23.86% seems rather out of line. I am familiar with split share structures and own a couple of Brompton funds such as LBS ( 15% divy ) and SBC ( 10.1% ).
Check out www.bromptongroup.com to learn more about split share structures.
In a nutshell , the fund is split into 2 , prefered shares and common shares, with the common shares paying more but are not guaranteed like the preferreds.
Rico