Saba Capital Income & Opportunities Fund II (NYSE: SABA), a registered closed-end management investment company traded on the New York Stock Exchange, has announced a monthly dividend of $0.029 per share on February 29, 2024. This dividend will be payable on March 28, 2024, to shareholders of record as of March 11, 2024.
The declared distribution aligns with the Fund’s existing managed distribution plan (the “Plan”), which mandates monthly distributions to shareholders at a fixed rate of $0.029 per share. The Plan aims to provide shareholders with a consistent, though not guaranteed, minimum distribution each month and endeavors to narrow the gap between the market price and the net asset value of the Fund’s common shares. However, the effectiveness of the Plan in achieving this goal is not assured.
In situations where sufficient investment income is unavailable, the Fund may utilize long-term capital gains and/or return of capital to maintain its managed distribution rate. Consequently, long-term capital gains and/or return of capital could represent a significant portion of any distribution. Shareholders should not draw conclusions about the Fund’s investment performance solely from the distribution amount or the terms of the Plan. The Board of Trustees reserves the right to amend or terminate the Plan at its discretion without prior notice to shareholders.
The Proposed Transaction, including the discharge and/or novation of FGIC policies, is contingent upon review and approval by the New York State Department of Financial Services, the reopening of FGIC’s rehabilitation proceeding, and final approval by the Supreme Court of the State of New York. Shareholders will receive a detailed notice regarding the income source of the dividend in compliance with Rule 19a-1 of the Investment Company Act of 1940.
Investors are reminded that past performance does not guarantee future results, and the value of an investment in the Fund may fluctuate over time. Shareholders should carefully consider the investment objective, risks, and expenses associated with the Fund before investing. Detailed reports and filings can be accessed on the Fund’s website or through the Securities and Exchange Commission’s online database. Additionally, shareholders are encouraged to consult with a tax advisor regarding the tax treatment of Fund distributions, as individual tax situations may vary. For a comprehensive discussion of risk factors affecting the Fund, investors should review the Fund’s filings with the Securities and Exchange Commission and related materials available on the Fund’s website.
