NEW YORK--(BUSINESS WIRE)--On April 29, 2020, the Board of Directors of BNY Mellon Alcentra Global Credit Income 2024 Target Term Fund, Inc. (NYSE: DCF) declared a distribution of $0.050 per share of common stock, payable on May 28, 2020 to shareholders of record at the close of business on May 13, 2020. The ex-dividend date is May 12, 2020. The $0.050 per share investment income dividend represents a decrease of $0.004 from the previously declared monthly net investment income dividend of $0.054 per share.
The decision to reduce the Fund’s dividend comes in light of the prevailing market conditions, overall performance of the credit instruments held by the Fund, and the Fund’s desire to retain a portion of its net investment income in an effort to both increase income being earned by the Fund and generate growth to the Fund’s net asset value.
The Fund intends to pay most, but likely not all, of its net income to common shareholders in monthly income dividends. As portfolio and market conditions may change, the distribution rate, the composition of the distribution and the Fund's policy to declare distributions monthly may be subject to change, including by the Board of Directors.
Certain information pertaining to the Fund, including portfolio manager commentary and Fund statistics, may be posted to www.bnymellonim.com/us and can be accessed at: https://im.bnymellon.com/us/en/individual/products/closed-end-funds.jsp. The information on the website is subject to change without notice and the Fund reserves the right to alter the timing of, or discontinue, the posting of such information at any time.