Acorn Income Fund Dividend Announcement

 
TIDMAIF TIDMAIFZ 
 
ACORN INCOME FUND LIMITED 
 (a closed-ended investment company incorporated in Guernsey with registration 
                                 number 34778) 
                           LEI 213800UAZN7G46AHQM67 
 
 
25 February 2021 
 
                           Acorn Income Fund Limited 
 
                             Dividend Announcement 
 
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) 
 
For information please contact: 
 
Northern Trust International Fund Administration Services (Guernsey) Limited 
Company Secretary                          [phone] 
 
Premier Miton Investments 
Claire Long                                       + 44 (0) 1483 400463 
 
 
 
END 
 
 

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February 25, 2021 02:00 ET (07:00 GMT)