(Source: Business Wire)
Strategic Global Income Fund, Inc. (the "Fund") (NYSE: SGL), a non-diversified, closed-end management investment company seeking a high level of current income as a primary objective and capital appreciation as a secondary objective through investments in US and foreign debt securities, today announced that the Fund's Board of Directors declared a regular monthly distribution of $0.0636 per share. The distribution is payable on April 30, 2009 to shareholders of record as of April 23, 2009. The ex-dividend date is April 21, 2009.
The Fund adopted a managed distribution policy in May 1998, which was revised effective January 2000 and in May 2005. Pursuant to the policy as currently in effect, the Fund makes regular monthly distributions at an annualized rate equal to 8% of the Fund's net asset value, as determined as of the last day on which the New York Stock Exchange is open for trading during the first week of that month. Based on information available at this time, the Fund estimates that portions of the current regular monthly distribution may be comprised of net investment income and capital gain distributions. Further information regarding the estimated sources of the current regular monthly distribution will be provided around month-end; however, information provided will be an estimate and subject to change based on the Fund's investment experience during the remainder of its fiscal year.
To the extent that the Fund's taxable income in any fiscal year exceeds the aggregate amount distributed based on a fixed percentage of its net asset value, the Fund would make an additional distribution in the amount of that excess near the end of the fiscal year. To the extent that the aggregate amount distributed by the Fund based on a fixed percentage of its net asset value exceeds its current and accumulated earnings and profit, the amount of that excess would constitute a return of capital or net realized capital gains for tax purposes. From time to time, the Fund may project that a portion of a distribution may consist of a return of capital based on information available at that time. Such an estimate is subject to change based on the Fund's investment experience during the remainder of its fiscal year. The actual sources of the Fund's regular monthly distributions may be net investment income, net realized capital gains, return of capital or a combination of the foregoing and may be subject to retroactive recharacterization at the end of the Fund's fiscal year based on tax regulations. The actual amounts attributable to each of the sources will be reported to each shareholder next January on Form 1099-DIV.
Monthly distributions based on a fixed percentage of the Fund's net asset value may require the Fund to make multiple distributions of long-term capital gains during a single fiscal year. The Fund has received exemptive relief from the Securities and Exchange Commission that enables it to do so.
