on Abrdn U.S. Closed-End Funds (NASDAQ:AWP)
Abrdn U.S. Closed-End Funds Announce Major Distribution Rate Increase
PHILADELPHIA, PA / ACCESSWIRE / August 8, 2024 / The abrdn Global Dynamic Dividend Fund (NYSE:AGD) and abrdn Total Dynamic Dividend Fund (NYSE:AOD) announced a new managed distribution policy approved by their Boards. This policy will pay 12% of the average daily NAV for the previous month as of the month-end prior to declaration. Distributions will be payable on August 30, 2024, to all shareholders of record as of August 23, 2024.
Shareholders of AGD and AOD will see significant increases in their monthly distribution rates. AGD’s distribution will rise by approximately 70%, while AOD's will increase by around 74%.
The new policy aims to provide a steady and sustainable cash distribution to shareholders, potentially reducing the current discount to NAV. The funds will distribute income, capital gains, and, if necessary, return of capital. Shareholders will receive a Form 1099-DIV at the end of each year, detailing the distribution amounts and their tax implications.
R. H.
Copyright © 2024 FinanzWire, all reproduction and representation rights reserved.
Disclaimer: although drawn from the best sources, the information and analyzes disseminated by FinanzWire are provided for informational purposes only and in no way constitute an incentive to take a position on the financial markets.
Click here to consult the press release on which this article is based
See all Abrdn U.S. Closed-End Funds news