abrdn Asian Income Fund (LON:AAIF) Sets New 1-Year High – Here’s Why

Shares of abrdn Asian Income Fund (LON:AAIF) reached a new 52-week high on Wednesday . The company traded as high as GBX 234 ($2.88) and last traded at GBX 233 ($2.87), with a volume of 145859 shares trading hands. The stock had previously closed at GBX 232 ($2.86).

abrdn Asian Income Fund Price Performance

The company has a debt-to-equity ratio of 8.19, a quick ratio of 0.11 and a current ratio of 0.26. The company has a 50-day moving average price of GBX 221.05 and a 200-day moving average price of GBX 217.32. The firm has a market capitalization of £363.53 million, a P/E ratio of 832.14 and a beta of 0.70.

abrdn Asian Income Fund Increases Dividend

The firm also recently declared a dividend, which will be paid on Friday, February 21st. Shareholders of record on Thursday, January 23rd will be issued a GBX 6.78 ($0.08) dividend. This is an increase from abrdn Asian Income Fund’s previous dividend of $2.55. This represents a dividend yield of 2.99%. The ex-dividend date is Thursday, January 23rd. abrdn Asian Income Fund’s dividend payout ratio is 4,285.71%.

Insiders Place Their Bets

In other news, insider Ian Cadby bought 8,000 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were acquired at an average price of GBX 223 ($2.75) per share, with a total value of £17,840 ($21,994.82). Corporate insiders own 3.64% of the company’s stock.

abrdn Asian Income Fund Company Profile

Targeting the income and growth potential of Asia’s most compelling and sustainable companies.