NEW YORK, Jun 11, 2012 (BUSINESS WIRE) -- Managed High Yield Plus Fund Inc. (the "Fund") HYF +0.48% , a closed-end management investment company, today announced that the Fund's Board of Directors has declared a dividend from net investment income of $0.0156 per share. The dividend is payable on June 29, 2012 to shareholders of record as of June 21, 2012. The ex-dividend date is June 19, 2012.

Managed High Yield Plus Fund Inc. seeks high income and, secondarily, capital appreciation, primarily through investments in lower-rated, income producing debt and related equity securities.

Characteristics as of May 31, 2012*

        Net Asset Value per share   $2.11
        Market Price per share      $2.10
        -------------------------   -----
        NAV Yield                   8.87%
        Market Yield                8.91%
        -------------------------   -----
        

* Net asset value (NAV), market price and yields will fluctuate. NAV yield is calculated by multiplying the current month's dividend by 12 and dividing by the month-end net asset value. Market yield is calculated by multiplying the current month's dividend by 12 and dividing by the month-end market price.