You gotta love a fund that suspends a dividend and then claims it’s in the best interest of shareholders while failing to mention the benefit of the suspension to the managers. That’s right, by keeping the cash in-house (rather than paid out as dividends) the managers, Royce and Associates, continues to earn asset based fees on the cash.

If the fund really cared about shareholders they would use the cash that would otherwise be paid as dividends to buy back their stock (or their preferred stock) on the open market at a discount.