Aberdeen Australia Equity Fund Inc (NYSEAMERICAN:IAF) announced a quarterly dividend on Monday, March 12th, Wall Street Journal reports. Investors of record on Monday, March 19th will be paid a dividend of 0.16 per share on Monday, March 26th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 9.79%. The ex-dividend date is Friday, March 16th.
Shares of Aberdeen Australia Equity Fund (IAF) traded up $0.02 during mid-day trading on Monday, hitting $6.54. The company had a trading volume of 27,931 shares, compared to its average volume of 59,434. Aberdeen Australia Equity Fund has a 52-week low of $5.71 and a 52-week high of $6.77.
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Aberdeen Australia Equity Fund, Inc is a non-diversified, closed-end management investment company. The Fund’s principal investment objective is long-term capital appreciation through investment primarily in equity securities of Australian companies listed on the Australian Stock Exchange Limited. Its secondary objective is current income, which is expected to be derived primarily from dividends and interest on Australian corporate and governmental securities.
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