Dividend Declaration

RNS Number : 1215R

Aberdeen Latin American Inc Fd Ltd

25 June 2020

 

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

Legal Entity Identifier (LEI): 549300DN623WEGE2MY04

25 June 2020

Third 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 third interim dividend of 0.875p per Ordinary share (2019: 0.875p) in respect of the year ending 31 August 2020 payable on 31 July 2020 to Ordinary shareholders on the register at close of business on 10 July 2020 (ex-dividend date 9 July 2020).

The Board remains aware of the importance of income to the Company's shareholders, particularly during times of continued market stress and has maintained this payment. Whilst there has undoubtedly been an impact to earnings from the COVID-19 pandemic as Latin American governments continue to attempt to manage the effect on their economies and our investee companies struggle to manage difficult trading conditions during continued government imposed lock downs, the Directors have previously noted 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 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 continue to place great emphasis on exercising prudence, particularly in these uncertain times and ensuring that the robustness of the Company's balance sheet is maintained. The Board continues to monitor closely the evolution and impact of COVID-19, together with its ramifications for the region, valuations and recurring earnings, while balancing the income requirements of its shareholders, and continues to keep future dividend policy under review. 

Aberdeen Standard Capital International Limited

Manager and Company Secretary

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