Hyperion 1999 Term Trust Dividend Declaration.NEW YORK--(BUSINESS WIRE)--November 11, 1994--Hyperion 1999 Term Trust, Inc., November November: see month. 11, 1994 Dividend Declaration The Board of Directors of the Hyperion 1999 Term Trust, Inc. (NYSE NYSE See: New York Stock Exchange : HTT HTT Hyper-Threading Technology (Intel) HTT Human Touch Technology HTT Hypertext Template (Microsoft Windows file extension) HTT Holier Than Thou HTT Hyper Transport Technology HTT Human Terrain Team ) today declared a monthly dividend of $0.05 per share. The dividend is payable on November 30, 1994, to shareholders of record on November 21, 1994. This dividend represents a monthly return of 6.00% (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 shares of 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 $6.75 on November 10, 1994 was 8.89%, which is 119 basis points greater than the current yield on the 5-Year Treasury Note. The net asset value (NAV See navigation system and navigation bar. ) per share is currently $7.78. The Hyperion 1999 Term Trust, Inc. is a diversified diversified (di·verˑ·s 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, 1999. All securities in which the Trust invests will be either (i) issued or guaranteed by the U.S. Government or one of its agencies or instrumentalities or (ii) at the time of investment, rated in the highest rating category by a nationally recognized agency (e.g., 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. by Standard & Poor's Corporation or Aaa by Moody's Investors Service Moody's Investors Service A leading global credit rating, research and risk analysis firm. Moody's Investors Service A leading firm engaged in credit rating, risk analysis, and research of fixed-income securities and their issuers. , Inc.). The Trust is actively managed to take advantage of relative value opportunities in various sectors of the mortgage market. The Trust is currently managed within a duration range of between 0 and 1 year. Currently the average life of the securities in the portfolio is approximately 4 years. -0-
Portfolio Breakdown as of November 10, 1994:
As a percentage of investments
Treasuries 25.3%
Mortgage-Backed Securities 5.0%
Collateralized Mortgage Obligations (CMOs) 34.4%
Multi-Family CMOs 1.3%
Municipal Securities 12.5%
Asset-Backed Securities 6.6%
Interest-Only Securities (IOs) 10.1%
PAC (IOs) 2.4%
PAC Principal-Only Securities 2.4%
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. 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: Prudential Prudential is the name of two different companies and buildings named after them: Companies:
212/214-5572
or
Hyperion Fund Marketing
800/HYPERION
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