abrdn Global Income Fund, Inc. Announces Distribution Payment Details
Rhea-AI Summary
abrdn Global Income Fund, Inc. (NYSE American:FCO) has announced a distribution payment of $0.07 per share, payable on September 30, 2024, to shareholders of record as of September 23, 2024. The ex-dividend date is also September 23, 2024. The Fund's shares are currently trading at a premium to net asset value, which the Board of Directors believes may not be sustainable. Shareholders participating in the dividend reinvestment plan should note that reinvestment occurs at a premium to net asset value at the current market price. The Fund's distribution policy is subject to modification by the Board of Directors, and past performance does not guarantee future results.
Positive
- Distribution payment of $0.07 per share announced
- Shares trading at a premium to net asset value
Negative
- Board believes current premium to net asset value may not be sustainable
- Dividend reinvestment occurs at a premium to net asset value
News Market Reaction 1 Alert
On the day this news was published, FCO gained 0.34%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
PHILADELPHIA, PA / ACCESSWIRE / September 11, 2024 / abrdn Global Income Fund, Inc (NYSE American:FCO) (the "Fund"), a closed-end fund, today announced it will pay on September 30, 2024, a distribution of US
At the end of each calendar year, a Form 1099-DIV will be sent to shareholders, which will state the amount and composition of the Fund's distributions and provide information with respect to their appropriate tax treatment for the prior calendar year.
The Fund's distribution policy is subject to modification by the Fund's Board of Directors at any time, and there can be no guarantee that the policy will continue. You should not draw any conclusions about any of these Funds' investment performance from the amount of the distributions.
The Fund's shares are currently trading at a premium to net asset value. The Board of Directors believes that the premium at which the Fund shares trade relative to net asset value is not likely to be sustainable. Shareholders participating in the Fund's dividend reinvestment plan should note that at the current market price, the reinvestment of distributions occurs at a premium to net asset value.
Circular 230 disclosure: To ensure compliance with requirements imposed by the U.S. Treasury, we inform you that any U.S. tax advice contained in this communication (including any attachments) is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any transaction or matter addressed herein.
In the United States, abrdn is the marketing name for the following affiliated, registered investment advisers: abrdn Inc., abrdn Investments Limited, and abrdn Asia Limited.
Closed-end funds are traded on the secondary market through one of the stock exchanges. A 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 a Fund will achieve its investment objective. Past performance does not guarantee future results.
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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 Global Income Fund, Inc.
View the original press release on accesswire.com
FAQ
When will abrdn Global Income Fund (FCO) pay its next distribution?
What is the record date for FCO's September 2024 distribution?
Is FCO currently trading at a premium or discount to its net asset value?
What does the Board of Directors say about FCO's current premium trading?
