Home Alts News CIM Interval Fund Increases Annual Dividend Rate by Nearly 17%

CIM Interval Fund Increases Annual Dividend Rate by Nearly 17%

CIM Real Assets & Credit Fund announced that the interval fund’s board of directors has declared monthly cash dividends of approximately $0.148 per share of Class A shares, $0.145 per share of Class C shares, $0.149 per share of Class I shares and $0.147 per share of Class L shares for each of April, May and June 2023.

This represents an annual dividend rate of 7% of NAV, up from 6%, representing a 16.7% increase. CIM says the increased dividend will be payable by May 3, 2023 to shareholders of record as of May 1, 2023.

CIM Real Assets & Credit Fund is a non-diversified, closed-end management investment company that continuously offers its common shares and is operated as an interval fund. The fund invests across real assets and corporate credit, providing an opportunity to invest alongside CIM Group’s income-oriented strategies. CIM Real Assets & Credit Fund was declared effective in April 2020 and has raised $325.1 million as of Feb. 28, 2023.

Click here to visit The DI Wire directory page.