Form 4: Director Kay Tatum Acquires Shares in Herzfeld Caribbean Basin Fund Through Distribution

Kay Tatum, a director of Herzfeld Caribbean Basin Fund Inc., acquired 206 shares of common stock through a quarterly distribution paid in cash and shares.

Summary

• On July 15, 2024, Kay Tatum, a director of Herzfeld Caribbean Basin Fund Inc. (CUBA), acquired 206 shares of common stock.
• The acquisition was part of a quarterly distribution where stockholders could elect to receive cash or shares.
• The distribution was $0.135375 per share to stockholders of record on June 3, 2024.
• The price per share used to calculate the number of shares issued in lieu of cash was $2.3329.
• The total amount of cash distributed was limited to 20% of the total distribution, excluding cash paid for fractional shares, with the remainder paid in shares.

Sentiment

Score: 6

Explanation: The sentiment is neutral. It's a routine transaction related to a distribution. The director's participation is a slightly positive signal, but it's not a major event.

Positives

• The director's participation in the share distribution program could be seen as a positive signal, indicating confidence in the fund's prospects.

Future Outlook

The document does not contain any specific forward-looking statements or guidance.

Industry Context

This filing reflects routine transactions related to fund distributions, which are common in closed-end funds like Herzfeld Caribbean Basin Fund. These distributions are a mechanism to return capital to shareholders and can be influenced by the fund's investment performance and market conditions.

Comparison to Industry Standards

• Herzfeld Caribbean Basin Fund is a closed-end fund, and its distribution policy is comparable to other closed-end funds that offer periodic distributions to shareholders.
• The option to receive distributions in cash or shares is a common feature among similar funds, allowing shareholders to choose their preferred method of receiving returns.
• Funds like the Eaton Vance Tax-Managed Diversified Equity Income Fund and the BlackRock Enhanced Equity Dividend Trust also employ similar distribution strategies.

Stakeholder Impact

• Shareholders received a distribution in either cash or shares.
• The distribution impacts the fund's assets and potentially its net asset value.

Key Dates