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DALLAS - Highland Opportunities and Income Fund (NYSE:HFRO), currently offering an attractive 8.88% dividend yield, announced on Tuesday a regular monthly distribution of $0.0385 per share on its common stock. The dividend will be payable on July 31 to shareholders of record as of July 24. The fund has maintained consistent dividend payments for nine consecutive years, according to InvestingPro data.
The closed-end fund, with a market capitalization of $291 million and a year-to-date return of 4.68%, is managed by NexPoint Asset Management. It seeks to provide capital growth along with income by investing in various securities and instruments. These include investments secured by real estate, REITs, preferred equity, convertible securities, and mezzanine debt.
HFRO also invests in other instruments such as secured and unsecured fixed-rate loans, corporate bonds, distressed securities, structured products, equities, futures, options, and floating rate loans.
The fund changed its name to Highland Opportunities and Income Fund from its previous designation on June 15, 2023, reflecting a modified investment objective that emphasizes both growth of capital and income generation.
The monthly distribution may include a return of capital, according to the company’s statement. The fund trades on the New York Stock Exchange under the ticker HFRO.
This information is based on a press release issued by the company.
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