Dividend Declaration

RNS Number : 6875X

Aberdeen Latin American Inc Fd Ltd

06 May 2021

 

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

Legal Entity Identifier (LEI): 549300DN623WEGE2MY04

6 May 2021

Second Interim Dividend

The Board is pleased to declare a second interim dividend of 0.875 pence per Ordinary share (2020: 0.875p) in respect of the year ending 31 August 2021 payable on 28 May 2021 to Ordinary shareholders on the register at close of business on 14 May 2021 (ex-dividend date 13 May 2021).

The current level of dividend has been maintained, supplemented by revenue reserves, despite the weakening of Latin American currencies against sterling predominantly due to the impact of the Covid-19 pandemic and the continuing economic effects on the Company's equity investments, many of which have scaled back their distributions to conserve cash where possible through lockdowns. This has meant that the sterling income receipts of the Company have been reduced.

It is the Directors' current intention to utilise revenue reserves to maintain the interim payments at the same level for the year ending 31 August 2021.

If the volatility experienced in the region continues and currencies remain weak, the Directors believe that it is likely that the payment of a sustainable and covered dividend may necessitate a lower dividend payment in future years. The Directors continue to review closely the robustness of the Company's investments and its balance sheet and to monitor closely the impact of Covid-19 and associated vaccine rollouts, together with the ramifications for the region, valuations and recurring earnings, while balancing the income requirements of its shareholders, and will continue to keep its distribution policy under close review.

Aberdeen Standard Capital International Limited

Manager and Company Secretary

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