on Abrdn U.S. Closed-End Funds (NASDAQ:ACP)
Abrdn Income Credit Strategies Fund Announces Reduction in Monthly Distribution
abrdn Income Credit Strategies Fund (ACP), a closed-end fund listed on NYSE, has announced a decrease in its monthly distribution from $0.10 to $0.0775 per share. This change will take effect from January 10, 2025, for shareholders on record by December 30, 2024. The annualized distribution rate will shift from 18% to 14% based on net asset value as of December 9, 2024.
The Fund plans to maintain this new distribution level for at least the next 12 months unless significant market changes occur. This adjustment aims to align with the Fund's sustainable earnings, considering the economic and market outlook provided by abrdn Investments Limited. The Board emphasizes the commitment to provide a premium level of income while ensuring flexibility in investment assets.
R. E.
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