Pacholder High Yield Fund suspends Dec. 9 dividend payment

By Jennifer Chiou

New York, Nov. 26 - The Pacholder High Yield Fund, Inc. announced that it has suspended the payment of the previously declared dividend on the fund's common shares.

It had been scheduled for Dec. 9.

The fund is not permitted to pay a dividend on its common shares unless its auction rate preferred shares have a minimum asset coverage of 200% after payment of the common share dividend.

Pacholder said that the asset coverage for the ARPS is less than 200%, prohibiting it from setting aside amounts necessary to pay the dividend declared on Nov. 12.

Accordingly, shareholders of record on Nov. 28 will not receive the dividend of $0.075 per share.

The Cincinnati-based fund is a closed-end diversified management investment company.

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