Credit Suisse AM Inc Fund Inc. (CIK) to Issue Monthly Dividend of $0.02
Credit Suisse AM Inc Fund Inc. (NYSE:CIK) declared a monthly dividend on Friday, October 27th, Wall Street Journal reports. Investors of record on Thursday, November 9th will be given a dividend of 0.022 per share on Thursday, November 16th. This represents a $0.26 dividend on an annualized basis and a yield of 7.90%. The ex-dividend date of this dividend is Wednesday, November 8th.
Credit Suisse AM Inc Fund has decreased its dividend by an average of 9.5% annually over the last three years.
Credit Suisse AM Inc Fund (CIK) traded up 0.30% on Friday, reaching $3.34. 109,724 shares of the company’s stock were exchanged. The firm has a 50-day moving average price of $3.38 and a 200-day moving average price of $3.36. Credit Suisse AM Inc Fund has a 1-year low of $2.91 and a 1-year high of $3.50.
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In other news, major shareholder Saba Capital Management, L.P. sold 16,186 shares of the firm’s stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $3.34, for a total value of $54,061.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 585,047 shares of company stock valued at $1,971,115 in the last 90 days.
Credit Suisse AM Inc Fund Company Profile
Credit Suisse Asset Management Income Fund, Inc is a diversified, closed-end management investment fund. The Fund’s investment objective is to provide current income consistent with the preservation of capital. The Fund invests in a range of sectors, which include advertising, auto parts and equipment, brokerage, building and construction, building materials, cable and satellite television, chemicals, consumer/commercial/lease financing, electronics, energy-exploration and production, food-wholesale, forestry and paper, gas distribution, health facilities, insurance brokerage, media-diversified, media content, medical products, metals and mining, oil field equipment and services, packaging, personal and household products, pharmaceuticals, software-services, real estate investment trusts, restaurants, specialty retail, and recreation and travel.
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