
The Level Distribution Policy, approved by the Fund’s Board of Trustees in March 2019, ensures that monthly distributions to stockholders are made at a constant and fixed rate. The distribution rate is reset annually based on the average NAV per share for the final five trading days of the preceding month.
It is important to note that the Fund’s ability to maintain a stable level of distributions depends on various factors, including changes in the financial market, market interest rates, and overall equity and fixed-income market performance. As market conditions evolve, the Fund’s ability to continue making distributions in accordance with the Level Distribution Policy may be impacted.
Investors in the Highland Global Allocation Fund have the option to reinvest their distributions in additional common shares through the Fund’s Dividend Reinvestment Plan. Alternatively, they can choose to receive cash by contacting AST, their financial adviser, or their brokerage firm. Shareholders who prefer to receive cash must opt out of the Fund’s Dividend Reinvestment Plan.
The Fund may adjust the Level Distribution Policy, the Distribution Amount, or distribution intervals at any time, without prior notice to shareholders. It is worth noting that any changes to the Level Distribution Policy may affect the market price of the Fund’s shares of common stock.
The Highland Global Allocation Fund, managed by NexPoint Asset Management, L.P., aims to provide investors with consistent returns through its closed-end fund structure. NexPoint Asset Management, L.P. is an SEC-registered investment adviser that oversees a range of registered funds, including open-end mutual funds, closed-end funds, and an exchange-traded fund.
Investors considering the Highland Global Allocation Fund should carefully review the investment objectives, risks, charges, and expenses outlined in the Fund’s prospectus. The prospectus can be obtained by calling 1-866-745-0264 or visiting www.nexpointassetmgmt.com.