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Neuberger Berman Next Generation Connectivity Fund Announces Distribution

On November 29, 2024, the Neuberger Berman Next Generation Connectivity Fund Inc. (NYSE: NBXG) disclosed its monthly distribution declaration, setting the amount at $0.10 per share for its common stock. This declaration comes as the firm maintains its level distribution policy, which aims to provide investors with reliable monthly payouts, subject to the conditions of the financial market.

Key Details of the Distribution

The distribution announced is scheduled for payment on December 31, 2024, with a record date set for December 16, 2024. This means that shareholders who hold stock in the Fund before this date will be eligible to receive the distribution. It is important to note that the same date serves as the ex-date, which marks the end of the eligibility to receive this payment for new investors buying shares afterward.

Neuberger Berman follows a disciplined approach to manage distributions, which are based on several critical factors, including the stability and amount of income generated from its various investments, the availability of capital gains, and the associated fees and expenses incurred by the Fund. However, it is vital for investors to understand that there are no guarantees that the Fund can consistently maintain its current distribution rate or that such distributions will arise solely from net investment income.

Understanding the Composition of Distributions

In its effort to maintain a consistent distribution amount, Neuberger Berman indicates that future distributions, including the one announced, may incorporate not only net investment income but also net realized capital gains and a return of capital. Following the requirements of the Investment Company Act of 1940, any distribution not consisting exclusively of net investment income will be accompanied by a notice, which serves only for informational purposes—not for tax reporting. This notice will detail estimated components of the distribution, identifying portions attributable to net investment income, capital gains, and return of capital.

The specific determination regarding the source and tax implications of all distributions during 2024 will take place after the conclusion of the year, giving investors a clearer picture of their returns.

About Neuberger Berman

Founded in 1939, Neuberger Berman is a reputable investment manager that remains employee-owned and independent. With a workforce of over 2,800 personnel spanning across 26 countries, the firm is responsible for managing $509 billion worth of portfolios in equities, fixed income, private equity, real estate, and hedge funds for both institutional clients and individual investors.

Neuberger Berman's investment philosophy is grounded in active management, thorough fundamental research, and engaged ownership, positioning it as a leader in the investment community. Notably, it has been recognized for its commitment to Environmental, Social, and Governance (ESG) practices, earning a spot in the PRI's Leader's Group—a status granted to less than 1% of investment firms. Additionally, for the past decade, Pensions & Investments has consistently named Neuberger Berman among the top two Best Places to Work in Money Management for companies with over 1,000 employees.

For more information about Neuberger Berman and its investment strategies, interested parties are encouraged to visit www.nb.com. The data provided is as of September 30, 2024, and reflects the firm's ongoing commitment to transparency and investor education.

Conclusion

This announcement from Neuberger Berman highlights the firm's steadfast commitment to its investors through reliable monthly distributions. As it navigates market conditions and adheres to its investment principles, investors can look forward to the upcoming distribution while remaining informed of its potential components and sources.