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10 Dec 2020 12:48
Aberdeen Latin American Income Fund Limited (the "Company")
Legal Entity Identifier (LEI): 549300DN623WEGE2MY04
10 December 2020
First 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 first interim dividend of 0.875p per Ordinary share (2020: 0.875p) in respect of the year ending 31 August 2021 payable on 29 January 2021 to Ordinary shareholders on the register at close of business on 8 January 2021 (ex-dividend date 7 January 2021).
The Board remains aware of the importance of income to the Company's shareholders and has maintained this payment.
The Board has discussed the ongoing impact to earnings resulting from the Covid-19 pandemic. Latin American governments continue to try to manage the effect of Covid-19 on their economies and our investee companies continue to manage volatile trading conditions. However 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 that 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 continue to 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 and a potential vaccine, 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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