Dividend Declaration Hyperion 2005 Investment Grade Opportunity Term Trust, Inc. April 7, 1995.NEW YORK--(BUSINESS WIRE)--April 7, 1995-- The Board of Directors of the Hyperion 2005 Investment Grade Opportunity Term Trust, Inc. (NYSE NYSE See: New York Stock Exchange :HTO HTO Tritiated Water HTO High Tibial Osteotomy HTO High Temperature Oxidation HTO Hostile Take Over HTO Happy to Oblige HTO Horizontal Take-Off HTO Hydrogen Tritium Oxygen HTO Hospital Transfer Order ) today declared a monthly dividend of $0.05833 per share. The dividend is payable on April 27, 1995, to shareholders of record on April 17, 1995. This dividend represents a monthly return of 7.00% (an annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. rate) on the Trust's initial offering price of $10.00 per share. The current yield on shares of the Trust based on the NYSE closing price of $7.125 on April 6, 1995 is 9.82%, which is 275 basis points greater than the current yield on the 10-Year Treasury Note. The net asset (NAV See navigation system and navigation bar. ) per share is currently $8.48. The Hyperion 2005 Investment Grade Opportunity Term Trust, Inc. is a diversified, closed-end management investment company. The Trust's investment objectives are to provide shareholders with a high level of current income consistent with investing in securities of the highest credit quality and to return at least $10.00 per share (the Trust's initial public offering price per share) to investors on or shortly before November 30, 2005. All securities in which the Trust invests will be either (i) at the time of investment, rated in one of the four highest rating categories of a nationally recognized rating agency (e.g., between AAA AAA: see American Automobile Association. (Triple A) A common single-cell battery used in a myriad of electronic devices of all variety. Like its double A (AA) cousin, it provides 1.5 volts of DC power. When used in series, the voltage is multiplied. and BBB BBB A medium grade assigned to a debt obligation by a rating agency to indicate an adequate ability to pay interest and repay principal. However, adverse developments are more likely to impair this ability than would be the case for bonds rated A and above. by Standard & Poor's Corporation or between Aaa and Baa by Moody's Investor Service, Inc. or between AAA and BBB by Fitch Investor's Service, Inc.) or (ii) issued or guaranteed by the U.S. Government or one of its agencies or instrumentalities. The Trust is actively managed to take advantage of relative value opportunities in various sectors of the mortgage market. The Trust is currently managed with an average duration of 5 to 6 years. Currently, the average life of the securities in the portfolio is approximately 10 years. Portfolio Breakdown as of April 6, 1995 As a percentage of investments Mortgage-Backed Securities Mortgage-backed securities (MSBs) Securities backed by a pool of mortgage loans. 15.05% Collateralized Mortgage Obligations (CMOs) 42.06 Multi-Family and Commercial Property CMOs 10.99 Subordinated CMOs 10.17 Municipal Securities 4.63 Asset-Backed Securities 6.29 Treasuries 10.81 The Trust's investment adviser is Hyperion Capital Management, Inc., a registered investment adviser based in New York with approximately $4 billion in assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. . Additional information on the Trust's assets and performance is available by calling Hyperion Fund Marketing at (800) HYPERION or by calling Prudential Mutual Fund Management, Inc. (212) 214-5572. CONTACT: Hyperion Fund Management, Inc. (800) HYPERION or Prudential Mutual Fund Management, Inc. 212/214-5572 |
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