New Distribution Announcement for the Fund
The New America High Income Fund, Inc. (the “Fund”) has recently made a significant announcement regarding its operations. Investors can expect a distribution of $0.04 per share on its common stock, which will be paid to shareholders on January 31, 2025. This payment will be made to those who are listed as common shareholders by the close of business on January 17, 2025. It's essential for investors to mark this date as the ex-dividend date will also fall on January 17.
Upcoming Reorganization and Its Implications
In addition to the distribution, the Fund is undergoing an important reorganization. This transformation will see the Fund merge into the T. Rowe Price High Yield Fund, which is part of a larger series under T. Rowe Price High Yield Fund, Inc. The anticipated effective date for this reorganization is pegged for the end of the trading day on February 21, 2025, depending on the fulfillment of the standard closing conditions. After the reorganization is complete, existing shareholders will receive Investor Class shares of the T. Rowe Price Fund, marking a new chapter for those invested in the Fund.
Trouble-Free Transition for Shareholders
To ensure a smooth transition, it is important for shareholders to note that all shares of the Fund will stop trading on the New York Stock Exchange after the market closes on February 11, 2025. This move is a crucial step in the reorganization process and shareholders should be prepared for this timeline.
Insight into the Fund and Its Management
The New America High Income Fund, Inc. operates as a diversified, closed-end management investment company that utilizes a leveraged capital structure to maximize returns for shareholders. This company has a solid backing from T. Rowe Price Associates, Inc. (“T. Rowe Price”), which has an established history of providing investment advisory services since 1937. As of the end of September 2024, T. Rowe Price managed assets totaling approximately $1.6 trillion, including a substantial $20 billion allocated to high yield investments. This extensive experience positions the Fund favorably in the investment landscape.
Contact Information for Inquiries
For any further details or inquiries, investors can reach out to:
Ellen E. Terry, President
Telephone: 617-263-6400
Website: www.newamerica-hyb.com
Frequently Asked Questions
What is the amount of the distribution announced?
The Fund has announced a distribution of $0.04 per share to its common shareholders.
When will the distribution be paid?
The distribution will be paid on January 31, 2025, to shareholders who are on the record as of January 17, 2025.
What will happen to shares after February 11, 2025?
All shares of the Fund will cease trading after the close of the market on February 11, 2025, as part of its reorganization.
What is the reorganization involving the Fund?
The New America High Income Fund will merge into the T. Rowe Price High Yield Fund, and shareholders will receive Investor Class shares after the merger.
Who manages the New America High Income Fund?
The Fund is managed by T. Rowe Price Associates, Inc., which has a long-standing reputation in the investment management industry.
