Welcome to our dedicated page for abrdn Income Credit Strategies Fund news (Ticker: ACP), a resource for investors and traders seeking the latest updates and insights on abrdn Income Credit Strategies Fund stock.
abrdn Income Credit Strategies Fund (NYSE: ACP) is a diversified, closed-end management investment company that focuses on generating a high level of current income, with capital appreciation as a secondary objective. The news flow around ACP centers on its portfolio and capital structure decisions, its use of leverage, and actions taken by its board of trustees.
Investors following ACP news will see regular announcements about distributions on the fund’s 5.25% Series A Perpetual Preferred Shares, which trade under the symbol ACP PRA and are rated A2 by Moody’s Investors Service. These releases detail quarterly cash distributions, record dates, ex-dividend dates, and payment dates, as well as information about how distributions may be sourced from ordinary income, realized capital gains, or return of capital.
News items also cover the fund’s capital-raising and leverage activities. For example, ACP has reported an at-the-market equity offering program for its common shares, made under a distribution agreement and related prospectus supplement, and has announced a private offering of Series A Mandatorily Redeemable Preferred Shares. Such updates describe how proceeds may be used for refinancing existing debt and making new portfolio investments, and they outline key terms of the fund’s leverage, including credit facilities and preferred share structures.
Regulatory and strategic updates appear in press releases and related SEC filings. These include changes to the fund’s non-fundamental investment strategy regarding investments in defaulted credit obligations, as approved by the board and disclosed in a Form 8-K. Together, these news items provide insight into how the fund’s advisers manage income generation, risk, and capital structure within the closed-end fund framework.
For investors and analysts, ACP news offers ongoing information about distributions, preferred share activity, leverage, and strategy adjustments. Monitoring this stream of announcements can help users understand how the fund is implementing its stated objectives and responding to market and portfolio conditions over time.
Aberdeen Income Credit Strategies Fund has declared a cash distribution of $0.328125 per share for its 5.250% Series A Perpetual Preferred Shares (NYSE:ACP PRA), payable on March 31, 2022. Shareholders on record by March 21, 2022, will receive this distribution, with an ex-dividend date of March 18, 2022. The Series A Preferred Shares, rated A2 by Moody's, pay an annual dividend of $1.3125 and were issued at $25.00 per share. Distributions may include income sources beyond ordinary income, and tax treatment details will be provided in a Form 1099-DIV in January 2023.
Aberdeen Income Credit Strategies Fund has declared a cash distribution of $0.328125 per share for its 5.250% Series A Perpetual Preferred Shares (NYSE: ACP PRA). This distribution will be paid on December 31, 2021 to shareholders on record as of December 20, 2021, with an ex-dividend date of December 17, 2021. The Series A Preferred Shares, rated A2 by Moody's, were issued at $25.00 and have an annual dividend rate of $1.3125. Distributions may derive from sources other than ordinary income.
Aberdeen Income Credit Strategies Fund has announced a cash distribution of $0.328125 per share for its 5.250% Series A Perpetual Preferred Shares (NYSE: ACP PRA). This distribution is payable on September 30, 2021, to shareholders on record as of September 20, 2021, with an ex-dividend date of September 17, 2021. The Series A Preferred Shares, rated A2 by Moody's, were issued at $25.00 per share and provide an annual dividend of $1.3125. Notably, distributions may be sourced from various income types and will be detailed in tax documents sent to shareholders in January 2022.
Aberdeen Income Credit Strategies Fund (NYSE:ACP) has successfully completed its transferable rights offering, which commenced on May 20, 2021, and closed on June 16, 2021. The offering allowed rights holders to subscribe for up to 5,812,247 common shares at a final price of $10.20 per share, generating gross proceeds of $60 million. Due to high demand, the offering was over-subscribed, and shares were allocated pro rata to those who over-subscribed. All shares offered were issued today, reflecting strong investor interest in the fund.
Aberdeen Income Credit Strategies Fund (NYSE: ACP) has completed its transferable rights offering, which commenced on May 20, 2021 and ended on June 16, 2021. The offering allowed rights holders to subscribe for up to 5,812,247 common shares at a final price of $10.20 per share, resulting in expected gross proceeds of approximately $60 million. The offering was over-subscribed, with about 64% of shares subscribed in the primary offering. Shares will be issued around June 23, 2021.
Aberdeen Income Credit Strategies Fund (NYSE: ACP) announced a $0.10 per share distribution to shareholders on June 30, 2021, with a record date of June 4, 2021 (ex-dividend on June 3, 2021). This marks a decrease from the previous monthly distribution of $0.12 per share, as noted on September 10, 2020. A Form 1099-DIV will be issued in January 2022 detailing the distributions' tax implications. The Fund's shares fluctuate in value on the NYSE. Past distribution amounts are not indicative of future performance.
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.
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