Aberdeen Income Credit Strategies Fund Announces Monthly Distribution

Rhea-AI Summary

Aberdeen Income Credit Strategies Fund (NYSE: ACP) announced a monthly distribution of $0.10 per share, payable on October 30, 2020, to shareholders of record by October 19, 2020. This represents a reduction from the previous distribution of $0.12 per share, which was disclosed on September 10, 2020. Shareholders will receive a Form 1099-DIV in January 2021 for tax purposes. The Fund, managed by Aberdeen Asset Managers Limited, trades on the NYSE under the symbol ACP, with no assurances of achieving its investment objectives.

Positive

• Monthly distribution of $0.10 per share announced.
• Distribution date set for October 30, 2020.

Negative

• Monthly distribution reduced from $0.12 to $0.10 per share.

PHILADELPHIA, Oct. 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 October 30, 2020 to all shareholders of record as of October 19, 2020 (ex-dividend date October 16, 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 Fund 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 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 new distribution amount for ACP for October 2020?

The new distribution amount for ACP for October 2020 is $0.10 per share.

When will the distribution be paid to ACP shareholders?

The distribution will be paid on October 30, 2020.

What was the previous distribution amount for ACP?

The previous distribution amount for ACP was $0.12 per share.

What is the record date for the ACP distribution?

The record date for the ACP distribution is October 19, 2020.

When will shareholders receive tax information for ACP distributions?

Shareholders will receive a Form 1099-DIV in January 2021.