Voya Prime Rate Trust Saba Capital Income and Opportunities Fund: Saba Capital Income & Opportunities Fund Dividend Release

0

405 Lexington Avenue, 58e Ground

August 2, 2021

New York, New York 10174

Contact: Léa Jordan

212-542-4614

BRW – July dividend of $ 0.033

New York, New York – Saba Capital Income & Opportunities Fund (NYSE: BRW) (the “Fund”), a closed-end investment company listed on the New York Stock Exchange, declared a monthly dividend of $ 0.033 per share July 30, 2021, payable August 23, 2021 to shareholders of record on August 10, 2021.

Managed distribution plan. The above distribution has been declared in accordance with the Fund’s managed distribution plan, whereby the Fund will pay monthly distributions to shareholders at an initial minimum annual fixed rate of 8.00%, based on the average monthly net asset value of the shares. ordinary funds. The Fund will calculate the average net asset value for the previous month on the basis of the number of business days in that month on which the net asset value is calculated. The distribution will be calculated at 8.00% of the average net asset value of the previous month, divided by twelve. The Fund will generally distribute the amounts necessary to satisfy the Fund plan and the requirements prescribed by the excise tax rules and subchapter M of the Internal Revenue Code. The plan aims to provide shareholders with a fixed, constant but not guaranteed minimum distribution rate each month and aims to reduce the discount between the market price and the net asset value of the common shares of the Fund, but there is no guarantee that the plan will succeed.

As part of the managed distribution plan, to the extent that sufficient investment 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 rate. distribution managed. No conclusions should be drawn about the performance of the Fund’s investments from the amount of the Fund’s distributions or the terms of the Fund’s managed distribution plan. The board can change or terminate the terms of the plan at any time. The modification or termination of the plan could have an adverse effect on the price of the common shares of the Fund. The Plan will be subject to a periodic review by the Board, including an annual review of the minimum annual fixed rate to determine whether an adjustment should be made.

In accordance with rule 19a-1 of the Investment Company Act of 1940, shareholders will receive a notice detailing the source of income for the above dividend, such as net investment income, gain from the sale of securities and repayment of capital. However, the determination of the actual source of the aforementioned dividend can only be made at the end of the year. The actual source amounts of all dividends from the Fund will be included in the Fund’s annual or semi-annual reports.

Past performance is no guarantee of future results. The return on investments and the principal value of an investment in the Fund will fluctuate. Stocks, when sold, may be worth more or less than their original cost.

Main risk factor (s): The Fund invests in high yield credit on an undiversified basis and also opportunistically targets other investments, such as registered closed-end funds and special purpose acquisition companies. The Fund will use derivatives when it believes it can generate attractive risk-adjusted returns. High yield investments carry a higher than normal risk that borrowers will not be able to repay the principal and interest on their bonds or loans on time, which would likely cause the value of the common shares of the Fund to decline. Changes in short-term market interest rates will directly affect the return on the common shares of the Fund. If these rates fall, the Fund’s return will also decline. If interest rate spreads on Fund loans generally decrease, the yield on Fund loans will decline and the value of Fund loans may decline. When short-term market interest rates rise, due to the lag between changes in these short-term rates and the resetting of variable rates on loans in the Fund’s portfolio, the impact of the rate hike will be delayed. to the extent of this shift. Due to the limited secondary market for senior variable rate bank loans, the Fund’s ability to sell its loans at a

DOC ID – 36645095.3


Source link

Share.

Comments are closed.