The Herzfeld Caribbean Basin Fund, Inc. Declares $1.14 per Share Year-End Distribution Payable in Stock

MIAMI, FL--(Marketwired - Nov 14, 2013) - The Board of Directors of The Herzfeld Caribbean Basin Fund, Inc. (NASDAQ: CUBA) declared a year-end distribution of $1.14 per share, payable on January 7, 2014 to stockholders of record December 6, 2013. 

The Fund estimates that the distribution consists of $1.13 from long-term capital gains and $0.01 from short-term capital gains, although the final determination of the tax status will be made after the end of 2013. The distribution is taxable to stockholders for the calendar year 2013. 

The distribution will be payable in Fund shares unless the stockholder elects to receive cash. Currently, the market price per share of the common stock is trading at a discount to NAV but has at times traded at a premium to NAV. If the market price per share of common stock, on the payment date, is equal to or exceeds the NAV ("trading at a premium"), the distribution will be payable to stockholders in newly issued Shares valued at the greater of (1) NAV or (2) 95% of the then-current market price of the Shares. If the NAV on the payment date exceeds the market price of the Shares at the time ("trading at a discount"), the distribution will be payable to stockholders in Shares valued at the market price (as defined in the Fund's Dividend Reinvestment Plan).

Including this distribution, The Herzfeld Caribbean Basin Fund, Inc. will have paid a total of $5.58 per share in distributions since the Fund's inception in 1994.

About The Herzfeld Caribbean Basin Fund, Inc.

The Herzfeld Caribbean Basin Fund, Inc. is a closed-end fund managed by HERZFELD/CUBA a division of Thomas J. Herzfeld Advisors, Inc. (based in Miami). The Fund seeks long-term capital appreciation. To achieve its objective the Fund invests in issuers that are likely, in the Advisor's view, to benefit from economic, political, structural and technological developments in the countries in the Caribbean Basin, which the Fund considers to consist of Cuba, Jamaica, Trinidad and Tobago, the Bahamas, the Dominican Republic, Barbados, Aruba, Haiti, the Netherlands Antilles, the Commonwealth of Puerto Rico, Mexico, Honduras, Guatemala, Belize, Costa Rica, Panama, Colombia, Venezuela and the United States.

Thomas J. Herzfeld Advisors, Inc. specializes in the field of closed-end funds. Information about the advisor and the Fund can be found at www.herzfeld.com. 

Nasdaq Capital Market: CUBA
Cusip: 42804T106