LONDON (Alliance News) - Acorn Income Fund Ltd on Tuesday declared a 5.20 pence per share interim dividend for 2019 and appointed a new non-executive director.
This is the first interim dividend for the investor in 2019 and represents a 5% increase over the dividend for the year ago period.
In addition, Nigel Sidebottom has joined Acorn Income Fund with immediate effect. He was deputy chief investment officer and head of closed ended funds at Premier Asset Management, parent company of Acorn Income Fund's investment manager.
Due to his recent role with Premier Asset Management, Sidebottom is a non-independent director. He currently has a beneficial holding of 4,366 ordinary shares and 5,205 zero dividend preference shares in Acorn Income Fund.
"I am delighted that Nigel has agreed to join the board. We believe that retaining Nigel's wealth of experience in closed-ended funds, and Acorn in particular following his retirement from Premier, will be valuable to shareholders," said Acorn Income Fund Chair Helen Green.
Shares in Acorn Income Fund were up 1.5% at 369.98p on Tuesday afternoon.