Hyperion 1999 Term Trust declares dividend.NEW YORK--(BUSINESS WIRE)--Oct. 13, 1995--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 $0.03958 per share. The dividend is payable on Oct. 30, 1995, to shareholders of record on Oct. 23, 1995. The dividend represents a monthly return of 4.75% (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 $6.875 on Oct. 12, 1995 was 6.91%, which is 105 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 $7.70. The Hyperion 1999 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 Nov. 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 Corp. 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.). No assurance can be given that the Trust's investment objectives will be achieved. 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 a duration of negative 2 years to positive 2 years. Currently, the average life of the securities in the portfolio is approximately 5 years. -0-
Portfolio Breakdown as of Oct. 12, 1995:
As a percentage of investments
Treasuries 3.0% Mortgage-backed securities 46.0% Collateralized mortgage obligations (CMOs) 14.0% Multi-family CMOs 3.0% Municipal securities 13.0% Asset-backed securities 4.0% Interest-only securities (IOs) 4.0% PAC IOs 2.0% Principal-only securities 11.0% The Trust's investment adviser is Hyperion Capital Management Inc., a registered investment adviser based in 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 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. CONTACT: Hyperion Fund Marketing (800) HYPERION |
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