Managed High Yield Plus Fund Inc. (the "Fund") (NYSE: HYF), a closed-end management investment company, today announced that the Fund’s Board of Directors has declared a dividend from net investment income of $0.0150 per share. The dividend is payable on July 31, 2013 to shareholders of record as of July 25, 2013. The ex-dividend date is July 23, 2013.
Managed High Yield Plus Fund Inc. seeks high income and, secondarily, capital appreciation, primarily through investments in lower-rated, income producing debt and related equity securities.
|Portfolio statistics as of June 30, 2013 1|
| Top ten corporate bonds,
including coupon and maturity
|Percentage of total portfolio assets|
|SquareTwo Financial Corp., 11.625%, 04/01/2017||1.4%|
|Ally Financial, Inc. 8.000%, 03/15/2020||1.2%|
|NRG Energy, Inc. 8.500%, 06/15/2019||1.1%|
|International Lease Finance Corp., 7.125%, 09/01/2018||1.1%|
|DISH DBS Corp., 7.875%, 09/01/2019||1.0%|
|Sabine Pass Liquefaction LLC, 5.625%, 02/01/2021||1.0%|
|MGM Resorts International, 10.000%, 11/01/2016||0.9%|
|CIT Group INC. 5.500%, 02/15/2019||0.9%|
|Intelsat Jackson Holding SA, 7.250%, 10/15/2020||0.8%|
|Nova Chemicals Corp., 8.625%, 11/01/2019||0.8%|
|Top five industries||
Percentage of total portfolio assets
|Energy - exploration & production||8.3%|
|Telecom - integrated/services||5.3%|
|Media – cable||5.1%|
|Credit quality 2||Percentage of total portfolio assets|
|Ba/BB and higher||36.2%|
|Caa/CCC and lower||14.7%|
|Net asset value per share 3||$2.17|
|Market price per share 3||$2.00|
|Weighted average life||
|Weighted average modified duration 4||
|Weighted average coupon 5||7.15%|
1 The Fund is actively managed, and its portfolio composition will vary over time.
2 Credit quality ratings are from Moody’s, unless that rating is unavailable. If so, the default credit quality rating will be from Standard & Poor's; if that is unavailable, an internal rating from UBS Global AM will be used if assigned. Standard & Poor's ("S&P") is a division of The McGraw-Hill Companies, Inc.3 Net asset value (NAV), market price and yields will fluctuate. NAV yield is calculated by multiplying the current month’s dividend by 12 and dividing by the month-end net asset value. Market yield is calculated by multiplying the current month’s dividend by 12 and dividing by the month-end market price. 4 Modified duration is the change in the price of a security, expressed in years, expected in response to each 1% change in the yield to maturity of the portfolio's holdings. 5 Weighted by par. 6 As a percentage of adjusted net assets. Adjusted net assets equals total assets minus total liabilities, excluding liabilities for borrowed money.