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July 30, 2013 /PRNewswire/ -- Invesco announced today that Invesco Advantage Municipal Income Trust II (VKI), Invesco Bond Fund (VBF), Invesco California Value Municipal Income Trust (VCV), Invesco Dynamic Credit Opportunities Fund (VTA), Invesco High Income Trust II (VLT), Invesco Municipal Trust (VKQ), Invesco Municipal Income Opportunities Trust (OIA), Invesco Municipal Opportunity Trust (VMO), Invesco Pennsylvania Value Municipal Income Trust (VPV), Invesco Quality Municipal Income Trust (IQI), Invesco Senior Income Trust (VVR), Invesco Trust for Investment Grade Municipals (VGM), Invesco Trust for Investment Grade New York Municipals (VTN) and Invesco Value Municipal Income Trust (IIM) (the "Funds") are amending certain terms of their Dividend Reinvestment Plans. The amendments to the Dividend Reinvestment Plans will become effective
September 3, 2013. Upon effectiveness of these amendments, the Funds will utilize a uniform Dividend Reinvestment Plan (the "Plan").
Certain Plan changes are summarized below.
OIA, IIM, IQI, VKI, VBF, VCV, VMO, VKQ, VPV, VGM, VTN and VVR are amending their Plans to adopt "Opt-Out" plans. VTA and VLT already have "Opt-Out" plans. Under an "Opt-Out" plan, new shareholders in a Fund will be automatically enrolled in the Plan unless otherwise designated by the shareholder when the shares are purchased. If at any time a shareholder does not want to participate in the Plan and would like to receive dividends and capital gains distributions ("Distributions") in cash, such shareholder may contact Invesco to withdraw from the Plan. Shareholders of all Funds that are not currently enrolled in the Plan will continue to receive cash Distributions.
Share Purchase Price for Participants
OIA, IIM, IQI, VLT and VVR are amending their Plans to provide for the purchase of shares at a reduced price when the Fund's common shares are trading at a premium. Distributions will be promptly reinvested for Plan participants. If a Fund's common shares are trading at a share price that is equal to its net asset value ("NAV"), participants will pay that amount for their reinvested shares. If a Fund's common shares are trading at a premium (a market price that is higher than its NAV), participants will pay either the NAV or 95 percent of the market price, whichever is greater. If a Fund's common shares are trading at a discount (a market price that is lower than its NAV), participants will pay the market price for their reinvested shares. VKI, VBF, VCV, VTA, VKQ, VMO, VPV, VGM and VTN already offer this feature.