The Mexico Fund, Inc. Announces An Increase In Its Quarterly Distribution From $0.20 Per Share To $0.22 Per Share
Portfolio Pulse from Benzinga Newsdesk
The Mexico Fund, Inc. (MXF) has increased its quarterly distribution from $0.20 to $0.22 per share, a 10% hike. This increase corresponds to a 5% annualized distribution rate based on the market price as of November 30, 2023. The distribution is payable on January 25, 2024, to shareholders of record on January 17, 2024. The Fund's Managed Distribution Plan (MDP) will continue through 2024, with the Board retaining the right to amend or terminate the MDP. Since September 2008, MXF has distributed a total of $26.16 per share. The January 2024 distribution is estimated to be sourced from net investment income (56.81%), net realized short-term capital gains (7.63%), net realized long-term capital gains (30.53%), and return of capital (5.03%).
December 14, 2023 | 2:09 pm
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The Mexico Fund, Inc. has announced a 10% increase in its quarterly distribution to $0.22 per share, indicating a strong distributable income and commitment to returning value to shareholders.
The increase in quarterly distribution is a positive signal to investors, often reflecting a company's good financial health and a commitment to shareholder returns. This can lead to increased investor confidence and potentially a rise in stock price in the short term.
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