The Herzfeld Caribbean Basin Fund, Inc. Announces Revisions to Managed Distribution Plan
The Herzfeld Caribbean Basin Fund, Inc. Announces Revisions to Managed Distribution Plan
The Board has revised the Plan to provide for quarterly distributions, rather than monthly, at an annual rate (currently set at 15% of the Fund's NAV for the fiscal year ending June 30, 2019 payable in quarterly installments), and has determined to implement the Plan without seeking exemptive relief at this time. The Fund may apply for exemptive relief at a later date to the extent determined necessary or appropriate. Based on the Fund's NAV on June 30, 2019, the Fund expects to distribute $1.1385 during the current fiscal year ending June 30, 2020 in four quarterly installments of $.284625, the first of which is expected to be declared and paid in September 2019. Press Release: The Herzfeld Caribbean Basin Fund, Inc. Announces Revisions to Managed Distribution Plan
新聞稿：赫茲菲爾德加勒比海盆地基金公司宣佈修訂管理分銷計劃
The Herzfeld Caribbean Basin Fund, Inc. Announces Revisions to Managed Distribution Plan
赫茲菲爾德加勒比海盆地基金公司宣佈修訂管理分銷計劃
MIAMI BEACH, Fla., Aug. 08, 2019 (GLOBE NEWSWIRE) -- Thomas J. Herzfeld Advisors, Inc. ("TJHA"), an SEC registered investment advisor, today announced that the Board of Directors of The Herzfeld Caribbean Basin Fund, Inc. (NASDAQ: CUBA) (the "Fund") has revised the Fund's Managed Distribution Plan (the "Plan") announced on May 31, 2019.
邁阿密海灘，佛羅里達州，2019年8月8日(環球通訊社)--SEC註冊投資顧問公司Thomas J.Herzfeld Advisors，Inc.(以下簡稱TJHA)今天宣佈，Herzfeld加勒比海盆地基金公司(納斯達克股票代碼：CUBA)董事會已經修訂了2019年5月31日公佈的基金管理分銷計劃(以下簡稱“計劃”)。
The Board has revised the Plan to provide for quarterly distributions, rather than monthly, at an annual rate (currently set at 15% of the Fund's NAV for the fiscal year ending June 30, 2019 payable in quarterly installments), and has determined to implement the Plan without seeking exemptive relief at this time. The Fund may apply for exemptive relief at a later date to the extent determined necessary or appropriate. Based on the Fund's NAV on June 30, 2019, the Fund expects to distribute $1.1385 during the current fiscal year ending June 30, 2020 in four quarterly installments of $.284625, the first of which is expected to be declared and paid in September 2019.
董事會修訂了該計劃，按年率提供季度分配，而不是按月分配(目前設定為截至2019年6月30日的財政年度基金資產淨值的15%，按季度分期付款)，並決定在目前不尋求豁免救濟的情況下實施該計劃。基金可在決定需要或適當的範圍內，在稍後日期申請豁免濟助。根據基金2019年6月30日的資產淨值，基金預計將在截至2020年6月30日的當前財年內分四個季度分期付款1.1385美元，金額為0.284625美元，預計第一筆分期付款將於2019年9月申報並支付。
The primary purpose of the Plan is to provide stockholders with a constant, but not guaranteed, fixed minimum rate of distribution each quarter. The Fund cannot predict what effect, if any, the Plan will have on the market price of its shares or whether such market price will reflect a greater or lesser discount to net asset value as compared to prior to the adoption of the Plan.
該計劃的主要目的是為股東提供固定的、但沒有保證的、每個季度固定的最低分配率。基金無法預測該計劃將對其股票的市場價格產生什麼影響(如果有的話)，也無法預測與該計劃通過之前相比，該市場價格相對於資產淨值的折讓是更大還是更小。
Under the Plan, the Fund will distribute all available investment income to its stockholders, consistent with its investment objective and as required by the Internal Revenue Code of 1986, as amended (the "Code"). If sufficient investment income is not available on a quarterly basis, the Fund will distribute long-term capital gains and/or return capital to its stockholders in order to maintain its managed distribution level. Each quarterly distribution to shareholders is expected to be at the fixed amount established by the Board. However, the Fund may make additional distributions from time to time, including additional capital gain distributions at the end of the taxable year, if required to meet requirements imposed by the Code and/or the Investment Company Act of 1940 (the "1940 Act"). The Fund is currently not relying on any exemptive relief from Section 19(b) of the 1940 Act. The Fund expects that distributions under the Plan will exceed investment income and capital gain and thus expects that such distributions will likely include return of capital for the foreseeable future.
根據該計劃，基金將按照其投資目標和經修訂的1986年國內收入法(下稱“守則”)的要求，將所有可用投資收入分配給其股東。如果每季度沒有足夠的投資收入，基金將分配長期資本收益和/或將資本返還給股東，以維持其管理下的分配水平。預計每個季度分配給股東的金額將是董事會確定的固定數額。然而，基金可不時作出額外分配，包括在課税年度結束時進行額外資本收益分配，以符合守則及/或1940年“投資公司法”(“1940年法案”)所施加的要求。基金目前不依賴於1940年法案第19(B)條的任何豁免救濟。基金預計該計劃下的分配將超過投資收入和資本收益，因此預計這種分配在可預見的未來可能包括資本返還。
No conclusions should be drawn about the Fund's investment performance from the amount of the Fund's distributions or from the terms of the Plan.
不應從基金的分配金額或該計劃的條款對基金的投資業績作出任何結論。
The amount distributed per share is subject to change at the discretion of the Fund's Board of Directors. The Plan will be subject to ongoing review by the Board of Directors to determine whether the Managed Distribution Policy should be continued, modified or terminated. The Board of Directors may amend the terms of the Plan or suspend or terminate the Plan at any time without prior notice to the Fund's stockholders if it deems such actions to be in the best interest of the Fund or its stockholders. The amendment or termination of the Managed Distribution Policy could have an adverse effect on the market price of the Fund's shares.
每股分派的金額可能會由基金董事會酌情決定。該計劃將接受董事會的持續審查，以確定是否應繼續、修改或終止受管分銷政策。如果董事會認為這樣的行動最符合基金或其股東的利益，董事會可以隨時修改計劃的條款，或暫停或終止計劃，而無需事先通知基金的股東。管理分銷政策的修訂或終止可能會對基金股票的市場價格產生不利影響。
The Fund expects that a portion of the annual distribution will consist of a return of capital. A return of capital occurs when some or all of the money that stockholders invested in the Fund is paid back to them. A return of capital does not reflect the Fund's investment performance and should not be confused with "yield" or "income." Any such returns of capital will decrease the Fund's total assets and, therefore, could have the effect of increasing the Fund's expense ratio. In addition, in order to make the level of distributions called for under its Plan, the Fund may have to sell portfolio securities at a less than opportune time.
基金預計，年度分配的一部分將包括資本返還。當股東投資於基金的部分或全部資金返還給他們時，就會出現資本返還。資本回報不能反映基金的投資表現，不應與“收益”或“收益”混為一談。任何這樣的資本回報都會減少基金的總資產，因此可能會提高基金的費用比率。此外，為了達到其計劃要求的分配水平，基金可能不得不在不太合適的時候出售投資組合證券。
Distributions designated as return-of-capital are not taxed as ordinary income dividends and are referred to as tax-free dividends or nontaxable distributions. A return-of-capital distribution reduces the cost basis of an investor's shares in the Fund.
被指定為資本回報的分配不作為普通收入股息徵税，被稱為免税股息或非應税分配。資本回報分配降低了投資者在基金中股票的成本基礎。
With each distribution that does not consist solely of net investment income, the Fund will issue a notice to stockholders and an accompanying press release that will provide detailed information regarding the amount and composition of the distribution and other related information. The amounts and sources of distributions reported in the notice to stockholders 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 its full fiscal year and may be subject to changes based on tax regulations. The Fund will send stockholders a Form 1099-DIV for the respective calendar year that will tell them how to report these distributions for federal income tax purposes. Stockholders should consult their tax advisor for proper tax treatment of the Fund's distributions.
對於不完全由淨投資收入組成的每項分配，基金將向股東發出通知和隨附的新聞稿，提供有關分配金額和構成的詳細信息以及其他相關信息。在發給股東的通知中報告的分配金額和來源只是估計數字，並不是為了納税申報目的而提供的。用於納税申報的實際金額和來源將取決於基金在整個財政年度的投資經驗，可能會根據税務條例而發生變化。該基金將向股東發送各自歷年的1099-DIV表格，告訴他們如何報告這些分配，以便繳納聯邦所得税。股東應諮詢他們的税務顧問，以便對基金的分配進行適當的税務處理。
About Thomas J. Herzfeld Advisors, Inc.
托馬斯·J·赫茲菲爾德顧問公司簡介
Thomas J. Herzfeld Advisors, Inc., founded in 1984, is an SEC registered investment advisor, specializing in investment analysis and account management in closed-end funds. The Firm also specializes in investment in the Caribbean Basin. The HERZFELD/CUBA division of Thomas J. Herzfeld Advisors, Inc. serves as the investment advisor to The Herzfeld Caribbean Basin Fund, Inc. a publicly traded closed-end fund (NASDAQ: CUBA).
Thomas J.Herzfeld Advisors，Inc.成立於1984年，是SEC註冊的投資顧問，專門從事封閉式基金的投資分析和賬户管理。該公司還專門從事加勒比海盆地的投資。托馬斯·J·赫茲菲爾德顧問公司(Thomas J.Herzfeld Advisors，Inc.)的赫茲菲爾德/古巴分部是赫茲菲爾德加勒比海盆地基金公司(Herzfeld加勒比海盆地基金公司)的投資顧問，赫茲菲爾德加勒比海盆地基金公司是一家上市封閉式基金(納斯達克市場代碼：CUBA)。
More information about the advisor can be found at www.herzfeld.com.
有關該顧問的更多信息，請訪問www.herzFeld.com。
Past performance is no guarantee of future performance. An investment in the Fund is subject to certain risks, including market risk. In general, shares of closed-end funds often trade at a discount from their net asset value and at the time of sale may be trading on the exchange at a price which is more or less than the original purchase price or the net asset value. An investor should carefully consider the Fund's investment objective, risks, charges and expenses. Please read the Fund's disclosure documents before investing.
過去的表現並不能保證未來的表現。基金的投資是有一定風險的，包括市場風險。一般來説，封閉式基金的股票交易價格往往低於其資產淨值，在出售時，股票在交易所的交易價格可能或多或少低於最初的買入價或資產淨值。投資者應審慎考慮基金的投資目標、風險、收費和開支。請在投資前閲讀基金的披露文件。
Forward-Looking Statements
前瞻性陳述
This press release, and other statements that TJHA or the Fund may make, may contain forward looking statements within the meaning of the Private Securities Litigation Reform Act, with respect to the Fund's or TJHA's future financial or business performance, strategies or expectations. Forward-looking statements are typically identified by words or phrases such as "trend," "potential," "opportunity," "pipeline," "believe," "comfortable," "expect," "anticipate," "current," "intention," "estimate, " "position," "assume," "outlook," "continue," "remain," "maintain," "sustain," "seek," "achieve," and similar expressions, or future or conditional verbs such as "will," "would," "should," "could," "may" or similar expressions. TJHA and the Fund caution that forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time. Forward-looking statements speak only as of the date they are made, and TJHA and the Fund assume no duty to and do not undertake to update forward-looking statements. Actual results could differ materially from those anticipated in forward-looking statements and future results could differ materially from historical performance. With respect to the Fund, the following factors, among others, could cause actual events to differ materially from forward-looking statements or historical performance: (1) changes and volatility in political, economic or industry conditions, particularly with respect to Cuba and other Caribbean Basin countries, the interest rate environment, foreign exchange rates or financial and capital markets, which could result in changes in demand for the Fund or in the Fund's net asset value; (2) the relative and absolute investment performance of the Fund and its investments; (3) the impact of increased competition; (4) the unfavorable resolution of any legal proceedings; (5) the extent and timing of any distributions or share repurchases; (6) the impact, extent and timing of technological changes; (7) the impact of legislative and regulatory actions and reforms, including the Dodd-Frank Wall Street Reform and Consumer Protection Act, and regulatory, supervisory or enforcement actions of government agencies relating to the Fund or TJHA, as applicable; (8) terrorist activities, international hostilities and natural disasters, which may adversely affect the general economy, domestic and local financial and capital markets, specific industries or TJHA or the Fund; (9) TJHA's and the Fund's ability to attract and retain highly talented professionals; (10) the impact of TJHA electing to provide support to its products from time to time; and (11) the impact of problems at other financial institutions or the failure or negative performance of products at other financial institutions. Annual and Semi-Annual Reports and other regulatory filings of the Fund with the SEC are accessible on the SEC's website at www.sec.gov and on TJHA's website at www.herzfeld.com/cuba, and may discuss these or other factors that affect the Fund. The information contained on TJHA's website is not a part of this press release.
本新聞稿以及TJHA或基金可能作出的其他聲明，可能包含符合“私人證券訴訟改革法案”的前瞻性陳述，涉及基金或TJHA未來的財務或業務表現、戰略或預期。前瞻性陳述通常由諸如“趨勢”、“潛力”、“機會”、“流水線”、“相信”、“舒適”、“預期”、“預期”、“當前”、“意圖”、“估計”、“立場”、“假設”、“展望”、“繼續”、“繼續”、“維持”、“維持”、“尋求”、“實現”和類似的表達，或將來或條件動詞，如“將”、“將”、“應該”、“可能”、“可能”或類似的表達。TJHA和基金提醒説，前瞻性陳述會受到許多假設、風險和不確定性的影響，這些假設、風險和不確定性會隨着時間的推移而變化。前瞻性陳述僅在前瞻性陳述發表之日發表，TJHA和基金對前瞻性陳述不承擔任何責任，也不承諾更新前瞻性陳述。實際結果可能與前瞻性陳述中預期的大不相同，未來的結果可能與歷史表現大不相同。關於基金組織，除其他外，以下因素可能導致實際事件與前瞻性陳述或歷史表現大不相同：(1)政治、經濟或行業條件的變化和波動，特別是古巴和其他加勒比盆地國家、利率環境、匯率或金融和資本市場的變化和波動。, (2)基金及其投資的相對和絕對投資表現；(3)競爭加劇的影響；(4)任何法律訴訟的不利解決方案；(5)任何分派或股份回購的範圍和時間；(6)技術變化的影響、程度和時間；(6)技術變化的影響、程度和時間；(3)競爭加劇的影響；(4)任何法律訴訟的不利解決方案；(5)任何分派或股份回購的範圍和時間；(6)技術變化的影響、程度和時間；(7)立法和監管行動和改革的影響，包括“多德-弗蘭克華爾街改革和消費者保護法”，以及政府機構對基金或TJHA(視情況而定)採取的監管、監督或執法行動的影響；。(8)可能對一般經濟、國內和本地金融和資本市場、特定行業或TJHA或基金產生不利影響的恐怖活動、國際敵對行動和自然災害；。(9)TJHA和基金吸引和留住優秀專業人員的能力；。(10)TJHA不時選擇為其產品提供支持的影響；及(11)其他金融機構出現問題或其他金融機構產品出現故障或負面表現的影響。提交給證券交易委員會的基金年度和半年度報告以及其他監管文件可在證券交易委員會的網站www.sec.gov和TJHA的網站www.herzFeld.com/cube上查閲，並可以討論這些或其他影響基金的因素。TJHA網站上的信息不是本新聞稿的一部分。
Contact:
聯繫方式：
Tom Morgan
湯姆·摩根
Chief Compliance Officer
首席合規官
Thomas J. Herzfeld Advisors, Inc.
托馬斯·J·赫茲菲爾德顧問公司(Thomas J.Herzfeld Advisors，Inc.)
1-305-777-1660
1-305-777-1660
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August 08, 2019 17:00 ET (21:00 GMT)
2019年8月8日美國東部時間17：00(格林尼治標準時間21：00)
*DJ The Herzfeld Caribbean Basin Fund, Inc. Announces Revisions to Managed Distribution Plan
*DJ The Herzfeld加勒比海盆地基金公司宣佈修訂管理分銷計劃
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August 08, 2019 17:00 ET (21:00 GMT)
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