PHILADELPHIA, Dec. 14, 2018 /PRNewswire/ -- Aberdeen Emerging Markets Equity Income Fund, Inc. (the "Fund") (NYSE American: AEF), announced today, that recognizing the higher yielding characteristics of the portfolio of the Fund, the Board has approved a policy to pay distributions quarterly, comprised of net investment income generated by dividends paid from the Fund's underlying securities. Based on estimated dividend income over the period, net of taxes and expenses, the Fund will pay a quarterly distribution at an annualized rate of 2.0% for the next 12-months ending December 31, 2019. This policy will be subject to ongoing review by the Board.
In connection with the above policy, the first quarterly distribution in the amount of US 4 cents per share will be paid on January 10, 2019 to shareholders of record at the close of business on December 31, 2018.
In January 2019, a Form 1099-DIV will be sent to shareholders, which will state the amount and composition of distributions declared in 2018 and provide information with respect to their appropriate tax treatment for the 2018 calendar year.
TARGETED DISCOUNT POLICY - - CONTINGENT TENDER OFFER COMMITMENT
This distribution policy is in addition to requirements previously announced relating to a targeted discount policy as detailed in the Fund's registration statement. The policy requires the Fund: (1) to buy back shares in the open market when the Fund's shares trade at a discount of 10% or more to NAV and (2) to undertake a 15% tender offer if the average discount exceeds 11% of NAV over any rolling twelve-month period commencing on April 27, 2018 and ending on December 31, 2019, provided that the Fund is not required to conduct more than one tender offer during such period.
You should not draw any conclusions about the Fund's investment performance from the amount of this distribution.
Aberdeen Standard Investments is a brand of the investment businesses of Aberdeen Asset Management and Standard Life Investments. In the United States, Aberdeen Standard Investments is the marketing name for the following affiliated, registered investment advisers: Aberdeen Standard Investments ETFs Advisors LLC, Aberdeen Asset Management Inc., Aberdeen Asset Managers Ltd., Aberdeen Standard Investments Australia Ltd., Aberdeen Standard Investments (Asia) Ltd., Aberdeen Asset Capital Management, LLC, Standard Life Investments (Corporate Funds) Ltd., and Standard Life Investments (USA) Ltd.
Closed-end funds are traded on the secondary market through one of the stock exchanges. The Fund's investment return and principal value will fluctuate so that an investor's shares may be worth more or less than the original cost. Shares of closed-end funds may trade above (a premium) or below (a discount) the net asset value (NAV) of the fund's portfolio. There is no assurance that the Fund will achieve its investment objective. Past performance does not guarantee future results.
If you wish to receive this information electronically, please contact: Investor.Relations@aberdeenstandard.com
SOURCE Aberdeen Emerging Markets Equity Income Fund, Inc.