NEW YORK, June 17, 2021 /PRNewswire/ -- Neuberger Berman
Next Generation Connectivity Fund Inc. (NYSE: NBXG) (the
"Fund"), a newly organized closed-end fund, announced today the
declaration of its initial monthly distribution of $0.10 per share of common stock. The monthly
distribution amount represents a 6.0% distribution rate relative to
the Fund's initial public offering price of $20.00 per share. The distribution announced
today is payable on July 30, 2021, has a record date of
July 15, 2021 and has an ex-date of
July 14, 2021.
Under its level distribution policy, the Fund anticipates that
it will make regular monthly distributions, subject to market
conditions, of $0.10 per share of
common stock, unless further action is taken to determine another
amount. The Fund's ability to maintain its current distribution
rate will depend on a number of factors, including the amount and
stability of income received from its investments, availability of
capital gains, and the level of other Fund fees and expenses. There
is no assurance that the Fund will always be able to pay a
distribution of any particular amount or that a distribution will
consist of only net investment income.
Due to an effort to maintain a stable distribution amount, the
distribution announced today, as well as future distributions, may
consist of net investment income, realized capital gains and return
of capital. In compliance with Section 19 of the Investment Company
Act of 1940, as amended, a notice would be provided for any
distribution that does not consist solely of net investment income.
The notice would be for informational purposes and not for tax
reporting purposes, and would disclose, among other things,
estimated portions of the distribution, if any, consisting of net
investment income, capital gains and return of capital. The final
determination of the source and tax characteristics of all
distributions paid in 2021 will be made after the end of the
year.
About Neuberger Berman
Neuberger Berman, founded in 1939, is a private, independent,
employee-owned investment manager. The firm manages a range of
strategies—including equity, fixed income, quantitative and
multi-asset class, private equity, real estate and hedge funds—on
behalf of institutions, advisors and individual investors globally.
With offices in 25 countries, Neuberger Berman's diverse team has
over 2,300 professionals. For seven consecutive years, the company
has been named first or second in Pensions & Investments Best
Places to Work in Money Management survey (among those with 1,000
employees or more). In 2020, the PRI named Neuberger Berman a
Leader, a designation awarded to fewer than 1% of investment firms
for excellence in Environmental, Social and Governance (ESG)
practices. The PRI also awarded Neuberger Berman an A+ in every
eligible category for our approach to ESG integration across asset
classes. The firm manages $402
billion in client assets as of March
31, 2021. For more information, please visit our website at
www.nb.com.
A registration statement relating to these securities has
been filed with and declared effective by the Securities and
Exchange Commission. This press release shall not constitute an
offer to sell or a solicitation of an offer to buy any security.
The Fund has completed its initial public offering. An investor
should carefully read the Fund's prospectus, which includes a
discussion of investment objectives, risk factors, fees and
expenses, before investing. A copy of the final prospectus relating
to the offering may be obtained from the Fund at 877.628.2583, or
contact your financial advisor.
Statements made in this release that look forward in time
involve risks and uncertainties. Such risks and uncertainties
include, without limitation, the adverse effect from a decline in
the securities markets or a decline in the Fund's performance, a
general downturn in the economy, competition from other closed end
investment companies, changes in government policy or regulation,
inability of the Fund's investment adviser to attract or retain key
employees, inability of the Fund to implement its investment
strategy, inability of the Fund to manage rapid expansion and
unforeseen costs and other effects related to legal proceedings or
investigations of governmental and self-regulatory
organizations.
Contact:
Neuberger Berman Investment Advisers LLC
Investor Information
(877) 461-1899
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