Form 4: Director Kay Tatum Acquires Shares of Herzfeld Caribbean Basin Fund Through Dividend Reinvestment

Director Kay Tatum acquired 195 shares of Herzfeld Caribbean Basin Fund (CUBA) through a dividend reinvestment program on May 10, 2024.

Summary

• On May 10, 2024, Kay Tatum, a director of Herzfeld Caribbean Basin Fund Inc. (CUBA), acquired 195 shares of common stock.
• The acquisition was part of a quarterly distribution where shareholders could elect to receive cash or shares of common stock.
• The distribution was $0.135375 per share to shareholders of record on March 27, 2024.
• The price per share used to calculate the number of shares issued in lieu of cash was $2.4067.
• Ms. Tatum received the shares as part of the Fiscal Q4 Distribution.

Sentiment

Score: 6

Explanation: The sentiment is neutral. It's a routine transaction related to dividend reinvestment, indicating a standard course of business.

Positives

• The director's participation in the dividend reinvestment program could be seen as a positive signal, indicating confidence in the fund's future.

Industry Context

Form 4 filings are standard disclosures required by the SEC when insiders, such as directors and officers, trade in their company's stock; this filing indicates a routine transaction related to dividend reinvestment.

Comparison to Industry Standards

• Dividend reinvestment programs are common among closed-end funds like Herzfeld Caribbean Basin Fund, allowing shareholders to increase their holdings without incurring brokerage fees.
• The specifics of the cash/stock distribution election are typical for funds seeking to manage their cash flow and shareholder preferences.

Stakeholder Impact

• The transaction has a minimal direct impact on stakeholders, as it's a routine acquisition of shares through a dividend reinvestment program.

Key Dates