The India Fund, Inc. (NYSE:IFN) declared a quarterly dividend on Thursday, June 13th, Wall Street Journal reports. Shareholders of record on Friday, June 21st will be paid a dividend of 0.59 per share by the investment management company on Friday, June 28th. This represents a $2.36 annualized dividend and a yield of 10.87%. The ex-dividend date is Thursday, June 20th.
The India Fund has raised its dividend payment by an average of 33.0% per year over the last three years.
NYSE IFN traded down $0.05 during trading on Thursday, hitting $21.71. The company had a trading volume of 849 shares, compared to its average volume of 93,813. The India Fund has a one year low of $19.66 and a one year high of $25.69.
A hedge fund recently raised its stake in The India Fund stock. Geode Capital Management LLC grew its stake in The India Fund, Inc. (NYSE:IFN) by 4.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 93,755 shares of the investment management company’s stock after purchasing an additional 3,868 shares during the quarter. Geode Capital Management LLC owned about 0.34% of The India Fund worth $1,897,000 at the end of the most recent quarter. 21.41% of the stock is currently owned by institutional investors and hedge funds.
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About The India Fund
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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