CHARLOTTE, N.C., April 26,
2024 /PRNewswire/ -- The Allspring Income
Opportunities Fund (NYSE American: EAD), the Allspring
Multi-Sector Income Fund (NYSE American: ERC), and the Allspring
Utilities and High Income Fund (NYSE American: ERH) have each
announced a distribution.
TICKER
|
FUND NAME
|
DISTRIBUTION PER
SHARE
|
FREQUENCY
|
CHANGE FROM PRIOR
DISTRIBUTION
|
EAD
|
Allspring Income
Opportunities Fund
|
$0.05192
|
Monthly
|
+$0.00018
|
ERC
|
Allspring Multi-Sector
Income Fund
|
$0.06566
|
Monthly
|
+$0.00024
|
ERH
|
Allspring Utilities and
High Income Fund
|
$0.06246
|
Monthly
|
-$0.00032
|
The following dates apply to today's distribution declaration
for each fund:
Declaration date
|
April 26,
2024
|
Ex-dividend
date
|
May 10, 2024
|
Record date
|
May 13, 2024
|
Payable date
|
June 3, 2024
|
These funds make distributions in accordance with a managed
distribution plan that provides for the declaration of monthly
distributions to common shareholders of the fund at an annual
minimum fixed rate of 7% for the Allspring Utilities and High
Income Fund, 8.75% for the Allspring Income Opportunities Fund, and
8% for the Allspring Multi-Sector Income Fund based on the fund's
average monthly net asset value (NAV) per share over the prior 12
months. Under the managed distribution plan, distributions are
sourced from income and also may be sourced from paid-in capital
and/or capital gains. The fund's distributions in any period may be
more or less than the net return earned by the fund on its
investments and therefore should not be used as a measure of
performance or confused with yield or income. Distributions in
excess of fund returns will cause the fund's NAV to decline.
Investors should not draw any conclusions about the fund's
investment performance from the amount of its distribution or from
the terms of its managed distribution plan.
The Allspring Income Opportunities Fund is a closed-end
high-yield bond fund. The fund's investment objective is to seek a
high level of current income. The fund may, as a secondary
objective, seek capital appreciation to the extent it is consistent
with its investment objective.
The Allspring Multi-Sector Income Fund is a closed-end income
fund. The fund's investment objective is to seek a high level of
current income consistent with limiting its overall exposure to
domestic interest rate risk.
The Allspring Utilities and High Income Fund is a closed-end
equity and high-yield bond fund. The fund's investment objective is
to seek a high level of current income and moderate capital growth
with an emphasis on providing tax-advantaged dividend income.
The final determination of the source of all dividend
distributions in the current year will be made after year-end. The
actual amounts and sources of the amounts for tax-reporting
purposes will depend upon a fund's investment experience during the
remainder of the fiscal year and may be subject to change based on
tax regulations. Each fund will send shareholders a Form 1099-DIV
for the calendar year that will tell shareholders how to report
these distributions for federal income tax purposes.
For more information on Allspring's closed-end funds, please
visit www.allspringglobal.com.
These closed-end funds are no longer available in public
offerings and are only offered through broker-dealers on the
secondary market. A closed-end fund is not required to buy its
shares back from investors upon request. Shares of a fund may trade
at either a premium or discount relative to the fund's net asset
value, and there can be no assurance that any discount will
decrease. The values of, and/or the income generated by, securities
held by a fund may decline due to general market conditions or
other factors, including those directly involving the issuers of
such securities.
Equity securities fluctuate in value in response to factors
specific to the issuer of the security. Debt securities are subject
to credit risk and interest rate risk, and high-yield securities
and unrated securities of similar credit quality have a much
greater risk of default and their values tend to be more volatile
than higher-rated securities with similar maturities. Foreign
investments may contain more risk due to the inherent risks
associated with changing political climates, foreign market
instability, and foreign currency fluctuations. Risks of
international investing are magnified in emerging or developing
markets. Funds that concentrate their investments in a single
industry or sector may face increased risk of price fluctuation
over more diversified funds due to adverse developments within that
industry or sector. Small- and mid-cap securities may be subject to
special risks associated with narrower product lines and limited
financial resources compared with their large-cap counterparts.
Each fund is leveraged through a revolving credit facility and also
may incur leverage by issuing preferred shares in the future.
The use of leverage results in certain risks, including, among
others, the likelihood of greater volatility of the net asset value
and the market price of common shares. Derivatives involve
additional risks, including interest rate risk, credit risk, the
risk of improper valuation, and the risk of noncorrelation to the
relevant instruments they are designed to hedge or closely track.
There are numerous risks associated with transactions in options on
securities.
Allspring Global Investmentsâ„¢ is the trade name for the asset
management firms of Allspring Global Investments Holdings, LLC, a
holding company indirectly owned by certain private funds of GTCR
LLC and Reverence Capital Partners, L.P. These firms include but
are not limited to Allspring Global Investments, LLC, and Allspring
Funds Management, LLC. Certain products managed by Allspring
entities are distributed by Allspring Funds Distributor, LLC (a
broker-dealer and Member FINRA/SIPC). Associated with Allspring is
Galliard Capital Management, LLC (an investment advisor that is not
part of the Allspring trade name/GIPS firm).
This material is for general informational and educational
purposes only and is NOT intended to provide investment advice or a
recommendation of any kind—including a recommendation for any
specific investment, strategy, or plan.
Some of the information contained herein may include
forward-looking statements about the expected investment activities
of the funds. These statements provide no assurance as to the
funds' actual investment activities or results. Readers must make
their own assessment of the information contained herein and
consider such other factors as they may deem relevant to their
individual circumstances.
ALL-04102024-clb4pny7
© 2024 Allspring Global Investments Holdings, LLC. All rights
reserved.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/allspring-closed-end-funds-declare-monthly-distributions-302128139.html
SOURCE Allspring Global Investments