NEW YORK, Sep 10, 2012 (BUSINESS WIRE) -- Managed High Yield Plus Fund Inc. (the "Fund") HYF +0.45% , a closed-end management investment company, today announced that the Fund's Board of Directors has declared a dividend from net investment income of $0.0150 per share. The dividend is payable on September 28, 2012 to shareholders of record as of September 20, 2012. The ex-dividend date is September 18, 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 August 31, 2012*
        Net Asset Value per share         $2.18
        Market Price per share            $2.23
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        NAV Yield                         8.26%
        Market Yield                      8.07%
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        *  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.