Avenue Income Credit Declares 3 Months of Dividends

The monthly $0.12 per share payout has been made since December 2011.

Rich Duprey
Rich Duprey
(TMFCop)
May 3, 2013 at 6:43PM
Financials

Maintaining its $0.12 per share monthly dividend payout, closed-end management investment company Avenue Income Credit Strategies Fund (NYSE:ACP) said yesterday it will make the payout on May 31 to the holders of record at the close of business on May 15. The stock will trade ex-dividend May 13. 

Avenue Income has paid the $0.12 per share monthly dividend since December of 2011, when it was cut by $0.01. It also declared a $0.12 per share dividend for the months of June and July.

The fund's primary investment objective is to seek risk-adjusted returns with high current income and the potential for capital appreciation. It has invested in the public and private debt and equity securities of distressed companies across a variety of industries since 1995 and, as of March 31, it managed assets estimated to be approximately $11.5 billion.

The most recent dividend payment equates to a $1.44-per-share annual dividend, yielding 7.7% based on the closing price of Avenue Income Credit Strategies' stock on May 1.

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