30th Sep 2021 11:36
Aberdeen Latin American Income Fund Ltd - investor managed by abrdn Capital International Ltd, part of abrdn PLC - Declares 0.875 pence fourth interim dividend, unchanged from year before. However, the fund has to draw on revenue reserves to maintain the payout, and it repeats the warning that it may have cut its dividend "in future years". Says the weakness of Latin American currencies against the pound and the damage caused by the Covid-19 pandemic to its portfolio companies are reducing the distributions that it is receiving. "If the volatility experienced in the region continues and currencies remain weak, it is likely that the payment of a sustainable and covered dividend may necessitate a lower dividend payment in future years," the investment trust says.
Current stock price: 51.19 pence, down 2.5% on Thursday
Year-to-date change: down 18%
By Tom Waite; [email protected]
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