PHILADELPHIA, March 29, 2019 /PRNewswire/ -- Aberdeen
Emerging Markets Equity Income Fund, Inc. (the "Fund") (NYSE
American: AEF) (the "Fund"), a closed-end equity
fund, today announced that it paid on March 29, 2019, a distribution of $0.04 per share to all shareholders of record as
of March 21, 2019 (ex-dividend date
March 20, 2019).
As announced on December 14, 2018,
the Board has approved a policy to pay distributions quarterly,
comprised of net investment income generated by dividends paid from
the Fund's underlying securities. Based on estimated dividend
income over the period, net of taxes and expenses, the Fund will
pay a quarterly distribution at an annualized rate of 2.0% for the
next 12-months ending December 31,
2019. This policy will be subject to ongoing review by the
Board.
Under U.S. tax rules applicable to the Fund, the amount and
character of distributable income for each fiscal year can be
finally determined only as of the end of the Fund's fiscal year.
However, under Section 19 of the Investment Company Act of 1940, as
amended (the "1940 Act") and related Rules, the Fund may be
required to indicate to shareholders the source of certain
distributions to shareholders.
The following table sets forth the estimated amounts of the
sources of the distribution for purposes of Section 19 of the 1940
Act and the Rules adopted thereunder. The table has been computed
based on generally accepted accounting principles. The table
includes estimated amounts and percentages for this distribution
and for the cumulative distributions paid relating to fiscal year
to date (01/01/2019 – 02/28/2019),
from the following sources: net investment income; net realized
short-term capital gains; net realized long-term capital gains; and
return of capital. The estimated composition of the distributions
may vary from quarter to quarter because the estimated composition
may be impacted by future income, expenses and realized gains and
losses on securities and currencies. The securities held by the
Fund pay dividends at various times throughout the year; therefore;
the level of net income may vary significantly from quarter to
quarter.
|
Estimated Amounts of
Current Distribution
per share
($)
|
Estimated Amounts of
Current Distribution
per share
(%)
|
Estimated Amounts of
Fiscal Year to Date Cumulative Distributions
per share
($)
|
Estimated Amounts of
Fiscal Year to Date Cumulative Distributions
per share
(%)
|
Net Investment
Income
|
$0.0252
|
63%
|
$0.0252
|
63%
|
Net Realized
Short-Term Capital Gains*
|
$0.0004
|
1%
|
$0.0004
|
1%
|
Net Realized
Long-Term Capital Gains
|
-
|
-
|
-
|
-
|
Return of
Capital
|
$0.0144
|
36%
|
$0.0144
|
36%
|
Total (per common
share)
|
$0.0400
|
100%
|
$0.0400
|
100%
|
*includes currency gains
The Fund estimates that it has distributed more than its income
and capital gains; therefore, a portion of your distribution may be
a return of capital. A return of capital may occur for example,
when some or all of the money that you invested in the Fund is paid
back to you. A return of capital distribution does not necessarily
reflect the Fund's investment performance and should not be
confused with "yield" or "income."
As of March 12, 2019, after giving
effect to this payment, the Fund estimates it has a net deficit of
$41,621,000. A net deficit results
when the Fund has net unrealized losses that are in excess of any
net realized gains that have not yet been distributed.
Shareholders should not draw any conclusions about the Fund's
investment performance from the amount of the Fund's current
distributions.
The amounts and sources of distributions reported in this
notice are only estimates and are not being provided for tax
reporting purposes. The final determination of the source of all
distributions in 2019 will be made after year-end. The actual
amounts and sources of the amounts for tax reporting purposes will
depend upon the Fund's investment experience during the remainder
of the fiscal year and may be subject to change based on tax
regulations. The Fund will send you a Form 1099-DIV for the
calendar year that will tell you how to report these distributions
for federal income tax purposes.
Circular 230 disclosure: To ensure compliance with
requirements imposed by the U.S. Treasury, we inform you that any
U.S. tax advice contained in this communication (including any
attachments) is not intended or written to be used, and cannot be
used, for the purpose of (i) avoiding penalties under the Internal
Revenue Code or (ii) promoting, marketing or recommending to
another party any transaction or matter addressed herein.
Aberdeen Standard Investments is a brand of the investment
businesses of Standard Life Aberdeen plc, its affiliates and
subsidiaries. In the United
States, Aberdeen Standard Investments is the marketing name
for the following affiliated, registered investment advisers:
Aberdeen Standard Investments Inc., Aberdeen Asset Managers Ltd.,
Aberdeen Standard Investments Australia Ltd., Aberdeen Standard
Investments (Asia) Ltd., Aberdeen
Capital Management, LLC, Aberdeen Standard Investments ETFs
Advisors LLC and Standard Life Investments (Corporate Funds)
Ltd.
Closed-end funds are traded on the secondary market through one
of the stock exchanges. The Fund's investment return and principal
value will fluctuate so that an investor's shares may be worth more
or less than the original cost. Shares of closed-end funds may
trade above (a premium) or below (a discount) the NAV of the fund's
portfolio. There is no assurance that the Fund will achieve its
investment objective. Past performance does not guarantee future
results.
If you wish to receive this information
electronically, please contact
InvestorRelations@aberdeenstandard.com
aberdeenaef.com
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SOURCE Aberdeen Emerging Markets Equity Income Fund, Inc.