PGIM Global High Yield Fund (GHY) Declares $0.10 Dividend

PGIM Global High Yield Fund said on May 31, 2023 that its board of directors declared a regular monthly dividend of $0.10 per share ($1.26 annualized). Previously, the company paid $0.10 per share.

Shares must be purchased before the ex-div date of June 15, 2023 to qualify for the dividend. Shareholders of record as of June 16, 2023 will receive the payment on June 30, 2023.

At the current share price of $10.94 / share, the stock's dividend yield is 11.52%.

Looking back five years and taking a sample every week, the average dividend yield has been 9.45%, the lowest has been 7.85%, and the highest has been 14.11%. The standard deviation of yields is 1.14 (n=236).

The current dividend yield is 1.81 standard deviations above the historical average.

The company has not increased its dividend in the last three years.

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What is the Fund Sentiment?

There are 115 funds or institutions reporting positions in PGIM Global High Yield Fund. This is a decrease of 4 owner(s) or 3.36% in the last quarter. Average portfolio weight of all funds dedicated to GHY is 0.17%, a decrease of 23.41%. Total shares owned by institutions decreased in the last three months by 3.60% to 20,818K shares.

What are Other Shareholders Doing?

Sit Investment Associates holds 962K shares. In it's prior filing, the firm reported owning 1,200K shares, representing a decrease of 24.78%. The firm decreased its portfolio allocation in GHY by 21.39% over the last quarter.

Penserra Capital Management holds 894K shares. In it's prior filing, the firm reported owning 876K shares, representing an increase of 2.02%. The firm increased its portfolio allocation in GHY by 93,090.49% over the last quarter.

Rivernorth Capital Management holds 882K shares. In it's prior filing, the firm reported owning 1,102K shares, representing a decrease of 24.96%. The firm decreased its portfolio allocation in GHY by 12.96% over the last quarter.

YYY - Amplify High Income ETF holds 878K shares. In it's prior filing, the firm reported owning 808K shares, representing an increase of 7.98%. The firm decreased its portfolio allocation in GHY by 0.04% over the last quarter.

Cohen & Steers holds 858K shares. In it's prior filing, the firm reported owning 891K shares, representing a decrease of 3.93%. The firm decreased its portfolio allocation in GHY by 4.68% over the last quarter.

PGIM Global High Yield Fund Background Information
(This description is provided by the company.)

PGIM,the global asset management business of Prudential Financial, Inc., ranks among the top 10 largest asset managers in the world* with $1.5 trillion in assets undermanagement as of December 31, 2020. With offices in 16 countries, PGIM's businesses offer arange of investment solutions for retail and institutional investors around the world across a broad range of asset classes, including public fixed income, private fixed income, fundamental equity, quantitative equity, real estate and alternatives.

This story originally appeared on Fintel.