High Yield Plus Fund's board of directors makes announcement.NEW YORK--(BUSINESS WIRE)--Nov. 9, 1995--The board of directors of the High Yield Plus Fund Inc. (NYSE NYSE See: New York Stock Exchange : HYP Hyp hydroxyproline. ), at a regularly scheduled meeting today, declared the fund's monthly dividend of $0.07 per share and a special dividend in the amount of $0.01 per share. The dividends are payable on Dec. 15 to shareholders of record on Nov. 30. The special dividend is being made in order for the fund to avoid any excise A tax imposed on the performance of an act, the engaging in an occupation, or the enjoyment of a privilege. A tax on the manufacture, sale, or use of goods or on the carrying on of an occupation or activity, or a tax on the transfer of property. and income tax liability and to satisfy the Internal Revenue Code The Internal Revenue Code is the body of law that codifies all federal tax laws, including income, estate, gift, excise, alcohol, tobacco, and employment taxes. These laws constitute title 26 of the U.S. Code (26 U.S.C.A. § 1 et seq. distribution requirements. The High Yield Plus Fund Inc. is a closed-end management investment company whose primary objective is to provide a high level of current income. Capital appreciation is a secondary objective. The fund will normally invest at least 65 percent of its assets in high yield debt securities in the medium to lower categories by recognized rating services, or in non-rated securities deemed by the fund's investment adviser to be of comparable quality. 0he fund's investment adviser is Wellington Management Co., an independent investment management firm. Additional information on the fund is contained in the annual report to shareholders for the year ended March 31, 1995. CONTACT: Prudential Mutual Funds, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of 212/214-1665 |
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