PHILADELPHIA, Jan. 31, 2014 /PRNewswire/ -- Aberdeen
Greater China Fund, Inc. (the "Fund") (NYSE: GCH), a
closed-end equity fund, announced today that it paid a distribution
of $1.3369 per share on January 31, 2014 to all shareholders of record at
the close of business on December 20,
2013. This distribution is comprised entirely of long-terms
capital gains.
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)
As previously announced, the distribution was payable in shares
of the Fund's common stock. However, stockholders had the
option to request that their distributions be paid in cash in lieu
of common stock. The aggregate amount of cash distributions to all
stockholders was limited to 20% of the aggregate dollar amount of
the total distribution. Because cash distribution requests
exceeded this limit, the cash distribution was pro-rated among all
stockholders who made such requests. Stockholders who
requested cash distributions received $0.54 per share or 40.17% of the distribution in
cash and received the balance in the Fund's common stock. For
purposes of computing the stock portion of the dividend, the common
stock distributed was valued at $9.91
per share, which equaled the average closing price of the Fund's
common shares on the NYSE on January 23,
2014 and the two preceding trading days.
Under U.S. tax rules applicable to the Fund, the amount and
character of distributable income for each fiscal year can be
finally determined only as of the end of the Fund's fiscal year.
However, under Section 19 of the Investment Company Act of 1940, as
amended (the "1940 Act") and related Rules, the Fund may be
required to indicate to shareholders the source of certain
distributions to shareholders.
The following table sets forth the estimated amounts of the
sources of the distribution for purposes of Section 19 of the 1940
Act and the Rules adopted thereunder. The table has been computed
based on generally accepted accounting principles. The
table includes estimated amounts and percentages for this
distribution and for the cumulative distributions paid relating to
fiscal year to date (01/01/2013 –
12/31/2013) from the following sources: net investment income; net
realized short-term capital gains; net realized long-term capital
gains; and return of capital.
|
Estimated Amounts of
Current Distribution
per share
($)
|
Estimated Amounts of
Current Distribution
per share
(%)
|
Estimated
Amounts of Fiscal
Year to Date Cumulative Distributions
per share
($)
|
Estimated
Amounts of Fiscal
Year to Date Cumulative Distributions
per share
(%)
|
Net
Investment
Income
|
-
|
-
|
-
|
-
|
Net Realized
Short-
Term Capital
Gains
|
-
|
-
|
-
|
-
|
Net Realized
Long-Term Capital Gains
|
$1.3369
|
100%
|
$1.3369
|
100%
|
Return of
Capital
|
-
|
-
|
-
|
-
|
Total
|
$1.3369
|
100%
|
$1.3369
|
100%
|
The amounts and sources of distributions reported in this
notice are only estimates and are not being provided for tax
reporting purposes. The actual amounts and sources of the amounts
for tax reporting purposes will depend upon the Fund's investment
experience and may be subject to change based on tax regulations.
The final determination of the source of all distributions for 2013
will be presented in a Form 1099-DIV for the calendar year, which
will be sent to you and will tell you how to report these
distributions for federal income tax purposes.
Closed-end funds are traded on the secondary market through one
of the stock exchanges. The investment return and principal value
will fluctuate so that an investor's shares may be worth more or
less than the original cost. Shares of closed-end funds may trade
above (a premium) or below (a discount) the net asset value (NAV)
of the fund's portfolio. There is no assurance that a fund will
achieve its investment objective. Past performance does not
guarantee future results. Investing in Funds involves risk,
including loss of principle.
Circular 230 disclosure: To ensure compliance with
requirements imposed by the U.S. Treasury, we inform you that any
U.S. tax advice contained in this communication (including any
attachments) is not intended or written to be used, and cannot be
used, for the purpose of (i) avoiding penalties under the Internal
Revenue Code or (ii) promoting, marketing or recommending to
another party any transaction or matter addressed herein.
If you wish to receive this information electronically, please
contact: InvestorRelations@aberdeen-asset.com
www.aberdeengch.com
SOURCE Aberdeen Greater China Fund, Inc.