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28 Sep 2020 11:45
Aberdeen Latin American Income Fund Limited (the "Company")
Legal Entity Identifier (LEI): 549300DN623WEGE2MY04
28 September 2020
Fourth Interim Dividend
In accordance with the Company's stated aim to pay a minimum dividend of 3.5p pence per share for the year, the Board of Aberdeen Latin American Income Fund Limited (the "Company") has today declared a fourth interim dividend of 0.875p per Ordinary share (2019: 0.875p) in respect of the year ending 31 August 2020 payable on 30 October 2020 to Ordinary shareholders on the register at close of business on 9 October July 2020 (ex-dividend date 8 October 2020).
As reported during the year, the Board remains aware of the importance of income to the Company's shareholders, particularly during times of prolonged market stress and has maintained this payment. Whilst there has been, and continues to be, an impact to earnings resulting from the COVID-19 pandemic as Latin American governments continue to attempt to manage the effect on their economies and our investee companies manage volatile trading conditions, the Directors have previously noted the revenue reserve that has been built up during better times. This is one of the benefits of the investment trust structure which allows the Company to use accumulated reserves to maintain distributions to shareholders where there is a shortfall in earnings.
The Board's intention is that interim dividends will continue to be paid quarterly, subject to cash levels and reserves being sufficient to allow the Company to do so. The Directors place great emphasis on exercising prudence, particularly in these uncertain times and ensuring that the robustness of the Company's balance sheet is maintained. The Board continues to monitor closely the impact of COVID-19, together with its ramifications for the region, valuations and recurring earnings, while balancing the income requirements of its shareholders, and continues to keep future dividend policy under review.
Aberdeen Standard Capital International Limited
Manager and Company Secretary
End
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