abrdn Asian Income Fund Limited Fourth Interim Dividend Declaration (7032Z)
January 15 2024 - 4:18AM
UK Regulatory
TIDMAAIF
RNS Number : 7032Z
abrdn Asian Income Fund Limited
15 January 2024
abrdn Asian Income Fund Limited (the "Company")
Legal Entity Identifier (LEI): 549300U76MLZF5F8MN87
15 January 2024
Declaration of Fourth Interim Dividend
The Directors of the Company have today declared an increased
fourth interim dividend in respect of the year ending 31 December
2023 of 4.25p per Ordinary share of No Par Value (fourth interim
for 2022: 3.10p). The dividend will be payable on 23 February 2024
to Ordinary shareholders on the register on 26 January 2024,
ex-dividend date 25 January 2024.
The total dividend for 2023 amounts to 11.75p, representing an
increase of 17.5% compared to the previous year (2022: 10.00p), and
the Board is pleased to note that this represents the fifteenth
consecutive year of annual dividend increases and means that the
Company continues to be a "next generation dividend hero" as
recognised by the Association of Investment Companies. The dividend
for the year equates to a dividend yield of 5.8% based on the
closing share price of 201p on 12 January 2024 and is expected to
be fully covered by earnings for the year ended 31 December
2023.
In the absence of unforeseen circumstances, it is the Board's
intention to continue to increase the level of dividend in future
years.
Ian Cadby, Chairman stated:
"In line with what I said in my statement as at 31 December
2022, our investment manager has continued its focus through 2023
on high-yielding companies throughout the Asia region with strong
fundamentals and as a result we have seen growth in dividend
receipts flowing into the portfolio. The Board is very aware of the
importance of dividends to shareholders, as well as providing an
above-average yield and ensuring that those dividends grow over
time. We are therefore pleased to be announcing an
above-inflationary increase in dividend with an above-average yield
today"
The Company operates a Dividend Reinvestment Plan ("DRIP") which
is managed by the registrar, Link Group, and the deadline for
elections under the DRIP will be 2 February 2024.
abrdn Investments Limited
Administrator
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END
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January 15, 2024 05:18 ET (10:18 GMT)
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