NEW YORK, Feb. 12 /PRNewswire-FirstCall/ -- Aberdeen Global Income Fund, Inc. , (the "Fund"), a closed-end bond fund, announced today that it will pay a monthly distribution of US 6.5 cents per share on March 16, 2007 to all shareholders of record as of February 28, 2007 (ex-dividend date of February 26, 2007).
The Board's policy is to provide investors with a stable monthly distribution out of current income, supplemented by realized capital gains and, to the extent necessary, paid-in capital. It is the Board's intention that a monthly distribution of at least US 6.5 cents per share will be maintained for 12 months, beginning with the July 14, 2006 distribution payment. This policy is subject to regular review at the Board's quarterly meetings. The next review is scheduled to take place in March 2007.
For the 12 months to January 31, 2007, the Fund has paid total distributions amounting to US 75.5 cents per share.
The Fund is subject to U.S. corporate, tax and securities laws. Under U.S. tax accounting rules, the amount of distributable income for each fiscal period depends on the actual exchange rates during the entire year between the U.S. dollar and the currencies in which Fund assets are denominated and on the aggregate gains and losses realized by the Fund during the entire year. Therefore the exact amount of distributable income for each fiscal year can only be determined as of the end of the Fund's fiscal year, October 31. However, under the U.S. Investment Company Act of 1940, the Fund may be required to indicate the sources of certain distributions to shareholders.
The Fund estimates that distributions for the fiscal year commencing November 1, 2006, including the distribution paid on February 9, 2007, are comprised entirely of net investment income. This estimated distribution composition may vary from month to month because it may be materially impacted by future realized gains and losses on securities and fluctuations in the value of the currencies in which Fund assets are denominated.
In January 2008, a Form 1099-DIV will be sent to shareholders, which will state the amount and composition of distributions and provide information with respect to their appropriate tax treatment. Qualifying U.S. taxpayers are generally entitled to a foreign withholding tax credit on distributions received. Shareholders will be informed as to the exact amount of the tax credit shortly after the end of the tax year.
The Fund is managed by Aberdeen Asset Management Asia Limited and advised by Aberdeen Asset Management Limited. The Fund's shares trade on the American Stock Exchange under the symbol "FCO".
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Aberdeen Asset Management Asia Limited and Aberdeen Asset Management Limited are registered investment advisers under the Investment Advisers Act of 1940.
