abrdn Asian Income Fund Limited Second Interim Dividend
18 Julio 2024 - 3:40AM
RNS Regulatory News
RNS Number : 9379W
abrdn Asian Income Fund Limited
18 July 2024
abrdn
Asian Income Fund Limited (the "Company")
Legal Entity Identifier (LEI):
549300U76MLZF5F8MN87
18
July 2024
Declaration of Second Interim Dividend
The Directors of the Company have
today declared a second interim dividend in respect of the year
ending 31 December 2024 of 2.55p per Ordinary share of No Par Value
(2023: 2.50p). The dividend will be payable on 23 August 2024 to
Ordinary shareholders on the register on 26 July 2024, ex-dividend
date 25 July 2024.
The Board is aware of the importance
of dividends to shareholders. In the absence of unforeseen
circumstances it is the Board's intention to increase the level of
dividend for the year (2023: 11.75p) so as to enable the Company to retain its status as a "next generation
dividend hero" as recognised by the Association of Investment
Companies.
It is the Board and the Investment
Manager's view that Asia remains one of the most compelling regions
for investors looking for growth and income potential. More than
50% of Asian equity total returns now come from dividends and
dividend growth in Asia has exceeded that of Europe and the US.
Companies in Asia have less geared balance sheets than their global
peers and free cash flow generation cover on dividends has been
increasing, both of which highlight the potential for increasing
payout ratios in the region.
The Board and the Investment Manager
believe that the often overlooked dividend credentials of Asian
equities will become ever more attractive, with investors
increasingly recognising the income potential of some of the
world's most exciting companies.
The level of the remaining two
dividends for 2024 will be considered at each quarter end, at which
point an announcement will be made by the Company. In the
event of an uncovered dividend, there are healthy revenue reserves
built up by the Company that the Board will consider using as
appropriate. Any decision as to whether revenue reserves will be
utilised (and by how much) will be taken at the time of the
declaration of the fourth interim dividend in January
2025.
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
August 2024.
abrdn
Investments Limited
Administrator
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Abrdn Asian Income (LSE:AAIF)
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Abrdn Asian Income (LSE:AAIF)
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