NEWARK, N.J.--(BUSINESS WIRE)--Prudential Short Duration High Yield Fund, Inc. (NYSE:ISD) and Prudential Global Short Duration High Yield Fund, Inc. (NYSE:GHY) declared today monthly distributions for December 2017 and January and February 2018. The distribution amounts and schedule for each fund appears below:
|Change From Prior Distribution|
|Prudential Short Duration High Yield Fund, Inc.||ISD||$0.0925||---|
|Prudential Global Short Duration High Yield Fund, Inc.||GHY||$0.0900||---|
This press release is not for tax reporting purposes but is being provided to announce the amount of each Fund’s distributions that have been declared by the applicable Board of Directors. In early 2018, after definitive information is available, each Fund will send shareholders a Form 1099-DIV, if applicable, specifying how the distributions paid by each Fund during the prior calendar year should be characterized for purposes of reporting the distributions on a shareholder’s tax return (e.g., ordinary income, long-term capital gain or return of capital). If applicable, a current estimate of the distribution's composition can be found in the Section 19 notice section of the website. Please consult your tax advisor for further information.
About PGIM and Prudential Financial, Inc.
With 14 consecutive years of positive third-party institutional net flows, PGIM, the global asset management businesses of Prudential Financial, Inc. (NYSE:PRU), ranks among the top 10 largest asset managers in the world with more than $1 trillion in assets under management as of September 30, 2017. PGIM’s businesses offer a range of investment solutions for retail and institutional investors around the world across a broad range of asset classes, including fundamental equity, quantitative equity, public fixed income, private fixed income, real estate and commercial mortgages. Its businesses have offices in 16 countries across five continents. For more information, please visit pgim.com.
Prudential’s additional businesses offer a variety of products and services, including life insurance, annuities and retirement-related services. For more information about Prudential, please visit news.prudential.com.
Each Fund is a diversified, closed-end management investment company managed by PGIM Investments LLC and sub-advised by PGIM Fixed Income, a business unit of PGIM, Inc., and an affiliate of the investment manager.
These Funds invest in high yield (“junk”) bonds, which are subject to greater credit and market risks; derivative securities, which may carry market, credit, and liquidity risks; foreign securities, which are subject to currency fluctuation and political uncertainty; and emerging markets securities, which are subject to greater volatility and price declines. Fixed income investments are subject to interest rate risk, where their value will decline as interest rates rise. There are fees and expenses involved with investing in these Funds. Diversification does not assure a profit or protect against a loss in declining markets. There is no guarantee that dividends or distributions will be paid.
An investment in closed-end fund’s common stock may be speculative in that it involves a high degree of risk, should not constitute a complete investment program, and may result in loss of principal. Each closed-end fund will have its own unique investment strategy, risks, charges and expenses that need to be considered before investing.
This material is being provided for informational or educational purposes only and does not take into account the investment objectives or financial situation of any client or prospective clients. The information is not intended as investment advice and is not a recommendation about managing or investing your retirement savings. Clients seeking information regarding their particular investment needs should contact a financial professional.
PGIM Fixed Income is a unit of PGIM, which is a registered investment advisor and Prudential Financial company. © 2017 Prudential Financial, Inc. and its related entities. PGIM and the PGIM logo are service marks of Prudential Financial, Inc. and its related entities, registered in many jurisdictions worldwide.
Investment products are not insured by the FDIC or any federal government agency, may lose value, and are not a deposit of or guaranteed by any bank or any bank affiliate.