NexPoint Credit Strategies Fund (the “Trust”) (NYSE: NHF) today
announced the record and payment date of the dividend announced on
February 25, 2013. The Board of Trustees (the “Board”) has declared a regular
distribution on its common stock, for March 2013, of $0.042
per share, payable on the last business day of the month to holders of
record at the close of business March 21, 2013.
As of February 28, 2013, the Trust had estimated undistributed net
investment income of approximately $4.0 million (unaudited). The
following are annualized historical distribution rate calculations based
on the total declared distribution for the month, the Trust’s net asset
value (“NAV”) at month-end and the Trust’s month-end closing price
(“Market Price”).
|
Month-End Distribution Rates
|
|
|
|
|
|
Annualized
|
|
Payment Date
|
|
|
Amount
|
|
|
NAV
|
|
|
Market
Price
|
|
|
|
Ordinary
|
|
|
ST Cap Gain
|
|
|
LT Cap Gain
|
|
|
Total
|
|
|
|
|
|
February 28, 2013
|
|
|
$
|
0.0350
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
0.0350
|
|
|
5.26
|
%
|
|
|
5.75
|
%
|
|
January 31, 2013
|
|
|
$
|
0.0350
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
0.0350
|
|
|
5.45
|
%
|
|
|
5.97
|
%
|
|
December 31, 2012
|
|
|
$
|
0.0350
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
0.0350
|
|
|
5.65
|
%
|
|
|
6.33
|
%
|
|
November 30, 2012
|
|
|
$
|
0.0350
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
0.0350
|
|
|
5.76
|
%
|
|
|
6.57
|
%
|
|
October 31, 2012
|
|
|
$
|
0.0350
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
0.0350
|
|
|
5.72
|
%
|
|
|
6.33
|
%
|
|
September 30, 2012
|
|
|
$
|
0.0350
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
0.0350
|
|
|
5.69
|
%
|
|
|
6.08
|
%
|
|
August 31, 2012
|
|
|
$
|
0.0350
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
0.0350
|
|
|
5.84
|
%
|
|
|
6.28
|
%
|
|
July 31, 2012
|
|
|
$
|
0.0350
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
0.0350
|
|
|
6.03
|
%
|
|
|
6.69
|
%
|
|
June 30, 2012
|
|
|
$
|
0.0350
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
0.0350
|
|
|
6.03
|
%
|
|
|
6.69
|
%
|
|
May 31, 2012
|
|
|
$
|
0.0350
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
0.0350
|
|
|
6.12
|
%
|
|
|
6.82
|
%
|
|
April 30, 2012
|
|
|
$
|
0.0350
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
0.0350
|
|
|
5.87
|
%
|
|
|
6.67
|
%
|
|
March 31, 2012
|
|
|
$
|
0.0350
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
0.0350
|
|
|
5.97
|
%
|
|
|
6.62
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Distribution rates are calculated by annualizing the distribution
declared during the period and then dividing the resulting annualized
distribution by the month-end NAV (in the case of NAV) or the month-end
closing price (in the case of Market Price). The distribution rate is
based on an estimation of investment income and may or may not include a
return of capital. The distribution rate is based solely on actual
distributions, which are made at the discretion of the Board.
This press release is not for tax reporting purposes but is being
provided to announce the amount of the Trust’s distributions that have
been declared by the Board. In early 2014, after definitive information
is available, the Trust will send shareholders a Form 1099-DIV
specifying how the distributions paid by the Trust during the calendar
year should be characterized for purposes of reporting the distributions
on a shareholder’s tax return (e.g., ordinary income, short-term capital
gain, long-term capital gain or return of capital).
About NexPoint Credit Strategies Fund
NexPoint Credit Strategies Fund is a closed-end fund managed by NexPoint
Advisors, L.P. The Fund is invested primarily in below investment grade
debt and equity securities and has the ability to hedge risk. The
manager attempts to exceed the return of Dow Jones Credit Suisse Hedge
Fund Index in a transparent, registered fund format with monthly
dividends. NexPoint Advisors, L.P. has served as the Fund’s investment
adviser since June 11th, 2012 and is an affiliate of Pyxis Capital,
L.P., the Fund’s investment adviser from December 15th, 2011 to June
10th, 2012 and Highland Capital Management, L.P., the Fund’s investment
adviser from inception in 2006 to December 14th, 2011. The Fund’s shares
were listed on the NYSE under the symbol “HCF” but effective September
10, 2012, they are trading under the symbol “NHF”. An investment in the
Fund is not appropriate for all investors. No assurance can be given
that the Fund will achieve its investment objectives.
Shares of closed-end investment companies frequently trade at a discount
to net asset value. The price of the Fund’s shares is determined by a
number of factors, several of which are beyond the control of the Fund.
Therefore, the Fund cannot predict whether its shares will trade at,
below or above net asset value.
Past performance does not guarantee future results.
