DWS High Income Opportunities Fund, Inc. Announces Extension of Share Repurchase Program
NEW YORK--(BUSINESS WIRE)--DWS High Income Opportunities Fund, Inc. (NYSE: DHG), announced that the Fund’s Board of Directors has extended the Fund’s 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 Fund’s 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., the Fund’s investment adviser, and subject to market conditions and investment considerations. DIMA will seek to purchase shares at prices that will be accretive to the Fund’s net asset value.
The Board’s 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 Fund’s 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 Fund’s upcoming Annual Report to Stockholders.
For more information on DHG visit www.dws-investments.com or call (800) 349-4281.