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Article: First Australia Fund Announces Quarterly Distribution.
- Article from:
- PR Newswire
- Article date:
- December 16, 1999
CopyrightCOPYRIGHT 1999 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW YORK, Dec. 15 /PRNewswire/ -- The First Australia Fund, Inc., a closed-end equity fund (Amex: IAF; Pacific), today announced that it will pay a quarterly distribution of US 21 cents per share. The distribution will be paid on January 14, 2000 to all shareholders of record at December 31, 1999 (ex-dividend date December 29, 1999).
Including the current quarterly distribution, the Fund has paid a total of US 81.5 cents per share over the last 12 months. At the current market price of $7.875 per share this represents an annual cash distribution rate of 10.3%.
The Board has determined to maintain the Fund's distribution rate at 9% for the current ...