Japan Smaller Capitalization Fund Launches 98% NAV Tender Offer and Raises Distribution 8%
The Fund’s board approved a tender offer to buy up to 10% of shares at 98% of NAV from June 1 to July 1, 2026, with pro rata purchases if oversubscribed. The monthly distribution increases by 8% to $0.0956 per share, yielding 9% on NAV under the re-leveled plan.
1. Tender Offer Details
The board approved a conditional tender offer to purchase up to 10% of issued shares at 98% of NAV per share. The offer opens June 1 and expires July 1, with a July 2 pricing date; oversubscriptions will be filled pro rata.
2. Distribution Plan Adjustment
Under the leveled distribution plan, the monthly payout increases from $0.0887 to $0.0956 per share, reflecting a 9% yield on NAV. Distributions will be paid July through September, primarily in cash or shares under the dividend reinvestment plan.
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