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 February 26, 2021, to shareholders of record as of February 19, 2021. This is a reduction from the previous distribution of $0.12 per share announced on September 10, 2020. The Fund's shares are traded on the NYSE, and the investment return may fluctuate, potentially affecting the value of shares. A Form 1099-DIV will be sent in January 2022 for tax purposes concerning 2021 distributions.

Positive

• Monthly distribution of $0.10 per share confirms ongoing income for investors.
• Distribution payment maintains shareholder engagement and trust.

Negative

• Reduction of monthly distribution from $0.12 to $0.10 indicates potential challenges in maintaining income levels.
• Fluctuating investment return and principal value may pose risks for investors.

PHILADELPHIA, Feb. 9, 2021 /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 February 26, 2021 to all shareholders of record as of February 19, 2021 (ex-dividend date February 18, 2021). As announced on September 10, 2020, the Fund reduced its monthly distribution from $0.12 per share to $0.10 per share. 

In January 2022, 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 2021 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 wish to receive this information electronically, please contact Investor.Relations@aberdeenstandard.com

aberdeenacp.com

View original content to download multimedia:http://www.prnewswire.com/news-releases/aberdeen-income-credit-strategies-fund-announces-monthly-distribution-301225313.html

SOURCE Aberdeen Income Credit Strategies Fund

FAQ

What is Aberdeen Income Credit Strategies Fund's distribution for February 2021?

The fund will distribute $0.10 per share on February 26, 2021.

Why was the distribution reduced for Aberdeen Income Credit Strategies Fund?

The monthly distribution was reduced from $0.12 to $0.10 due to challenges in sustaining income levels.

When is the record date for the February 2021 distribution?

The record date is February 19, 2021.

What should shareholders expect in January 2022 regarding tax information?

Shareholders will receive a Form 1099-DIV detailing the distribution amounts and tax treatment for 2021.

What is the ticker symbol for Aberdeen Income Credit Strategies Fund?

The ticker symbol is ACP.