Prudential Short Duration High Yield Fund, Inc. (NYSE:ISD) (the
“Fund”), a diversified, closed-end management investment company,
announced today its unaudited investment results for the quarter ended
August 31, 2014.
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As of
August 31, 2014
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As of
May 31, 2014
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As of
August 31, 2013
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Net Assets
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$617,340,383
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$626,020,824
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$626,849,269
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Loan Outstanding
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$243,000,000
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$238,000,000
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$209,000,000
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Shares Outstanding
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33,256,724
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33,256,724
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33,256,724
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Net Asset Value ("NAV") Per Share (a)
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$18.56
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$18.82
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$18.85
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Market Price Per Share (b)
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$17.49
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$17.84
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$17.75
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Premium / (Discount) to NAV (c)
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-5.8%
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-5.2%
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-5.8%
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Undistributed / (Overdistributed) Net Investment Income (d)(e)
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$6,413,610
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$5,419,836
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$6,904,834
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Undistributed / (Overdistributed) Net Investment Income Per Share (d)
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$0.19
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$0.16
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$0.21
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Quarter Ended
August 31, 2014
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Quarter Ended
May 31, 2014
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Quarter Ended
August 31, 2013
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Quarterly Earnings
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Net Investment Income
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$13,215,620
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$13,336,584
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$13,372,526
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Net Realized and Unrealized Gain (Loss)
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($9,674,216)
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($6,852,410)
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($12,222,194)
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Net Increase / (Decrease) in Net Assets From Operations
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$3,541,404
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$6,484,174
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$1,150,332
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Quarterly Earnings Per Common Share
Outstanding
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Net Investment Income
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$0.40
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$0.40
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$0.40
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Net Realized and Unrealized Gain / (Loss)
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($0.29)
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($0.21)
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($0.37)
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Net Increase / (Decrease) in Net Assets From Operations
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$0.11
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$0.19
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$0.03
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Notes:
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(a)
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Net Asset Value (“NAV”) Per Share is total assets less total
liabilities divided by the number of shares outstanding.
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(b)
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Market Price Per Share is the closing price on the New York Stock
Exchange.
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(c)
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Premium / (Discount) to NAV is the % difference between the market
price and the NAV price.
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(d)
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Overdistributed amounts may be funded by capital gains on portfolio
securities or through return of shareholder’s capital.
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(e)
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Includes prior fiscal year-end undistributed net investment income
of $5,419,836 for fiscal year ended 5/31/2014 and $5,752,744 for
fiscal year ended 5/31/2013.
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This financial data is unaudited. Amounts do not reflect adjustments for
Generally Accepted Accounting Principles including those relating to
amortization of premiums on securities held.
The Fund files its annual and semi-annual stockholders reports on Form
N-CSR, as well as complete schedule of investments with the Securities
and Exchange Commission (the "Commission") for the first and third
quarters of each fiscal year on Form N-Q. The Fund’s Forms N-Q are
available on the Commission’s website at http://www.sec.gov.
The Fund’s Forms N-Q may also be reviewed and copied at the Commission’s
Public Reference Room in Washington, D.C. Information on the operation
and location of the Public Reference Room may be obtained by calling
(202) 551-8090. To obtain information on Form N-Q or annual and
semi-annual stockholder reports, shareholders can call (800) 451-6788
(toll-free). You may also call this number to request additional
information or to make other inquiries pertaining to the Fund.
Data and commentary provided in this press release are for informational
purposes only. Prudential Investments LLC, the Investment Manager of the
Fund, and its affiliates do not engage in selling shares of the Fund.
The Fund is sub-advised by Prudential Fixed Income, a business unit of
Prudential Investment Management, Inc. and an affiliate of the
investment manager.
The Fund invests in high yield (“junk”) bonds, which are subject
to greater credit and market risks; derivative securities, which
may carry market, credit, and liquidity risks; foreign securities,
which are subject to currency fluctuation and political uncertainty; and emerging
markets securities, which are subject to greater volatility and
price declines. Fixed income investments are subject to interest
rate risk, where their value will decline as interest rates rise. There
are fees and expenses involved with investing in the Fund.
Diversification does not assure a profit or protect against a loss in
declining markets. There is no guarantee that dividends or distributions
will be paid.
Prudential Investments® is the mutual fund business of
Prudential Financial, Inc., offering a range of open- and closed-end
funds. Please visit www.prudentialfunds.com
for more information.
Prudential Financial, Inc. (NYSE: PRU), a financial services leader with
more than $1.1 trillion of assets under management as of June 30, 2014,
has operations in the United States, Asia, Europe, and Latin America.
Prudential’s diverse and talented employees are committed to helping
individual and institutional customers grow and protect their wealth
through a variety of products and services, including life insurance,
annuities, retirement-related services, mutual funds and investment
management. In the U.S., Prudential’s iconic Rock symbol has stood for
strength, stability, expertise and innovation for more than a century.
For more information, please visit www.news.prudential.com.
Prudential Fixed Income is a unit of Prudential Investment Management,
Inc., which is a registered investment advisor and Prudential Financial
company. © 2014 Prudential Financial, Inc. and its related entities.
Prudential Investments LLC, Prudential, the Prudential logo, and the
Rock symbol are service marks of Prudential Financial, Inc. and its
related entities, registered in many jurisdictions worldwide.
Control Number: 0268001-00001-00
Copyright Business Wire 2014