abrdn Income Credit Strategies Fund Stock Price, News & Analysis

The Board of Trustees of Aberdeen Income Credit Strategies Fund (NYSE: ACP) has approved a transferable rights offering for common shareholders as of May 20, 2021. Shareholders will receive one right for each share held, allowing them to purchase one new share for every three rights at a subscription price determined by a formula based on market value. The offering aims to increase the fund's assets for investment and will take place from May 20, 2021, to June 16, 2021. Additionally, the fund plans to distribute $0.10 per share on May 27, 2021.

Aberdeen Income Credit Strategies Fund (NYSE: ACP) successfully completed its offering of 1,600,000 shares of 5.25% Series A Perpetual Preferred Shares at $25 per share, generating approximately $38.2 million in net proceeds. The Fund intends to utilize these proceeds for its investment objectives and to manage outstanding borrowings. The Preferred Shares are expected to be listed on the NYSE under the symbol ACP PRA within 30 days. Investors should consider the Fund's risks and investment objectives before proceeding.

On May 3, 2021, Aberdeen Income Credit Strategies Fund (NYSE: ACP) announced the pricing of an underwritten public offering of 1,600,000 shares of 5.25% Series A Perpetual Preferred Shares at $25 per share, aiming for net proceeds of approximately $38.2 million after underwriting fees. The Fund plans to utilize the proceeds for investing in line with its objectives, working capital, and reducing debt. The Preferred Shares are expected to be listed on NYSE under the symbol 'ACP.P' within 30 days after issuance, with the offering closing on or around May 10, 2021.

Aberdeen Income Credit Strategies Fund (ACP) announced plans for an underwritten public offering of its Series A Perpetual Preferred Shares. The Fund aims to list these shares on the NYSE under the symbol ACP.P. The proceeds from the offering will be utilized to align with the Fund's investment objectives and may include paying off outstanding borrowings. UBS Securities LLC will manage the offering. The completion is subject to market conditions, with trading anticipated within 30 days post-issuance.

Aberdeen Income Credit Strategies Fund (NYSE: ACP) announced a monthly distribution of $0.10 per share, payable on April 30, 2021, to shareholders of record as of April 23, 2021. This marks a decrease from the previous distribution of $0.12 per share, which was announced on September 10, 2020. Shareholders will receive a Form 1099-DIV in January 2022 detailing the distribution's tax treatment. The Fund's shares may trade at a premium or discount to their net asset value and investors should not assume investment performance based solely on this distribution.

Aberdeen Income Credit Strategies Fund (NYSE: ACP) announced a monthly distribution of $0.10 per share, payable on March 31, 2021, to shareholders on record as of March 24, 2021. This marks a decrease from the previous $0.12 per share distribution announced on September 10, 2020. A Form 1099-DIV will be sent to shareholders in January 2022, detailing distribution amounts and their tax implications for the 2021 calendar year. The Fund is managed by Aberdeen Asset Managers Limited, and its investment returns may fluctuate, affecting share value.

Aberdeen Income Credit Strategies Fund (NYSE: ACP) announced a monthly distribution of $0.10 per share, payable on February 26, 2021, to shareholders of record as of February 19, 2021. This is a reduction from the previous distribution of $0.12 per share announced on September 10, 2020. The Fund's shares are traded on the NYSE, and the investment return may fluctuate, potentially affecting the value of shares. A Form 1099-DIV will be sent in January 2022 for tax purposes concerning 2021 distributions.

Aberdeen Income Credit Strategies Fund (NYSE: ACP) announced a distribution of $0.10 per share, scheduled for January 29, 2021, for shareholders on record as of January 22, 2021. This marks a reduction from the previous monthly distribution of $0.12 per share, announced on September 10, 2020. Shareholders will receive a Form 1099-DIV in January 2022 detailing distribution amounts and tax information for the 2021 calendar year. The Fund is managed by Aberdeen Asset Managers Limited, and its shares trade on the NYSE under the symbol 'ACP'.

The Aberdeen Income Credit Strategies Fund (NYSE: ACP) announced a monthly distribution of $0.10 per share, payable on January 8, 2021, to shareholders of record as of December 31, 2020. This marks a reduction from the previous distribution of $0.12 per share, effective since September 10, 2020. A Form 1099-DIV will be provided to shareholders in January 2021 detailing the amount and tax treatment of the distributions for the 2020 calendar year. The Fund is managed by Aberdeen Asset Managers Limited and shares may trade above or below net asset value.