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Aberdeen Asia-Pacific Income Investment Company Limited Announces Monthly Distribution And Estimated Earnings

·5 min read

TORONTO, Nov. 10, 2020 /CNW/ -- Aberdeen Asia-Pacific Income Investment Company Limited (TSX: FAP) (the "Company"), a closed-end investment company trading on the Toronto Stock Exchange, announced today that it will pay a monthly distribution of CAD 2.25 cents per ordinary share on November 30, 2020 to all ordinary shareholders of record as of November 20, 2020 (ex-dividend date November 19, 2020).

Aberdeen Asset Management Inc. At Aberdeen, asset management is our business. We only manage assets for clients, allowing us to focus solely on their needs and deliver independent, objective investment advice. We know global markets from the local level upwards, drawing on more than 1,900 staff, across 32 offices in 23 countries. Investment teams are based in the markets or regions where they invest, delivering local perspective in a global investment environment. (PRNewsFoto/Aberdeen Asset Management Inc.)
Aberdeen Asset Management Inc. At Aberdeen, asset management is our business. We only manage assets for clients, allowing us to focus solely on their needs and deliver independent, objective investment advice. We know global markets from the local level upwards, drawing on more than 1,900 staff, across 32 offices in 23 countries. Investment teams are based in the markets or regions where they invest, delivering local perspective in a global investment environment. (PRNewsFoto/Aberdeen Asset Management Inc.)

The policy of the Company's Board of Directors is to maintain a stable monthly distribution out of net investment income and realized capital gains supplemented with paid-in capital as required. This policy is subject to regular review at the Board's quarterly meetings.

The following table sets forth the estimated amounts and the sources of the distributions. The figures in the table below have been computed based on international financial reporting standards. The table includes estimated amounts and percentages for the distribution to be paid on November 30, 2020 from the following sources: net investment income; net realized gains; return of capital; and return of par. The final composition of the distributions is subject to change and may be impacted by future income, expenses and realized gains and losses on securities and currencies. Although a portion of any distribution may be recorded as a return of capital, the full amount of the distribution (other than a return of par) will be foreign income for Canadian income tax purposes.


Estimated
Amounts of
Current
Monthly
Distribution per
share (C$)

Estimated
Amounts of
Current Monthly
Distribution per
share (%)

Estimated
Amounts of Fiscal
Year to Date
Cumulative
Distributions per
share (C$)

Estimated
Amounts of Fiscal
Year to Date
Cumulative
Distributions per
share (%)

Net Investment Income

$0.0191

85%

$0.0191

85%

Net Realized Gains

-

-

-

-

Return of Capital

-

-

-

-

Return of Par

$0.0034

15%

$0.0034

15%

Total (per common share)

$0.0225

100%

$0.0225

100%

Shareholders should not draw any conclusions about the Company's investment performance from the amount of the Company's current distribution.

The amounts and sources of distributions set out above are estimates only and are not being provided for tax reporting purposes. The final determination of the source of all distributions made in 2020 will be made after the year-ended 2020. The actual amounts and sources of the amounts of distributions for tax reporting purposes will depend upon the Company's results during the remainder of the calendar year and are subject to any changes to applicable tax regulations. Information for tax reporting purposes will be provided to the Company's shareholders on a Form T5 in February of 2021.

The Company previously announced that the Cook Islands Parliament recently passed legislation that removes the tax exemptions for Cook Islands international companies, like the Company, subjecting these companies to the Cook Islands company tax regime and a tax on company profit of 20%. Under grandfathering provisions, there is no immediate impact on the Company and the Company will not be subject to the new rules until January 1, 2022. The precise impact of the rule change is still being assessed and it is understood that the Cook Islands will be undertaking a thorough review of its taxation system including the taxation of company income. The Manager is monitoring developments and will evaluate options to mitigate the impact of the rule change.

Information in this press release that is not current or historical factual information may constitute forward-looking information within the meaning of securities laws. Such forward-looking information reflects the Investment Manager's beliefs, estimates and opinion regarding the Company's future financial performance, projects and opportunities and market conditions as at today's date. Implicit in this information, particularly in respect of future financial performance and condition of the Company, are factors and assumptions which, although considered reasonable by the Company at the time of preparation, may prove to be incorrect. Shareholders are cautioned that actual results are subject to a number of risks and uncertainties, including general economic and market factors, including credit, currency, political and interest-rate risks and could differ materially from what is currently expected. The Company has no specific intention of updating any forward-looking information whether as a result of new information, future events or otherwise, except as required by law.

Aberdeen Standard Investments ("ASI") is the marketing name in Canada for Aberdeen Standard Investments (Canada) Limited ("ASI Canada"), Aberdeen Standard Investments Luxembourg SA, Standard Life Investments Private Capital Ltd, SL Capital Partners LLP, Standard Life Investments Limited, Aberdeen Standard Alternative Funds Limited, and Aberdeen Capital Management LLC. ASI Canada is the administrator of the Company and is registered as an investment fund manager in Canada where required. ASI Canada is a wholly-owned subsidiary of Aberdeen Standard Investments Inc., the sub-administrator of the Company.

Closed-end funds are traded on the secondary market through one of the stock exchanges. The Company'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 Company. There is no assurance that the Company 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

aberdeenfap.com

SOURCE Aberdeen Asia-Pacific Income Investment Company Limited

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