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The Swiss Helvetia Fund, Inc. (NYSE:SWZ), a closed-end investment company, has announced its latest quarterly distribution under its managed distribution plan (the "Plan"). The distribution will be $0.129 per share of the Fund's common stock. Key dates for this distribution are as follows:
- Record Date: September 19, 2024
- Ex-Dividend Date: September 19, 2024
- Payment Date: September 30, 2024
The Plan, which has been approved by the Fund’s Board of Directors, is designed to provide shareholders with a stable, although not guaranteed, minimum distribution on a quarterly basis. This approach aims to offer a more predictable income stream to investors while potentially narrowing the discount at which the Fund's shares trade relative to their net asset value (NAV).
Distributions under the Plan can include a mix of net investment income, net realized short-term and long-term capital gains, and if necessary, return of capital or other capital sources. For each distribution, the Fund will provide a detailed notice and press release outlining the amount and composition of the distribution, which will be issued around the payment date.
It is important to note that the amounts and sources reported in these notices are estimates and can change based on the Fund’s investment performance throughout the fiscal year. The final amounts and sources used for accounting and tax reporting will be determined by the Fund’s actual investment results and relevant tax regulations. Stockholders will receive a Form 1099-DIV at the end of the year, detailing how to report these distributions for federal income tax purposes.
The current distribution of $0.129 per share translates to an annualized distribution rate of 6.00%, based on the Fund’s NAV as of October 31, 2023. This annualized rate is subject to change as the NAV fluctuates. The Board of Directors reviews the terms of the Plan at least annually and may adjust the distribution amount or rate based on various factors, including market returns and Fund performance. The Plan can also be amended or terminated at the Board's discretion, potentially impacting the market price of the Fund’s common stock.
For those who have not opted out, distributions will be automatically reinvested in additional shares of the Fund’s common stock through the Fund's automatic dividend reinvestment plan.
