abrdn Asian Income Fund Limited (the "Company")
Legal Entity Identifier (LEI): 549300U76MLZF5F8MN87
15 January 2024
Declaration of Fourth Interim Dividend
The Directors of the Company have today declared an increased fourth interim dividend in respect of the year ending 31 December 2023 of 4.25p per Ordinary share of No Par Value (fourth interim for 2022: 3.10p). The dividend will be payable on 23 February 2024 to Ordinary shareholders on the register on 26 January 2024, ex-dividend date 25 January 2024.
The total dividend for 2023 amounts to 11.75p, representing an increase of 17.5% compared to the previous year (2022: 10.00p), and the Board is pleased to note that this represents the fifteenth consecutive year of annual dividend increases and means that the Company continues to be a "next generation dividend hero" as recognised by the Association of Investment Companies. The dividend for the year equates to a dividend yield of 5.8% based on the closing share price of 201p on 12 January 2024 and is expected to be fully covered by earnings for the year ended 31 December 2023.
In the absence of unforeseen circumstances, it is the Board's intention to continue to increase the level of dividend in future years.
Ian Cadby, Chairman stated:
"In line with what I said in my statement as at 31 December 2022, our investment manager has continued its focus through 2023 on high-yielding companies throughout the Asia region with strong fundamentals and as a result we have seen growth in dividend receipts flowing into the portfolio. The Board is very aware of the importance of dividends to shareholders, as well as providing an above-average yield and ensuring that those dividends grow over time. We are therefore pleased to be announcing an above-inflationary increase in dividend with an above-average yield today"
The Company operates a Dividend Reinvestment Plan ("DRIP") which is managed by the registrar, Link Group, and the deadline for elections under the DRIP will be 2 February 2024.
abrdn Investments Limited
Administrator
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