The Plan has two distinct features:
Distribution Reinvestment. The Plan provides a convenient way to increase your holdings in the Fund by acquiring additional shares of the Fund’s common stock through the reinvestment of cash distributions.1 If you decide to participate in the Plan, American Stock Transfer and Trust Company LLC (the “Plan Agent”) will automatically invest your distributions (net of any applicable withholding tax) in shares of the Fund for your account. You can expect to receive a confirmation statement with respect to the distributions made under the Plan. If the Fund decides to declare a distribution in stock with an option to receive cash (at the election of the shareholder), and you elect to receive cash, your distribution will also be automatically invested in shares of the Fund under the Plan.
Stock Purchase Option. Even if you do not reinvest distributions under the Plan, you can still choose to purchase additional Fund shares at any time, by providing cash payments to the Plan Agent to effect purchases in the open market on your behalf. Cash payments made pursuant to this option will be invested in Fund shares on a monthly basis. Shareholders can also authorize the Plan Agent to make automatic monthly purchases of Fund shares. Shareholders that use this stock purchase option are not obligated to reinvest distributions received from the Fund shares purchased, but can choose to receive those distributions in cash.
Participation in the Plan is entirely voluntary and, subject to the terms of the Plan, you may join or withdraw at any time. If your shares are held in the name of any brokerage firm, bank or other nominee, you should contact your nominee to see if it will participate in the Plan on your behalf. If you wish to participate in the Plan, but your brokerage firm, bank, or other nominee is unable to accommodate you, you should request your nominee to reregister your shares in your own name to permit you to participate in the Plan.
Please click to view the Fund’s Distribution Reinvestment and Stock Purchase Plan(PDF format).
1 Cash distributions may be reinvested under the Plan regardless of the character of such distributions for accounting and tax reporting purposes (i.e., regardless of whether the distribution consists of net investment income, capital gains or a return of capital).