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Aberdeen Asia-Pacific Income Fund declares $0.0275 dividend

This was corrected on 06/12/2022 at 12:07 AM. The original post erroneously stated incorrect dividend amount

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Comments (14)

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ChristopherSmith profile picture
FAX remains a solid hold in my portfolio.......
SA Editor Mohit Manghnani profile picture
Thanks for pointing out. We have corrected the dividend amount.
I have no position in FAX, but it is on my watch list . I'm surprised its price is holding up this well .I expected it to fall well below $3.82, which shows as its current 12 month low .
BeaBaggage profile picture
I put FAX back on my watch list, levered yield still around 8%, NAV holding up well at 4.80.. more realistic dist finally instead of paying out a ROC. Bea
hpestes profile picture
SA - please correct this notice.

The announced dividend is reduced from $0.035 to $0.0275, a 21.43% cut.
FEO is likely next here with EmergMkts... but, does not have the AU NZ exposure.

This SA post is just horrible. They need to look at their automated process they use or something. Just flat out wrong.
Yes - this post above is incorrect.

FAX cuts divy from 0.035 to 0.275 as of April 30.

PHILADELPHIA, April 9, 2019 /PRNewswire/ -- Aberdeen Asia-Pacific Income Fund, Inc. (NYSE American: FAX) (the "Fund"), a closed-end fund, today announced that it has reduced its monthly distribution from $0.035 per share to $0.0275 per share, commencing with the distribution payable on April 30, 2019 to all shareholders of record as of April 22, 2019 (ex-dividend date April 18, 2019). This represents a change in the annualized distribution rate from 8.7% to 6.8% based on NAV as of March 31, 2019.

What's stunning to me is FAX has been consistent at 0.035 for 17 YEARS!!! and did not blink during the financial crisis. So - their Australia, NZ, China, India, Indonesia positions must really be stressing... I think it's AU and NZ.
I have to agree with you on your inferences.
@UncleMilton Just look at the currencies of the area. Australia, New Zealand, Indonesia, Malaysia. All of theses currencies have been in steady downtrends over the last five years. I'm surprised that FAX has managed to put it off this long. In spite of this, I think that Aberdeen is a very good asset manager, I've held this fund for a very long time, and will continue to hold it.
I've seen others suggest that even with the lower 8% divy, it's still a solid fund for Asia/Pacific holdings. Do you hold others?
False news lol
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