Prudential Short Duration High Yield Fund, Inc. Reports Unaudited Earnings and Financial Position for Quarter Ended November
30, 2016
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 November 30, 2016.
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As of
November 30, 2016
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As of
August 31, 2016
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As of
November 30, 2015
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| Net Assets |
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$554,252,657 |
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$565,071,584 |
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$558,459,663 |
| Loan Outstanding |
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$205,000,000 |
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$205,000,000 |
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$200,000,000 |
| Shares Outstanding |
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33,256,724 |
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33,256,724 |
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33,256,724 |
| Net Asset Value ("NAV") Per Share (a) |
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$16.67 |
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$16.99 |
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$16.79 |
| Market Price Per Share (b) |
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$15.14 |
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$16.13 |
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$14.38 |
| Premium / (Discount) to NAV (c) |
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-9.2% |
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-5.1% |
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-14.4% |
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| Undistributed / (Overdistributed) Net Investment Income (d) |
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$2,941,123 |
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$3,285,878 |
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$4,515,784 |
| Undistributed / (Overdistributed) Net Investment Income Per Share |
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$0.09 |
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$0.10 |
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$0.14 |
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Quarter Ended
November 30, 2016
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Quarter Ended
August 31, 2016
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Quarter Ended
November 30, 2015
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Quarterly Earnings
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| Net Investment Income |
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$10,063,025 |
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$10,579,341 |
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$11,394,329 |
| Net Realized and Unrealized Gain (Loss) |
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($10,655,510) |
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$7,063,818 |
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($14,657,170) |
| Net Increase / (Decrease) in Net Assets From Operations |
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($592,485) |
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$17,643,159 |
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($3,262,841) |
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Quarterly Earnings Per Common Share Outstanding
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| Net Investment Income |
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$0.30 |
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$0.32 |
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$0.34 |
| Net Realized and Unrealized Gain / (Loss) |
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($0.32) |
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$0.21 |
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($0.44) |
| Net Increase / (Decrease) in Net Assets From Operations |
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($0.02) |
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$0.53 |
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($0.10) |
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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.
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Notes:
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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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Market Price Per Share is the closing price on the New York Stock Exchange. |
| (c) |
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Premium / (Discount) to NAV is the % difference between the market price and the NAV
price. |
| (d) |
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Overdistributed amounts may be funded by capital gains on portfolio securities or
through return of shareholder’s capital. Undistributed Net Investment Income ("UNII") represents the balance to date of a
fund’s net investment income less its distributions. Includes prior year UNII of $3,499,918 for the fiscal year ended 5/31/16
and $4,648,041 for the fiscal year ended 5/31/15. |
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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.
An investment in a closed-end fund’s common stock may be speculative in that it involves a high degree of risk, should not
constitute a complete investment program, and may result in loss of principal. Each closed-end fund will have its own unique
investment strategy, risks, charges, and expenses that need to be considered before investing.
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 subadvised by PGIM
Fixed Income, a business unit of PGIM, 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.
Investment products are not insured by the FDIC or any federal government agency, may lose value, and are not a deposit of or
guaranteed by any bank or any bank affiliate.
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., a financial services leader with more than $1.3 trillion of assets under management as of September
30, 2016, 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 United
States, Prudential’s iconic Rock symbol has stood for strength, stability, expertise, and innovation for more than a century. For
more information, please visit http://www.news.prudential.com/.
PGIM Fixed Income is a unit of PGIM, Inc., which is a registered investment advisor and Prudential Financial company. © 2017
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.
0300659-00001-00
Media:
Prudential Financial, Inc.
Judith Flynn, 973-802-9939
judith.flynn@prudential.com
View source version on businesswire.com: http://www.businesswire.com/news/home/20170104006387/en/