Welcome to our dedicated page for Mexico Fund news (Ticker: MXF), a resource for investors and traders seeking the latest updates and insights on Mexico Fund stock.
The Mexico Fund, Inc. reports developments for a non-diversified closed-end management investment company focused on long-term capital appreciation through investments in securities, primarily equities, listed on the Mexican Stock Exchange. Its shares trade on the NYSE under the symbol MXF.
Recurring news centers on cash distributions under the Fund's Managed Distribution Plan, required source estimates for net investment income, capital gains and return of capital, annual report releases, NAV and market-price performance, benchmark comparisons to the MSCI Mexico Index, and stockholder meeting results for board elections.
The Mexico Fund (NYSE: MXF) announced a distribution of $0.22 per share to stockholders of record as of July 17, 2024, payable on July 25, 2024. The distribution breakdown is as follows:
- 56.82% from Net Investment Income
- 7.64% from Net Realized Short-Term Capital Gains
- 15.54% from Net Realized Long-Term Capital Gains
- 20.00% from Return of Capital
The Fund's performance metrics include an Average Annual Total Return of 12.30% for the 5-year period ended June 30, 2024, and a Current Annualized Distribution Rate of 3.33% for the current fiscal year. The Fund's fiscal year began on November 1, 2023, with a Current Fiscal Year Cumulative Total Return of 7.10% and a Cumulative Distribution Rate of 2.21% as of June 30, 2024.
The Mexico Fund (NYSE: MXF) has released its fiscal 2024 Semi-Annual Report for the period ending April 30, 2024. The Fund's NAV per share achieved a total return of 21.62%, slightly outperforming its benchmark, the MSCI Mexico Index, which returned 21.58%. The Fund's market price saw a total return of 22.06%. Over one, five, ten, and fifteen-year periods, the Fund's NAV per share outperformed the benchmark. As of April 30, 2024, the Fund's market price was $17.99, with an NAV per share of $22.62, reflecting a 20.47% discount.
The Expense Limitation Agreement was renewed, capping the ordinary expense ratio at 1.40%, provided net assets remain over $260 million. The Fund's ordinary expense ratio was 1.34% in the first half of 2024. The Board of Directors confirmed the continuation of quarterly distributions, declaring a $0.22 per share distribution to be paid on July 25, 2024, to shareholders on record as of July 17, 2024.
The Mexico Fund (NYSE: MXF) has announced a distribution of $0.22 per share, payable on July 25, 2024, to stockholders of record as of July 17, 2024. This distribution continues the Fund's Managed Distribution Plan (MDP), which has been in place since September 2008. To date, the Fund has paid $26.60 per share in cash distributions. The distribution sources include net investment income (56.82%), short-term capital gains (7.64%), long-term capital gains (15.54%), and return of capital (20.00%). The Fund's five-year average annual total return is 15.06%, with a current annualized distribution rate of 3.38% and a cumulative total return of 20.22% for the fiscal year starting November 1, 2023. The actual tax reporting of these distributions will be detailed in Form 1099-DIV sent to stockholders.
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