Dividend Declaration

RNS Number : 0151M

Aberdeen Latin American Inc Fd Ltd

06 May 2020

 

Aberdeen Latin American Income Fund Limited (the "Company")

Legal Entity Identifier (LEI): 549300DN623WEGE2MY04

6 May 2020

Second Interim Dividend

In accordance with the Company's stated aim to pay a minimum dividend of 3.5p pence per share for the year, the Board of Aberdeen Latin American Income Fund Limited (the "Company") has today declared a second interim dividend of 0.875p per Ordinary share (2019: 0.875p) in respect of the year ending 31 August 2020 payable on 29 May 2020 to Ordinary shareholders on the register at close of business on 15 May 2020 (ex-dividend date 14 May 2020).

The Board is aware of the importance of income to shareholders particularly during times of such severe market stress and has maintained this payment. Whilst there will undoubtedly be an impact to earnings from the COVID-19 crisis as Latin American governments attempt to manage the effect on their economies and our investee companies struggle to manage difficult trading conditions during government imposed lock downs, the Directors note the revenue reserve that has been built up during better times. The revenue reserve provides the Company with up to one years' dividend reserve.  The Board's current intention is that interim dividends will continue to be paid quarterly, subject to cash levels being sufficient to allow the Company to do so, and that in the current financial year revenue reserves will be utilised where there is a shortfall in earnings.  Revenue reserves have been built up with just such a contingency in mind. The Directors place great emphasis on exercising prudence particularly in these uncertain times and ensuring the robustness of the Company's balance sheet is maintained. The Board will continue to monitor closely the evolution of COVID-19, together with its impact on the region, valuations and recurring earnings, while balancing the income requirements of its shareholders, and keep its future dividend policy under review. 

Aberdeen Standard Capital International Limited

Manager and Company Secretary

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