Destra Multi-Alternative Fund launches buyback, raises distribution

The Destra Multi-Alternative Fund (NYSE: DMA), a closed-end management investment company, announced a share repurchase program and an increase in its monthly distribution to $0.1150 per share for October, November, and December 2026.

Under the repurchase program, the fund may buy back shares of its common stock in the open market when shares trade at a discount to net asset value (NAV). Repurchases are expected to begin after an initial 30-day cooling-off period. Clear Street has been appointed as the executing broker. The program may be modified, suspended, or terminated at any time without prior notice.

The distribution schedule is as follows: the October 2026 distribution has a record and ex-dividend date of October 20, 2026, and is payable October 30, 2026; the November 2026 distribution has a record and ex-dividend date of November 18, 2026, and is payable November 30, 2026; the December 2026 distribution has a record and ex-dividend date of December 18, 2026, and is payable December 31, 2026.

The fund also disclosed that it has entered the Measurement Period related to its term structure continuation provisions. The fund's current term is scheduled to expire on March 31, 2027, unless extended by the Board of Trustees. The board may extend the term for up to one year at its discretion. If specified performance criteria are met during the Measurement Period, the fund may qualify for a continuation of up to three additional years.

"These actions demonstrate the Board's commitment to delivering value to shareholders while maintaining disciplined oversight of the Fund's capital allocation and term structure," said Robert A. Watson, President of the Fund.

The fund estimates that the October through December 2026 distributions will be paid from a combination of net investment income and other available sources. The exact characterization of distributions will not be determined until after the close of the fiscal year ending March 31, 2027. According to the press release, there is no assurance the fund will satisfy continuation criteria or that the board will elect to extend the term.

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