The India Fund, Inc. (NYSE:IFN) declared a quarterly dividend on Tuesday, March 12th, Wall Street Journal reports. Shareholders of record on Thursday, March 21st will be paid a dividend of 0.59 per share by the investment management company on Friday, March 29th. This represents a $2.36 dividend on an annualized basis and a yield of 11.00%. The ex-dividend date is Wednesday, March 20th.
The India Fund has increased its dividend by an average of 33.0% per year over the last three years.
Shares of IFN stock opened at $21.46 on Friday. The India Fund has a one year low of $19.66 and a one year high of $25.76.
An institutional investor recently raised its position in The India Fund stock. Geode Capital Management LLC increased its holdings in shares of The India Fund, Inc. (NYSE:IFN) by 4.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 93,755 shares of the investment management company’s stock after purchasing an additional 3,868 shares during the period. Geode Capital Management LLC owned 0.34% of The India Fund worth $1,897,000 as of its most recent SEC filing. Institutional investors and hedge funds own 22.58% of the company’s stock.
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The India Fund Company Profile
The India Fund, Inc is a close ended equity mutual fund launched and managed by Aberdeen Standard Investments (Asia) Limited. The fund invests in public equity markets of India. It seeks to invest in stocks of small-cap, mid-cap, and large-cap companies. The fund employs a quantitative and fundamental analysis with a bottom-up stock picking and asset allocation approach to create its portfolio.
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