Dividend Announcement

ACORN INCOME FUND LIMITED

 (a closed-ended investment company incorporated in Guernsey with registration number 34778)

LEI 213800UAZN7G46AHQM67

28 April 2020

Acorn Income Fund Limited

Dividend Announcement

The Directors are pleased to declare a second interim dividend for the year ending 31 December 2020 of 5.75p per Ordinary Share which represents an increase of 10.58% compared to the corresponding dividend for the year ended 31 December 2019 and maintains the level of dividend set by the increase in the first interim dividend. The impact of COVID-19 on the earnings of many UK companies is causing them to reduce or cancel dividend payments and this will impact on Acorn's earnings for 2020. Acorn is however, in the fortunate position of having revenue reserves, at 31 December 2019, equal to 1.04 times the 2019 dividend and the Directors consider the current situation is one in which it will be appropriate to draw on those revenue reserves.  It is too soon to judge how severe or prolonged the disruption to UK corporate earnings will be and the Directors will keep the level of future dividends under review. 

Ex-Dividend Date  11 June 2020

Record Date  12 June 2020

Payment Date  29 June 2020

Dividend per Share  5.75 pence per Ordinary Share (Sterling)

For information please contact:

Northern Trust International Fund Administration Services (Guernsey) Limited
Company Secretary  [phone]

Premier Miton Investments
Claire Long     + 44 (0) 1483 400463