Acorn Income Fund Ld Dividends - AIF

Acorn Income Fund Ld Dividends - AIF

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Stock Name Stock Symbol Market Stock Type
Acorn Income Fund Ld AIF London Ordinary Share
  Price Change Price Change % Stock Price Last Trade
0.00 0.0% 367.50 01:00:00
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Acorn Income Fund Ld AIF Dividends History

Announcement Date Type Currency Dividend Amount Period Start Period End Ex Date Record Date Payment Date Total Dividend Amount

Top Dividend Posts

speedsgh: Publication of Elections and Residual Net Asset Value per Ordinary Share - HTTPS:// Further to the Company’s announcement on 12 October 2021, in which the Company was placed into liquidation, the Company announces the elections from Ordinary Shareholders (including deemed elections) and Residual NAV per Ordinary Share under the terms of the Scheme: Elections Shares Option (A Shares): 8,721,365 Ordinary Shares with “A” rights, being Ordinary Shares with the entitlement to receive income shares in Unicorn UK Income Fund (“UKI Shares”), an open ended fund managed by Unicorn Asset Management. Cash Option (B Shares): 7,095,322 Ordinary Shares with “B” rights, being Ordinary Shares with the entitlement to receive cash. Residual NAV per Share The Residual NAV is £64,965,033.24 and the Residual NAV per Share as at the Calculation Date of 9 November 2021 is 410.7373 pence. Of this Residual NAV, £706,870.00 equivalent to 4.4691 pence per Ordinary Share, will be transferred to the Retention Fund held by the Liquidators. These amounts are in respect of a single security from the fixed interest portfolio that the Liquidator has been unable to sell, and which does not meet the investment objective of Unicorn UK Income Fund and therefore is deemed inappropriate to be part of the in specie transfer of assets, and the Liquidators’ retention of £10,000. Cash received from future sales of this security will be returned to all Ordinary Shareholders (on the register as at the Record Date), both those electing for the Cash Option and those electing for the Shares Option, on a pro rata basis at a later date. Although the security may be sold sooner, for guidance, it has a maturity date in 2024 when it is currently expected to redeem at par. The remaining balance of £64,258,163.24 equivalent to 406.2682 pence per Ordinary Share, will be divided between electors for the Cash Option and the Shares Option in the same proportions as the elections as stated above. Therefore, Ordinary Shareholders will imminently receive the following cash and/or number of UKI Shares: ~ For Ordinary Shareholders that elected to receive UKI Shares, each Ordinary Share with “A” rights attached to it will receive 1 UKI Share and the opening NAV of each UKI Share will equal 406.2682 pence. ~ For Ordinary Shareholders that elected for the Cash Option, each Ordinary Share with “B” rights attached to it will receive 406.2682 pence in cash. Cheques are expected to be despatched and electronic bank transfers made in respect of the Cash Option during the week commencing 15 November 2021. Entitlements shall be rounded down to the nearest £0.01, as the case may be. [continues]
speedsgh: All proposals passed at EGM this morning. AIF NAV on 9 Nov is d-day with respect to shareholder entitlements to cash/Unicorn UK Income shares... HTTPS:// As a result of the passing of the Resolutions, the Company has been placed into liquidation pursuant to Section 391(1)(b) of the Companies Law and Benjamin Alexander Rhodes and Andrea Frances Alice Harris of Grant Thornton Limited have been appointed as Liquidators. Shareholder entitlements under the Scheme A further announcement is expected to be made on or around 10 November 2021 detailing shareholder entitlements to cash and/or Unicorn UK Income Shares pursuant to the Scheme (such entitlements to be calculated by reference to the NAV of the Company’s Shares and of Unicorn UK Income Fund’s Shares as at 9 November 2021.
adrunkenmarcus: I sold my AIF in the market because I didn't like the proposed new global mandate. I was annoyed afterwards. On the other hand, the proceeds went into BRSC which has performed well!
speedsgh: AGM/EGM set for 12 Oct... Publication of Circular: Scheme of Reconstruction and Winding Up - HTTPS:// Final interim dividend of 7.5p payable 8 Oct (XD 30 Sept) in respect of remaining estimated revenue reserves as at 22 Sept. No further dividend payments anticipated... Dividend Announcement - HTTPS://
mister md: happy with 60% gain in a short time here (bit of luck re: entry point) - likewise I will hold on for the price to get a bit closer to NAV, but may then switch into something with a higher dividend yield instead - to be decided ...
speedsgh: Dividend Declaration and Update on Future of the Company - HTTPS:// Dividend declaration The Directors are pleased to declare a third interim dividend for the year ending 31 December 2021 of 5.75p per Ordinary Share, which is in line with the corresponding dividend for the year ended 31 December 2020 and also that of the first and second interim dividends for 2021. Ex-Dividend Date: 9 September 2021 Record Date: 10 September 2021 Payment Date: 30 September 2021 Dividend per Share: 5.75 pence per Ordinary Share (Sterling) Update on the future of the Company Further to the Company’s announcement on 17 May 2021, where the Board of the Company announced proposals to recommend the appointment of BMO Global Asset Management to manage the Company under a new Sustainable Global Equity Income investment strategy (the “BMO Proposal”), the Board has received further interest from managers regarding the future of the Company. Despite the Board continuing to believe that the BMO Proposal is an attractive investment proposition, after careful consideration of shareholder feedback the Board has concluded that an alternative proposal to the BMO Proposal may represent a more suitable proposition for the Company’s shareholders. Given the continued shareholder consultations and the review process of alternative proposals, the Company confirms that the Extraordinary and Annual General Meetings will not be held in August 2021 as previously expected. An announcement with further details on the future of the Company will be published as soon as practicable and expected to be no later than mid-September. Thereafter, the Company expects to publish a circular in relation to the Board's proposals for the future of the Company, including a notice convening the Extraordinary and Annual General Meetings.
adrunkenmarcus: I sold my AIF around 360p as I didn't like the new mandate (as proposed). The proceeds mostly went into BRSC, since up about 12% including a dividend. I didn't like selling at a NAV discount but BRSC has produced a return, so far, equal to about 403p per AIF share I sold.
speedsgh: Fairly dour set of results, unsurprising in view of last year's events compounded by the trust's high level of gearing. An unfortunately-timed purchase of hedging (listed put option on the FTSE 100) after the horse had already bolted served to exacerbate matters but perhaps easy to say that now with the benefit of hindsight. Looking forward it sounds nailed on that the dividend will be re-based and they are undertaking a strategic review with proposals to be put forward alongside the 5-yearly discontinuation vote at the AGM in August. Annual Financial Report - HTTPS:// on the DIVIDEND... "The Board has been pleased to see the recovery in earnings throughout the second half of the year, certainly reaching a level which was far from visible during the second quarter, and although our projections do show a recovery in the Company's revenues for 2021 and thereafter, the Board believe that it is likely that a return to a sustainable and covered dividend will necessitate a lower dividend payment in future years." on the STRATEGIC REVIEW... At the Annual General Meeting in August 2021, a discontinuation vote will be put to the shareholders and they will be asked to vote on whether they wish the Company to continue for a further five years. At the same time the Directors intend to put forward proposals, yet to be finalised, that may involve changes to investment policy, corporate structure, gearing and dividend yield. Shareholders will be able to consider whether they wish the Company to continue for a further five years in the light of these changes. In preparing these proposals the Board has been working with the Company's broker and has employed an external consultant to conduct a strategic review of the company. This strategic review is predominantly focussing on the following areas: • the investment management structure and investment objectives that will seek to address the discount, expand the investor base and facilitate the growth of the Company over the coming years; • the appropriate level of sustainable yield; • gearing level together with the resultant impact on income yield; and • form of gearing, if any, (i.e. ZDPs and/or bank debt) that is most appropriate in the current market environment. At this time the review is still in active progress and we will report to shareholders as soon as more detailed information is available. As a result of the review the AGM voting documents will be made available separately to this report and are not, as has historically been the Board's practice, included at the end of this report. As a consequence of the strategic review, there will inevitably be material changes to the formal structure of the relationship with the Investment Advisers and Investment Manager. To this end, the Company has served protective notice to terminate the Investment Management Agreement which has the effect of initiating the notice period required under the Agreement. This action should not be interpreted as an indication that the current Investment Advisers will not be involved in the management of Acorn's portfolio post the conclusion of the strategic review.
speedsgh: Dividend cut on the way... Dividend Announcement - HTTPS:// The Directors are pleased to declare a first interim dividend for the year ending 31 December 2021 of 5.75p per Ordinary Share which is in line with the corresponding dividend for the year ended 31 December 2020. As previously announced at the time of the fourth interim dividend for the year ending 31 December 2020, the income from your Company's investment portfolio has inevitably been adversely hit by dividend cuts as our investee companies seek to manage their businesses in these extraordinary times. It is the Directors' current intention to utilise revenue reserves to maintain the first and second quarterly dividend payments at the same level as the corresponding quarterly dividends for the year ending 31 December 2020. The Company currently has £1.954m of revenue reserves equivalent to 12.36 pence per share. Although our projections do show a recovery in the Company’s revenues for 2021, the Directors believe that it is likely that a return to a sustainable and covered dividend will necessitate a lower dividend payment in future years. Noting the Company is scheduled to hold a discontinuation vote at the AGM in August this year, and that the ZDPs come to the end of their life in early 2022, the Directors aim to report to shareholders ahead of the AGM with an updated view on future dividend policy. Ex-Dividend Date - 11 March 2021 Record Date - 12 March 2021 Payment Date - 31 March 2021 Dividend per Share - 5.75 pence per Ordinary Share (Sterling)
speedsgh: Dividend Announcement - HTTPS:// The Directors are pleased to declare a fourth interim dividend for the year ending 31 December 2020 of 5.75p per Ordinary Share which represents an increase of 10.58% compared to the corresponding dividend for the year ended 31 December 2019. With this distribution the total dividend for 2020 will be 23p per Ordinary Share, a 10.58% increase on the 20.8p distribution in 2019. COVID-19 has led many UK companies to reduce or cancel dividend payments and this has impacted Acorn's earnings in 2020. The 23p per Ordinary Share distribution for the year will be achieved by drawing from the Company's revenue reserves. At 31 December 2019, Acorn had revenue reserves equal to 1.04 times the 2019 dividend. The Directors consider the current situation is one in which it is appropriate to draw on those reserves in order to maintain income levels for investors. Acorn will not distribute from capital. Dividends will only be paid out of current period revenues and revenue reserves. The recovery in the income flow from the Company's Smaller Companies portfolio is progressing well. Many of Acorn's investee companies initially adopted a cautious approach to the uncertainties that lay ahead and reduced or passed their dividends. These companies are now resuming dividend payments. A few have actually increased dividends above their 2019 level. There are nine investee companies in the portfolio that have not yet resumed dividends however our investment advisers for the Smaller Companies portfolio believe that most of these will make distributions in 2021. The directors will monitor the level of income generated by the portfolio and this in turn will inform decisions on the appropriate dividend distribution for 2021. Ex-Dividend Date: 3 December 2020 Record Date: 4 December 2020 Payment Date: 18 December 2020 Dividend per Share: 5.75 pence per Ordinary Share (Sterling)
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