MILLER/HOWARD HIGH INCOME EQUITY FUND DECLARES MONTHLY DISTRIBUTIONS
The Fund intends to pay monthly distributions to its shareholders.
Woodstock, NY, April 01, 2020 (GLOBE NEWSWIRE) -- The Board of Trustees of the Miller/Howard High Income Equity Fund (NYSE: HIE) (the “Fund”) declares cash distributions of $0.040 per share for each of April, May, and June 2020. This is a decrease from the previous monthly distribution of $0.116 per share.
The change in distribution takes into account the current market environment, Miller/Howard’s outlook regarding the dividends and distributions of the companies in the Fund’s universe, and the projected proceeds from other investment activities.
The impact of the COVID-19 pandemic has resulted in companies in the Fund’s investment universe temporarily suspending or reducing their dividends or distributions. Miller/Howard believes that this reduction in the monthly distribution provides the best opportunity to continue to deliver a high level of current income to our investors over the long term.
HIE: CUSIP–600379 101
| Declaration | Ex-Date | Record | Payable |
| April 1, 2020 | April 22, 2020 | April 23, 2020 | April 30, 2020 |
| April 1, 2020 | May 21, 2020 | May 22, 2020 | May 29, 2020 |
| April 1, 2020 | June 22, 2020 | June 23, 2020 | June 30, 2020 |
The Fund’s current indicated yield based on its closing price on the New York Stock Exchange on March 31, 2020 ($5.63) is 8.53%. The current indicated yield based on the Fund’s net asset value per share ($5.94) is 8.08%. The Fund intends to pay monthly distributions to its shareholders.
Each quarter, the Board of Trustees reviews the advisor’s recommended amount of any potential distribution to shareholders. The Board of Trustees will monitor the Fund’s distribution level. The Fund’s distribution rate may be affected by numerous factors, including changes in realized and projected market returns, Fund performance and other factors. There can be no assurance that an unanticipated change in market conditions or other unforeseen factors will not result in a change in the Fund’s distribution rate at a future time. The distribution rate should not be considered the dividend yield or total return on an investment in the Fund.
About the Fund
The Fund is managed by Miller/Howard Investments Inc., based in Woodstock, New York. Miller/Howard Investments’ total firm assets as of December 31, 2019 were approximately $4.2 billion, including $0.4 billion in assets under advisement. Miller/Howard Investments focuses on income-producing equities. The emphasis is on high-quality stocks with high yield and strong dividend growth offering investors the opportunity for capital appreciation, current income, and growth of income. The firm has managed portfolios for major institutions and individuals for over two decades.
For information, call shareholder servicing:
American Stock Transfer
1-800-937-5449
Catherine Johnston, CFA Miller/Howard Investments Inc. 845-679-9166 [email protected]