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In the News
Voya Prime Rate Trust: Activists Force A Metamorphosis
Saba controlled the entire board of PPR and forced the resignation of their manager. An analysis of Saba's intent and objectives is presented here.
Here Are The Dates You Need To Know For Tender Offers
We seem to discuss rights offerings ad nauseam. However, we haven't really touched on the basics of a tender offer.
PPR - $.0067 May Dividend
SCOTTSDALE, Ariz.--(BUSINESS WIRE)--Voya Prime Rate Trust (NYSE: PPR), a diversified closed-end management investment company listed on the New York Stock Exchange, declared a monthly dividend of 0.67 cents per share on May 28, 2021, payable on June 22, 2021 to shareholders of record on June 10, 2021. This represents the 397th consecutive monthly dividend since the Trust's inception in May 1988. The following is the annualized distribution rate calculation based on the declared dividend for the
PPR - $.0070 April Dividend
SCOTTSDALE, Ariz.--(BUSINESS WIRE)--Voya Prime Rate Trust (NYSE: PPR), a diversified closed-end management investment company listed on the New York Stock Exchange, declared a monthly dividend of 0.70 cent per share on April 30, 2021, payable on May 17, 2021 to shareholders of record on May 10, 2021. This represents the 396th consecutive monthly dividend since the Trust's inception in May 1988. The following is the annualized distribution rate calculation based on the declared dividend for the
Activist Saba Vs. Sponsor Voya: The Battle Is On
Activist Saba Vs. Sponsor Voya: The Battle Is On
PPR - $.0110 March Dividend
SCOTTSDALE, Ariz.--(BUSINESS WIRE)--Voya Prime Rate Trust (NYSE: PPR), a diversified closed-end management investment company listed on the New York Stock Exchange, declared a monthly dividend of 1.10 cents per share on March 31, 2021, payable on April 22, 2021 to shareholders of record on April 12, 2021. This represents the 395th consecutive monthly dividend since the Trust's inception in May 1988. The following is the annualized distribution rate calculation based on the declared dividend for
Which Eaton Vance Short Duration Taxable CEFs Will Be Liquidated At NAV?
Favorite liquidation at NAV exit strategy for excess returns is the Eaton Vance Short Duration Diversified Income Fund (EVG), whose shareholders already voted once in January with an outcome NOT to approve a new advisory agreement. EVG's control shareholder SIT Investment Associates would be avoiding a nearly $50 million windfall for clients' assets to accept a lesser plan than liquidation.
The Board of Trustees of Voya Prime Rate Trust Selects Saba Capital as New Investment Adviser
SCOTTSDALE, Ariz.--(BUSINESS WIRE)--Voya Prime Rate Trust (NYSE: PPR) (the “Fund”) announced today that the Board of Trustees (the “Board”) has selected Saba Capital Management, LP (“Saba”) to serve as the new investment adviser to the Fund (the “Adviser Transition”). The Fund's current investment adviser, Voya Investments, LLC (“VIL”), and the Fund's current sub-adviser, Voya Investment Management Co. LLC (“Voya IM”), both previously announced their respective resignations, effective as of Jun
PPR - $.0108 February Dividend
SCOTTSDALE, Ariz.--(BUSINESS WIRE)--Voya Prime Rate Trust (NYSE: PPR), a diversified closed-end management investment company listed on the New York Stock Exchange, declared a monthly dividend of 1.08 cents per share on February 26, 2021, payable on March 22, 2021 to shareholders of record on March 10, 2021. This represents the 394th consecutive monthly dividend since the Trust's inception in May 1988. The following is the annualized distribution rate calculation based on the declared dividend
Voya Prime Rate Trust Announces Change to Record Date for Determining Shareholders
SCOTTSDALE, Ariz.--(BUSINESS WIRE)--Voya Prime Rate Trust (NYSE: PPR) (“the Fund”) announced today that to meet the 10 day notice requirement of the NYSE, the Board of Trustees for the Fund has changed the record date for determining shareholders of record for the special shareholder meeting announced yesterday and tentatively scheduled to be held on Friday, May 21, 2021 to March 8, 2021 from March 5, 2021. Important Notice This press release is for informational purposes only and shall not con