MONTCLAIR, N.J., Jan. 02, 2024 (GLOBE NEWSWIRE) 180 Degree Capital Corp. TURN ("180") noted that today is the beginning of the first measurement period of…
MONTCLAIR, N.J., Nov. 13, 2023 (GLOBE NEWSWIRE) 180 Degree Capital Corp. TURN ("180" and the "Company"), today announced a Discount Management Program (the…
May 28, 2021
This equates to an approximate 5.25% distribution rate based on the Fund’s closing market price on March 4, 2021. This revision enhances last week’s announcement for a total increase of 122% in the monthly distribution rate above the rate paid in February 2021. The newly approved distribution rate aligns with the monthly distribution strategy implemented this year. One of the goals of that strategy is to deliver more earnings, more quickly, to shareholders through a higher, regular monthly distribution rate.
The Board also approved a Discount Management Program (the “Program”). Under the terms of the Program, the Fund’s Board of Directors approved annual tender offers for calendar years 2021 and 2022 for 10% of the Fund’s outstanding shares of common stock at a price equal to 98% of net asset value (NAV) per share. The Fund would conduct a tender offer if its shares trade at an average discount to NAV of more than 10% during the measurement periods from Apr