PHILADELPHIA, May 1, 2020 /PRNewswire/ -- Aberdeen
Standard Investments Inc. U.S. Closed-End Funds (each, a "Fund"
and, together, the "Funds") are announcing that they have all now
transitioned to a common Dividend Reinvestment Plan and Optional
Cash Purchase Plan ("New DRIP Plan"). Aberdeen Asia-Pacific Income
Fund, Inc. (FAX), Aberdeen Australia Equity Fund, Inc. (IAF),
Aberdeen Emerging Markets Equity Income Fund, Inc. (AEF) and
Aberdeen Global Income Fund, Inc. (FCO) are announcing the
termination of their respective Dividend Reinvestment and Direct
Stock Purchase Plans (each, a "DSPP") and the adoption of the New
DRIP Plan effective April 30,
2020
Aberdeen Income Credit Strategies Fund (ACP), Aberdeen Global
Dynamic Dividend Fund (AGD), Aberdeen Global Premier Properties
Fund (AWP), Aberdeen Japan Equity Fund, Inc. (JEQ), Aberdeen Total
Dynamic Dividend Fund (AOD) and The India Fund, Inc. (IFN) are
announcing adoption of the New DRIP Plan, which contains updated
terms and conditions to their respective former Dividend
Reinvestment and Optional Cash Purchase Plans effective
February 28, 2020 for JEQ, AGD, AOD
and AWP and effective April 30, 2020
for ACP and IFN.
Please see below for key terms of the New DRIP
Plan.
- Optional Cash Purchases can be made on a monthly basis with an
aggregate annual maximum amount of $250,000.
- A 3-5 business day period for the purchase of the shares on the
open market.
- Recurring deductions and online bank debits can be scheduled
for Optional Cash Purchases.
- When a Fund is trading at a discount, shares are purchased on
the open market.
- When a fund is trading at a premium, shares are issued at the
higher of net asset value ("NAV") or 95% of the current market
price.
Please refer to each fund's most recent annual report to
shareholders for further detail on the terms of the New DRIP
Plan.
Important Information
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 Funds' investment returns and principal
values 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 Funds will achieve their
investment objectives.
If you wish to receive this information
electronically, please contact:
Investor.Relations@aberdeenstandard.com
View original content to download
multimedia:http://www.prnewswire.com/news-releases/aberdeen-standard-investments-inc-us-closed-end-funds-announce-new-dividend-reinvestment-plan-terms-and-conditions-301051094.html
SOURCE Aberdeen Standard Investments Inc.