DWS High Income Opportunities Fund, Inc. Announces Extension of Share Repurchase Program
NEW YORK--(BUSINESS WIRE)-- DWS High Income Opportunities Fund, Inc. (DHGWD) (NYSE: DHG), (the Fund) announced today that the Funds Board of Directors has extended the Funds existing open-market share repurchase program for an additional twelve-month period. The Fund may continue to purchase an aggregate of up to 5% of the Funds outstanding shares of common stock in open-market transactions over the period from December 1, 2012 until November 30, 2013. The amount and timing of the repurchases will be at the discretion of Deutsche Investment Management Americas Inc. (DIMA), the Funds investment adviser, and subject to market conditions and investment considerations. DIMA will seek to purchase shares at prices that will be accretive to the Funds net asset value (NAV).
The Boards authorization of the repurchase program extension follows the previous repurchase program, which commenced on December 1, 2011 and runs until November 30, 2012. The Board believes that the share repurchase program is a helpful tool for continuing to address any significant Fund discount to NAV and for creating a measure of additional liquidity for Fund shares. The Board will monitor the impact of the share repurchase program on the discount and may consider, from time to time, additional or alternative measures to address the discount that may be appropriate in the future. In doing so, it will also continue to monitor the effects of the repurchase program and may consider the potential impact of such other measures on the Funds expense ratio, its portfolio turnover and its ability to achieve its objectives. Results of repurchases under the program for the year ended September 30, 2012 will be available in the Funds upcoming Annual Report to Stockholders.
For more information on DHG visit www.dws-investments.com or call (800) 349-4281.
DWS High Income Opportunities Fund, Inc. is subject to investment risk. Any fund that concentrates in a particular segment of the market will generally be more volatile than a fund that invests more broadly. Bond investments are subject to interest-rate and credit risks. When interest rates rise, bond prices generally fall. Credit risk refers to the ability of an issuer to make timely payments of principal and interest. Investments in lower-quality and non-rated securities present greater risk of loss than investments in higher-quality securities. There are special risks associated with an investment in real estate, including REITS. These risks include credit risk, interest rate fluctuations and the impact of varied economic conditions. Stocks may decline in value. Investing in foreign securities, particularly those of emerging markets, presents certain risks, such as currency fluctuations, political and economic changes, and market risks. Investing in derivatives entails special risks relating to liquidity, leverage and credit that may reduce returns and/or increase volatility. Leverage results in additional risks and can magnify the effect of any losses.
Shares of common stock of closed-end funds, unlike open-end funds, are not continuously offered. There is a one time public offering and, once issued, shares of common stock of closed-end funds are traded in the open market generally through a stock exchange. Common shares of closed-end funds frequently trade at a discount to net asset value. The price of common shares is determined by a number of factors, several of which are beyond the control of the Fund. Therefore, the Fund cannot predict whether its common shares will trade at, below, or above net asset value.
This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of Fund securities in any state or jurisdiction in which such offer or solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction.
Certain statements contained in this release may be forward-looking in nature. These include all statements relating to plans, expectations, and other statements that are not historical facts and typically use words like expect, anticipate, believe, and similar expressions. Such statements represent management's current beliefs, based upon information available at the time the statements are made, with regard to the matters addressed. All forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in, or implied by, such statements. Management does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
The following factors, among others, could cause actual results to differ materially from forward-looking statements: (i) the need to obtain any necessary regulatory approvals; (ii) the effects of changes in market and economic conditions; (iii) other legal and regulatory developments; and (iv) other additional risks and uncertainties.
NOT FDIC/ NCUA INSURED " MAY LOSE VALUE " NO BANK GUARANTEE
NOT A DEPOSIT " NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY
DWS Investments is part of Deutsche Banks Asset Management division and, within the US, represents the retail asset management activities of Deutsche Bank AG, Deutsche Bank Trust Company Americas, Deutsche Investment Management Americas Inc. and DWS Trust Company. (R-8482-4 9/11)
Deutsche Bank Press Office, 212-250-5536
Shareholder Account Information, 800-294-4366
DWS Closed-End Funds, 800-349-4281
Source: DWS High Income Opportunities Fund, Inc.Copyright Business Wire 2012