PGIM High Yield Bond Fund lends through below-investment-grade bonds and related credit. Its income depends on borrowers making payments; defaults and recoveries determine how much of that income translates into lasting value.
Business
Credit and multi-sector income funds
Listing
ISD · New York Stock Exchange
Reporting period
2026-01-31
Dividend schedule
Monthly
How the business works
Bond interest becomes net investment income after fund and financing costs. Credit losses and price moves sit outside recurring income and also affect NAV.
Extras are shown separately and are not assumed to repeat.
Reported earnings
Each measure shown separately, per share
Net investment income$0.44
Aug 1, 2025 to Jan 31, 2026
$0.00$0.44
Distribution yield10.40%Sourced distributions divided by dated market priceReported annual income yield6.35%Reported net investment income $0.9100 per share for 2024-08-01 to 2025-07-31, divided by approved 2025-07-31 market price $14.3400. Excludes capital gains; historical, not a current yield or forecast.Annual dividend$1.26Current regular payment annualized per share
Dividend payment history
Date or month
Per share
Sep 30, 2026
$0.105
Reported earnings and sources
Reported earnings for the latest four periods. Compare the same earnings measure across periods; different measures are not added together.
Cash distributions are the total paid per share during each reporting period, including any gains or return of capital. Period lengths may differ, so compare the dates before comparing amounts. Short periods are not annualized.
NAV change excludes distributions. Reported NAV total return includes reinvestment and is copied from the fund statement, not estimated by adding cash distributions to the NAV change.
Distribution and NAV evidence
Cash paid, opening and closing NAV, and the fund-reported NAV total return are separate observations. NAV change excludes distributions. These figures show outcomes, not which source funded a payment or whether future distributions are sustainable. Net investment income excludes investment gains and is not a payout-coverage ratio.
Fund net investment income per common share; actual reporting period, not annualized$0.4400
$0.00$0.50
For the six months ended January 31, 2026, ISD recorded $0.44 of net investment income per common share and $0.63 of distributions. NAV moved from $14.11 to $14.03. Income provided most, but not all, of the payment; read realized credit results and payment sources before deciding what filled the gap.
Bond interest, less expenses and financing costs, is the central recurring income source. A declared distribution can include gains or return of capital as well as investment income; its amount is not an earnings figure.
The earnings available to shareholders depend on the cash generated by these activities after operating and financing costs. Portfolio gains, financing proceeds and recurring income should be evaluated separately.
The portfolio information checked September 11, 2026 reports effective leverage of 20.36%.
Financing can increase earning assets, but its cost reduces income available to common shareholders. When borrowing costs rise or portfolio income falls, the distribution can become harder to sustain.
PGIM High Yield Bond Fund, Inc. reported $0.4400 per share for 2025-08-01 through 2026-01-31, measured as Fund net investment income per common share; actual reporting period, not annualized.
Actual per-share reporting period, without annualisation. Net investment income, realized gains, unrealized changes and cash distributions are different measures. This comparison is not the Fly High forward Dividend Coverage Ratio.
Losses or weaker cash generation in credit and multi-sector income investments can reduce the resources available for future distributions.
Watch for changes in the underlying exposure and the next reported results before treating the current payment as evidence of continuing earnings support.
A maintained payment can exceed investment results. Review NAV and reported income together rather than treating distribution yield as total return.
Watch for changes in the underlying exposure and the next reported results before treating the current payment as evidence of continuing earnings support.
The next six-month report should show whether borrower payments, defaults and borrowing costs improved the income-to-cash comparison. Watch NAV and distribution sources too.
Net asset value (NAV)
NAV per share$13.01Sep 29, 2026Market price$11.72Sep 29, 2026PREMIUM / DISCOUNT TO NAV9.92% discountCalculated from the displayed same-date values.
NAV is the fund's assets minus liabilities, divided by shares outstanding. All values are USD per share.
CEFConnect current common-share NAV and closing market price, both dated 2026-09-29. The published premium or discount agrees with the calculation within source rounding. Older audited NAV history remains unchanged.
The next six-month report should show whether borrower payments, defaults and borrowing costs improved the income-to-cash comparison. Watch NAV and distribution sources too.
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U.S. federal · Tax year 2025
Dividend tax treatment
For ISD's December 31, 2025 payment, PGIM estimated 38% return of capital.
Total ordinary dividends
Not confirmed
Qualified dividends
Not confirmed
Capital-gain distributions
Not confirmed
Return of capital
38%
This is a close look at the payment dates named above, not a verdict on every distribution paid in 2025. Other payments can have a different mix. Use this estimate to understand those checks, then compare the whole year with your tax statement.
The company calls this breakdown an estimate. This covers only the $0.1050 December 31 payment, not all of 2025. PGIM estimated $0.0399 return of capital for this payment. Its fiscal-year-to-date percentage covers a different period. The 2025 Form 8937 covers February through July payments separately. Your Form 1099-DIV may show a different final mix. See the company's estimate.
Tax year: 2025.
Tax details and source
Total ordinary dividends (includes qualified)
Not confirmed
Section 199A portion (within ordinary dividends)
Not confirmed
Exempt-interest distributions
Not confirmed
Reporting form
Form 1099-DIV
Source date
2025-12-31
Qualified dividends are included in total ordinary dividends. Section 199A is a separate designation within ordinary dividends, not extra income or qualified dividend income.
Your account type, holding period and circumstances affect treatment. Use your broker’s tax statement for filing. Return of capital generally reduces cost basis; amounts beyond basis can be taxable. IRS dividend guidance.
