abrdn Income Credit Strategies Fund 5.25% Series A Perpetual Preferred Shares Declare Quarterly Dividend

Rhea-AI Summary

The Board of Trustees of abrdn Income Credit Strategies Fund has declared a quarterly cash distribution of $0.328125 per share for its 5.25% Series A Perpetual Preferred Shares (NYSE: ACP PRA).

The dividend is payable on July 1, 2024, to shareholders on record as of June 21, 2024.

The annual dividend rate of these shares is $1.3125 per share, and they were initially issued on May 10, 2021, at $25 per share.

Payments may come from various income sources, including capital gains and return of capital, and tax treatment will be detailed in Form 1099-DIV sent in January 2025.

Investors should note that the Fund's value may fluctuate, and shares can trade at a premium or discount relative to NAV.

Positive

• Quarterly dividend of $0.328125 per share declared for ACP PRA.
• Annual dividend rate stands at $1.3125 per share.
• Shares are rated 'A2' by Moody's Investors Service.
• Distributions may be paid from various income sources, providing flexibility.

Negative

• Potential for share value fluctuations, possibly leading to trading at a premium or discount to NAV.
• No guarantee that the Fund will achieve its investment objectives.

PHILADELPHIA, PA / ACCESSWIRE / June 11, 2024 / The Board of Trustees of abrdn 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 July 1, 2024, to holders of Series A Preferred Shares of record on June 21, 2024 (ex-dividend date June 21, 2024).

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 2025, 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 2024 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., abrdn Investments Limited, abrdn Asia Limited, abrdn Private Equity (Europe) Limited, and abrdn ETFs Advisors LLC.

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.

Closed-End Fund Investor Center (abrdn.com)

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For More Information Contact:

abrdn U.S. Closed-End Funds
Investor Relations
1-800-522-5465
Investor.Relations@abrdn.com

SOURCE: Abrdn Income Credit Strategies Fund 5.25% Series A Perpetual Preferred Shares

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FAQ

What is the dividend rate for abrdn's 5.25% Series A Perpetual Preferred Shares (ACP PRA)?

The annual dividend rate for ACP PRA is $1.3125 per share.

When is the dividend payment date for ACP PRA?

The dividend payment date is July 1, 2024.

What is the record date for the ACP PRA dividend?

The record date for the dividend is June 21, 2024.

How often are dividends paid for ACP PRA?

Dividends for ACP PRA are paid quarterly.

What is the Moody's rating for ACP PRA?

ACP PRA is rated 'A2' by Moody's Investors Service.

What sources can the ACP PRA distributions come from?

Distributions can come from ordinary income, net realized short-term and long-term capital gains, and return of capital.

When will shareholders receive tax information for ACP PRA distributions?

Shareholders will receive Form 1099-DIV in January 2025, detailing the distribution amounts and their tax treatment.

Can the value of ACP PRA shares fluctuate?

Yes, the value of ACP PRA shares can fluctuate and may trade at a premium or discount to NAV.