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Aberdeen Income Credit Strategies Fund Declares Quarterly Dividend for Its 5.25% Series a Perpetual Preferred Shares

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Aberdeen Income Credit Strategies Fund has declared a cash distribution of $0.328125 per share for its 5.250% Series A Perpetual Preferred Shares (NYSE:ACP PRA), payable on March 31, 2022. Shareholders on record by March 21, 2022, will receive this distribution, with an ex-dividend date of March 18, 2022. The Series A Preferred Shares, rated A2 by Moody's, pay an annual dividend of $1.3125 and were issued at $25.00 per share. Distributions may include income sources beyond ordinary income, and tax treatment details will be provided in a Form 1099-DIV in January 2023.

Positive
  • Quarterly dividend of $0.328125 per share for Series A Preferred Shares.
  • Annual dividend rate of $1.3125 per share indicates income for shareholders.
  • Series A Preferred Shares rated A2 by Moody's, enhancing investment attractiveness.
Negative
  • Distributions may come from sources other than ordinary income, raising sustainability concerns.
  • No assurance that the Fund will achieve its investment objective, indicating potential risk.

PHILADELPHIA, PA / ACCESSWIRE / March 9, 2022 / The Board of Trustees of Aberdeen Income Credit Strategies Fund (the "Fund"), has declared a cash distribution of $0.328125 per share of the Fund's 5.250% Series A Perpetual Preferred Shares (NYSE:ACP PRA) ("Series A Preferred Shares"). The distribution is payable on March 31, 2022 to holders of Series A Preferred Shares of record on March 21, 2022 (ex-dividend date March 18, 2022).

The Series A Preferred Shares trade on the NYSE under the symbol "ACP PRA", are rated "A2" by Moody's Investors Service and have an annual dividend rate of $1.3125 per share. The Series A Preferred Shares were issued on May 10, 2021 at $25.00 per share and pay distributions quarterly.

Distributions may be paid from sources of income other than ordinary income, such as net realized short-term capital gains, net realized long-term capital gains and return of capital. The actual amounts and sources of the amounts for tax reporting purposes will depend upon the Fund's investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. In January 2023, 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 2022 calendar year.

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

In the United States, abrdn is the marketing name for the following affiliated, registered investment advisers: abrdn Inc., Aberdeen Asset Managers Ltd., abrdn Australia Limited, abrdn Asia Limited, Aberdeen Capital Management, LLC, abrdn 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@abrdn.com

For More Information Contact:
abrdn Inc.
Investor Relations
1-800-522-5465
Investor.Relations@abrdn.com

SOURCE: abrdn U.S. Closed-End Funds



View source version on accesswire.com:
https://www.accesswire.com/692401/Aberdeen-Income-Credit-Strategies-Fund-Declares-Quarterly-Dividend-for-Its-525-Series-a-Perpetual-Preferred-Shares

FAQ

What is the dividend amount declared by Aberdeen Income Credit Strategies Fund for ACP?

The declared dividend amount is $0.328125 per share for its Series A Preferred Shares.

When will the dividend for ACP shares be paid?

The dividend will be paid on March 31, 2022.

What is the ex-dividend date for the ACP Series A Preferred Shares?

The ex-dividend date is March 18, 2022.

How often does the ACP Series A Preferred Shares pay dividends?

Dividends are paid quarterly for the Series A Preferred Shares.

What rating did Moody's give to the Series A Preferred Shares of ACP?

The Series A Preferred Shares are rated 'A2' by Moody's Investors Service.

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