Aberdeen Income Credit Strategies Fund Announces Monthly Distribution

Rhea-AI Summary

The Aberdeen Income Credit Strategies Fund (NYSE: ACP) announced a monthly distribution of $0.10 per share, payable on January 8, 2021, to shareholders of record as of December 31, 2020. This marks a reduction from the previous distribution of $0.12 per share, effective since September 10, 2020. A Form 1099-DIV will be provided to shareholders in January 2021 detailing the amount and tax treatment of the distributions for the 2020 calendar year. The Fund is managed by Aberdeen Asset Managers Limited and shares may trade above or below net asset value.

Positive

• Monthly distribution of $0.10 per share indicates ongoing income for shareholders.
• Shareholders will receive a Form 1099-DIV for tax purposes.

Negative

• Reduction in monthly distribution from $0.12 to $0.10 per share may indicate financial strain.
• No assurance that the Fund will achieve its investment objective.

PHILADELPHIA, Dec. 9, 2020 /PRNewswire/ -- Aberdeen Income Credit Strategies Fund (NYSE: ACP) (the "Fund"), a closed-end fund, announced today that it will pay a distribution of US $0.10 per share on January 8, 2021 to all shareholders of record as of December 31, 2020 (ex-dividend date December 30, 2020). As announced on September 10, 2020, the Fund reduced its monthly distribution from $0.12 per share to $0.10 per share. 

In January 2021, a Form 1099-DIV will be sent to shareholders, which will state the amount and composition of distributions and provide information with respect to their appropriate tax treatment for the 2020 calendar year.   

The Fund is managed and advised by Aberdeen Asset Managers Limited. The Fund's shares trade on the NYSE under the symbol "ACP". 

You should not draw any conclusions about the Fund's investment performance from the amount of this distribution. 

In the United States, Aberdeen Standard Investments is the marketing name for the following affiliated, registered investment advisers:  Aberdeen Standard Investments Inc., Aberdeen Asset Managers Ltd., Aberdeen Standard Investments Australia Ltd., Aberdeen Standard Investments (Asia) Ltd., Aberdeen Capital Management, LLC, Aberdeen Standard Investments ETFs Advisors LLC and Aberdeen Standard Alternative Funds Limited.

Closed-end funds are traded on the secondary market through one of the stock exchanges. The Fund's investment return and principal value will fluctuate so that an investor's shares may be worth more or less than the original cost. Shares of closed-end funds may trade above (a premium) or below (a discount) the net asset value (NAV) of the fund's portfolio. There is no assurance that the Fund will achieve its investment objective.

If you If you wish to receive this information electronically, please contact Investor.Relations@aberdeenstandard.com

aberdeenacp.com

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SOURCE Aberdeen Income Credit Strategies Fund

FAQ

What is the upcoming distribution amount for Aberdeen Income Credit Strategies Fund ACP?

The Fund will distribute $0.10 per share on January 8, 2021.

When will Aberdeen Income Credit Strategies Fund announce the distribution?

The announcement was made on December 9, 2020.

What was the previous distribution amount for Fund ACP before the reduction?

The previous monthly distribution amount was $0.12 per share.

Who manages the Aberdeen Income Credit Strategies Fund?

The Fund is managed by Aberdeen Asset Managers Limited.

Will I receive a tax document for my distribution from ACP?

Yes, a Form 1099-DIV will be sent to shareholders in January 2021.