Form 4: Cecilia Gondor Increases Holdings in Herzfeld Caribbean Basin Fund Through Stock Distribution

Director Cecilia Gondor acquired 1,631 shares of Herzfeld Caribbean Basin Fund Inc. through a stock distribution related to the fund's quarterly dividend.

Summary

• Cecilia Gondor, a director of Herzfeld Caribbean Basin Fund Inc., acquired 1,631 shares of common stock on May 10, 2024.
• The acquisition was part of the fund's quarterly distribution, where shareholders could elect to receive the dividend in cash or shares.
• The distribution was $0.135375 per share, with the share price for the distribution calculated at $2.4067.
• The total shares owned by Ms. Gondor after the transaction is 40,235.

Sentiment

Score: 6

Explanation: The document reflects a routine transaction (dividend distribution) and doesn't contain any significantly positive or negative information. The director increasing their holdings is a mildly positive signal.

Positives

• The director's increased stake could be seen as a positive signal about the fund's prospects.

Future Outlook

There is no future outlook provided in this document.

Industry Context

This filing reflects routine transactions related to dividend distributions for closed-end funds like Herzfeld Caribbean Basin Fund, which often offer shareholders the option to receive dividends in cash or stock.

Comparison to Industry Standards

• Closed-end funds like the Herzfeld Caribbean Basin Fund often distribute dividends in cash or shares, similar to other funds such as the Templeton Emerging Markets Fund (EMF) or the BlackRock Latin America Investment Trust (LTAM).
• The distribution policy of offering both cash and stock options is a common practice among closed-end funds to manage their assets and provide flexibility to shareholders.

Stakeholder Impact

• Shareholders who elected to receive the dividend in stock saw an increase in their holdings.
• The fund manages its cash flow by distributing a portion of the dividend in shares.

Key Dates