abrdn Income Credit Strategies Fund 5.25% Series A Perpetual Preferred Shares Declare Quarterly Dividend

Rhea-AI Summary

abrdn Income Credit Strategies Fund has announced a quarterly cash distribution of $0.328125 per share for its 5.250% Series A Perpetual Preferred Shares (NYSE:ACP PRA). The distribution will be paid on March 31, 2025, to shareholders of record as of March 21, 2025.

The Series A Preferred Shares, rated 'A2' by Moody's Investors Service, were initially issued on May 10, 2021, at $25.00 per share and provide an annual dividend rate of $1.3125 per share, paid quarterly. The shares trade on the NYSE under the symbol 'ACP PRA'.

The Fund notes that distributions may come from various sources, including net realized short-term and long-term capital gains and return of capital. Final tax treatment details will be provided to shareholders via Form 1099-DIV in January 2026.

Positive

• Consistent quarterly dividend payment maintained at $0.328125 per share
• Strong 'A2' Moody's rating indicates high credit quality
• Annual dividend yield of $1.3125 per share provides steady income stream

Negative

• Distributions may include return of capital, which could affect long-term fund value
• Fund performance may fluctuate, affecting shares' market value versus NAV

PHILADELPHIA, PA / ACCESS Newswire / March 11, 2025 / The Board of Trustees of abrdn Income Credit Strategies Fund (the "Fund"), has declared a cash distribution of $0.328125 per share of the Fund's 5.250% Series A Perpetual Preferred Shares (NYSE:ACP PRA) ("Series A Preferred Shares"). The distribution is payable on March 31, 2025, to holders of Series A Preferred Shares of record on March 21, 2025 (ex-dividend date March 21, 2025).

The Series A Preferred Shares trade on the NYSE under the symbol "ACP PRA", are rated "A2" by Moody's Investors Service and have an annual dividend rate of $1.3125 per share. The Series A Preferred Shares were issued on May 10, 2021, at $25.00 per share and pay distributions quarterly.

Distributions may be paid from sources of income other than ordinary income, such as net realized short-term capital gains, net realized long-term capital gains and return of capital. The actual amounts and sources of the amounts for tax reporting purposes will depend upon the Fund's investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. In January 2026, a Form 1099-DIV will be sent to shareholders, which will state the amount and composition of distributions and provide information with respect to their appropriate tax treatment for the 2025 calendar year.

You should not draw any conclusions about the Fund's investment performance from the amount of this distribution.

In the United States, abrdn is the marketing name for the following affiliated, registered investment advisers: abrdn Inc., abrdn Investments Limited, and abrdn Asia Limited.

Closed-end funds are traded on the secondary market through one of the stock exchanges. A 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 a Fund will achieve its investment objective. Past performance does not guarantee future results.

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For More Information Contact:

abrdn Inc.
Investor Relations
1-800-522-5465
Investor.Relations@abrdn.com

SOURCE: abrdn Income Credit Strategies Fund 5.25% Series A Perpetual Preferred Shares

View the original press release on ACCESS Newswire

FAQ

What is the quarterly dividend amount for ACP PRA preferred shares in March 2025?

The quarterly dividend amount is $0.328125 per share, payable on March 31, 2025.

When was ACP PRA Series A Preferred Shares initially issued and at what price?

The Series A Preferred Shares were issued on May 10, 2021, at $25.00 per share.

What is the annual dividend rate for ACP Series A Preferred Shares?

The annual dividend rate is $1.3125 per share, paid quarterly.

What is the Moody's rating for ACP Series A Preferred Shares?

The Series A Preferred Shares are rated 'A2' by Moody's Investors Service.

What is the ex-dividend date for ACP PRA's March 2025 distribution?

The ex-dividend date is March 21, 2025.