Aberdeen Australia Equity Fund, Inc. News
REVISED: Aberdeen Australia Equity Fund, Inc. Announces Record Date and Payment Date for Quarterly Distribution
NEW YORK, March 17 PRNewswire-FirstCall — REVISED Aberdeen Australia Equity Fund, Inc. (Amex: IAF) ("the "Fund"), a closed-end equity fund, announced today that it will pay a quarterly distribution of US 41 cents per share on April 11, 2008 to all shareholders of record as of March 31, 2008 (ex-dividend date March 27, 2008). A release issued earlier today incorrectly identified the distribution as US 40 cents per share instead of the correct amount of US 41 cents per share.
The Fund has a managed distribution policy of paying quarterly distributions at an annual rate, set once a year, that is a percentage of the rolling average of the Fund's prior four quarter-end net asset values. In March 2008, the Board of Directors determined that the rolling distribution rate would be 10% for the 12 months commencing with the distribution payable in April 2008. This policy will be subject to regular review by the Fund's Board of Directors. The distributions will be made from current income, supplemented by realized capital gains and, to the extent necessary, paid-in capital.
For the 12 months to February 29, 2008, the Fund has paid total distributions amounting to US $1.65 per share. The composition of distributions paid by the Fund since the beginning of the Fund's fiscal year, November 1, 2007, will be estimated through the payment date, and announced at the time of payment of the distribution.
The Fund is managed by Aberdeen Asset Management Asia Limited and advised by Aberdeen Asset Management Limited. The Fund's shares trade on the American Stock Exchange under the symbol "IAF".
If you wish to receive this information electronically, please contact InvestorRelations@aberdeen-asset.com
www.aberdeeniaf.com
Aberdeen Asset Management Asia Limited and Aberdeen Asset Management Limited are registered investment advisers under the Investment Advisers Act of 1940.
SOURCE Aberdeen Australia Equity Fund, Inc.
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