Blue Chip Value Fund Declares Distribution of 66 Cents Per Share

Strategic Insights -

The directors of the Blue Chip Value Fund Inc. have declared a distribution of 66 cents per share, bringing the total year-to-date distribution to 10 percent of the fund's average net asset value. This will be the second distribution of the year, following a 9 cents payment. The fund expects to maintain a policy of making total annual distributions equal to 10 percent of its net asset value (NAV) in the coming year.

Key Takeaways:

  • The Blue Chip Value Fund Inc. has declared a distribution of 66 cents per share, to be paid on January 13, 1995, to stockholders of record as of December 30, 1994.
  • The distribution is a total of 10 percent of the fund's average net asset value, with a 9 cents payment made earlier in the year.
  • The fund's portfolio is an approximately equally weighted portfolio of 50 stocks selected using the advisor's Modern Value Investing Approach (R).
  • The fund features a Dividend Reinvestment and Cash Purchase Plan.
  • As of December 15, 1994, the NAV was $7.56, the stock closed at $6-5/8, with a 12.4 percent discount.

Statistics:

  • Distribution: 66 cents per share
  • Total year-to-date distribution: 10 percent of NAV
  • Ex-dividend date: December 23, 1994
  • NAV as of December 15, 1994: $7.56
  • Closing stock price: $6-5/8
  • Discount: 12.4 percent
  • Number of stocks in the portfolio: 50

Sources:

  • Business Wire, "Blue Chip Value Fund Inc. Declares Distribution", December 16, 1994.