Aberdeen Australia Equity Fund, Inc. (NYSEAMERICAN:IAF) Announces $0.15 Quarterly Dividend

Aberdeen Australia Equity Fund, Inc. (NYSEAMERICAN:IAF – Get Rating) announced a quarterly dividend on Thursday, May 12th, Wall Street Journal reports. Shareholders of record on Friday, May 20th will be given a dividend of 0.15 per share on Thursday, June 30th. This represents a $0.60 dividend on an annualized basis and a yield of 11.06%. The ex-dividend date of this dividend is Thursday, May 19th.

Aberdeen Australia Equity Fund has decreased its dividend payment by an average of 0.5% annually over the last three years.

IAF stock opened at $5.43 on Friday. Aberdeen Australia Equity Fund has a twelve month low of $5.05 and a twelve month high of $6.66.

Hedge funds have recently added to or reduced their stakes in the business. UBS Group AG grew its position in shares of Aberdeen Australia Equity Fund by 623.3% during the 3rd quarter. UBS Group AG now owns 16,810 shares of the company’s stock worth $99,000 after buying an additional 14,486 shares in the last quarter. Cetera Investment Advisers grew its position in shares of Aberdeen Australia Equity Fund by 22.3% during the 1st quarter. Cetera Investment Advisers now owns 42,414 shares of the company’s stock worth $267,000 after buying an additional 7,741 shares in the last quarter. Finally, Morgan Stanley grew its position in shares of Aberdeen Australia Equity Fund by 60.2% during the 1st quarter. Morgan Stanley now owns 47,355 shares of the company’s stock worth $276,000 after buying an additional 17,804 shares in the last quarter.

Aberdeen Australia Equity Fund Company Profile (Get Rating)

Aberdeen Australia Equity Fund, Inc is a closed ended equity mutual fund launched and managed by Aberdeen Standard Investments (Asia) Limited. The fund is managed by Aberdeen Standard Investments Australia Limited. It invests in the public equity markets of Australia. The fund makes its investments in firms operating across diversified sectors.

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