Welcome to our dedicated page for Korea Fund news (Ticker: KF), a resource for investors and traders seeking the latest updates and insights on Korea Fund stock.
The Korea Fund, Inc. (NYSE: KF) is a non-diversified, closed-end investment company that seeks long-term capital appreciation by investing primarily in equity securities trading on the Korean stock exchanges. This news page focuses on official announcements and corporate actions that affect KF stock and the Fund’s structure, policies and distributions.
Investors following The Korea Fund’s news can expect regular updates on dividend and distribution declarations, including net investment income dividends, capital gain distributions and spillback income distributions made under Section 855 of the Internal Revenue Code. These releases often explain how distributions are composed and note that the final tax characterization is determined after the end of the Fund’s fiscal year.
The Fund also issues detailed news about its Discount Management Program and tender offers. Articles describe how the Fund may repurchase up to a set percentage of its outstanding common shares when they trade at a discount to NAV, the appointment of program managers to execute repurchases under Rule 10b-18, and the terms and results of issuer tender offers tied to performance relative to the MSCI Korea 25/50 Index. These updates explain pro-rata purchase mechanics when offers are oversubscribed and the temporary suspension of share repurchase programs during tender offer periods.
Additional news covers changes to discount management procedures, updates on the Tender Offer Policy, and Board decisions regarding capital management. Each release reiterates the Fund’s focus on Korean equities, its listing on the NYSE under symbol KF, the role of JPMorgan Asset Management (Asia Pacific) Ltd as investment adviser, and the risks associated with closed-end and international investing. For investors and analysts tracking KF, this page provides a centralized feed of the Fund’s official communications on distributions, buybacks, tender offers and governance-related developments.
The Korea Fund, Inc. (NYSE:KF) declared a cash dividend of $1.381724 per share, comprised of $0.437507 net investment income and $0.944217 spillback income under Section 855. The distribution is payable on January 12, 2026 to shareholders of record on December 23, 2025 (ex-dividend date).
The Fund temporarily suspended its share repurchase program from December 12, 2025 until the dividend payment date. Tax characterization may change at fiscal-year end; Form 1099-DIV will be issued in January 2026.
The Korea Fund (NYSE: KF) has appointed Stifel, Nicolaus & Company as the new agent for its Discount Management Program, effective December 16, 2024. The program allows the Fund to repurchase up to 10% of its common shares annually when trading above specified discount thresholds. Share repurchases will be made on national securities exchanges at prevailing market prices, aiming to enhance shareholder value by purchasing shares trading at a discount to NAV.
The program operates under Rule 10b-18 safe harbor conditions and includes flexibility for the Board to modify procedures without prior notice. While the program aims to reduce trading discounts and increase NAV accretion, success is not guaranteed and purchases may be by market conditions or regulatory requirements.
The Korea Fund (NYSE:KF) has announced a dividend distribution of $0.454161 per share for 2024, payable on January 6, 2025, to shareholders of record on December 23, 2024. The distribution represents the Fund's 2024 spillback distribution under Section 855 of the Internal Revenue Code. The Fund has temporarily suspended its share repurchase program until the dividend payment date.
The final tax characterization of the distribution cannot be determined until the end of the fiscal year, with the possibility of a return of capital if total distributions exceed net investment income and realized capital gains. Detailed tax information will be provided to stockholders via Form 1099-DIV in January 2025.
The Korea Fund (NYSE:KF) has announced a cash dividend distribution of $0.454161 per share for 2024. The distribution will be payable on January 6, 2025 to shareholders of record on December 27, 2024, which is also the ex-dividend date. This represents the Fund's 2024 spillback distribution under Section 855 of the Internal Revenue Code.
The Fund has temporarily suspended its share repurchase program until the dividend payment date. While the total distribution amount remains fixed, its tax characterization may change based on factors including investment performance and nature. The final characterization will be determined at the fiscal year's end, with detailed information available through Form 1099-DIV in January 2025.
The Korea Fund, Inc. (NYSE: KF) has announced the final results of its tender offer. The Fund conducted a tender offer to purchase up to 12.5% of its issued and outstanding common stock at 98.5% of its net asset value (NAV) per share. The offer, which expired on September 16, 2024, was oversubscribed.
Key results:
- Number of shares tendered: 3,196,339
- Number of tendered shares to be purchased: 604,144
- Pro-ration factor: 18.901%
- Purchase price: $26.42 per share
- Number of outstanding shares after tender offer: 4,229,009
The Fund will purchase the accepted shares promptly. Stockholders can obtain further information from EQ Fund Solutions, the Fund's Information Agent, at (877) 361-7964.
The Korea Fund, Inc. (NYSE: KF) has announced preliminary results of its tender offer. The Fund offered to purchase up to 12.5% of its issued and outstanding common stock at 98.5% of its net asset value (NAV) per share. Based on preliminary data:
- 3,226,691 common shares (66.76% of outstanding) were tendered
- The Fund accepted 604,144 shares for purchase
- Purchase price: $26.42 per share (98.5% of $26.82 NAV on September 16, 2024)
Due to oversubscription, shares will be purchased on a pro-rata basis. Final results are expected to be announced on September 19, 2024. The Korea Fund seeks long-term capital appreciation through investments in Korean stock exchanges.
The Korea Fund, Inc. (NYSE: KF) has announced the commencement of a tender offer to purchase up to 12.5% of its issued and outstanding common stock. The offer will begin on August 16, 2024, and expire on September 16, 2024, unless extended. Shareholders can sell their shares at 98.5% of the net asset value per share, determined on the expiration date.
The Fund has temporarily suspended its share repurchase program until ten business days after the tender offer expires. Stockholders are advised to read the official Offer to Purchase and related documents filed with the SEC for complete information. EQ Fund Solutions is serving as the Information Agent for the tender offer.
The Korea Fund (NYSE: KF) Board of Directors announced a tender offer for 12.5% of its outstanding shares due to underperformance against the MSCI Korea 25/50 Index from April 1, 2021, to June 30, 2024. The Fund's NAV total return was -19.62%, slightly below the Index's -19.30%. Shares will be purchased at 98.5% of NAV on the offer's expiration date. The Fund has 4,833,153 shares outstanding with net assets of $142.9 million as of July 10, 2024. The tender offer will temporarily suspend the Fund's stock repurchase program. Details will be in the offering materials to be filed with the SEC. The next performance measurement period is from July 1, 2024, to June 30, 2027.
The Korea Fund, Inc. (NYSE: KF) announced a new Tender Offer Policy, entailing a tender offer for up to 25% of its outstanding shares by September 30, 2024, if its total return performance does not meet or exceed the MSCI Korea 25/50 Index from April 1, 2021, to June 30, 2024. Provisional results for this period show the Fund's return at -19.62%, slightly underperforming the Index by 0.32%. The Fund will confirm these results within ten business days and proceed with the tender offer if confirmed. The next measurement period will be from July 1, 2024, through June 30, 2027. The Fund emphasizes risks associated with international and regional investments, potential price volatility, and trading discounts to NAV. Further details will be provided after confirmation from Morningstar, Inc.
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