Printer Friendly

Global High Income Fund Inc. -- Distribution characteristics for January 2007.

NEW YORK -- Global High Income Fund Inc. (the "Fund") (NYSE: GHI), a non-diversified, closed-end management investment company seeking high current income and secondarily, capital appreciation through investments primarily in securities of emerging market debt issuers, today announced its distribution characteristics for the month of January 2007.

On January 10, 2007, the Fund's Board of Directors declared a regular monthly distribution of $0.1131 per share. This distribution is payable January 31, 2007 to shareholders of record as of January 22, 2007. The ex-dividend date was January 18, 2007.

The Fund adopted a managed distribution policy in December 1999, which was revised in May 2005. Pursuant to the policy as currently in effect, the Fund makes regular monthly distributions at an annualized rate equal to 9% of the Fund's net asset value, as determined as of the last day on which the New York Stock Exchange is open for trading during the first week of that month. The Fund's Board will reassess no less frequently than annually the annualized percentage of net assets at which the Fund's monthly distributions will be made. The Fund's Board may change or terminate the managed distribution policy at any time; any such change or termination may have an adverse effect on the market price for the Fund's shares.

To the extent that the Fund's taxable income in any fiscal year exceeds the aggregate amount distributed based on a fixed percentage of its net asset value, the Fund would make an additional distribution in the amount of that excess near the end of the fiscal year. To the extent that the aggregate amount distributed by the Fund based on a fixed percentage of its net asset value exceeds its current and accumulated earnings and profits, the amount of that excess would constitute a return of capital or net realized capital gains for tax purposes.

Based on information available at this time, the Fund estimates that net investment income is the source of approximately 56% of the January distribution of $0.1131 per share, 31% represents short-term capital gain distributions and 13% represents long-term capital gain distributions. Additionally, for the Fund's current fiscal period which began on November 1, 2006 through January 31, 2007, it is currently estimated that net investment income is the source of approximately 51% of your regular monthly aggregate distributions of $0.3370 per share and short-term capital gains are the source of approximately 49% of your regular monthly aggregate distributions. These are only estimates, however, and are subject to change.

The actual sources of the Fund's distributions may be net investment income, net realized capital gains, return of capital or a combination of the foregoing and may be subject to retroactive recharacterization at the end of the Fund's fiscal year based on tax regulations. The actual amounts attributable to each of these sources will be reported to shareholders in January 2008 on Form 1099-DIV.
COPYRIGHT 2007 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2007, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

 
Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Date:Jan 31, 2007
Words:482
Previous Article:Labor Ready Reports Fourth Quarter 2006 Results.
Next Article:Interpublic Schedules Fourth Quarter and Full Year 2006 Earnings Release.
Topics:


Related Articles
Global High Income Fund Inc. -- Distribution Characteristics for November 2006.
Strategic Global Income Fund, Inc. -- Distribution characteristics for December 2006.
Strategic Global Income Fund, Inc. -- Distribution characteristics for January 2007.
Strategic Global Income Fund, Inc. -- Distribution Declaration and Updated Price & Distribution Rate Information.
Strategic Global Income Fund, Inc. -- Distribution Characteristics for March 2007.
Global High Income Fund Inc. -- Distribution characteristics for March 2007.
Strategic Global Income Fund, Inc. -- Distribution Declaration and Updated Price & Distribution Rate Information.
Strategic Global Income Fund, Inc. -- Distribution Characteristics for April 2007.
Global High Income Fund Inc. -- Distribution Characteristics for April 2007.
Strategic Global Income Fund, Inc. -- Distribution Characteristics for May 2007.

Terms of use | Privacy policy | Copyright © 2018 Farlex, Inc. | Feedback | For webmasters