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ContraryDude (23.94)

What's up with LAQ?

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September 10, 2010 – Comments (1) | RELATED TICKERS: LAQ

My outperform pick for LAQ shows a ~20% decline today from yesterday's close.  But I don't see any news or other reason why it would have dropped so much in one day.  Is there a problem wih the feed?  Should I close my pick?

1 Comments – Post Your Own

#1) On September 10, 2010 at 5:09 PM, portefeuille (99.75) wrote:

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Aberdeen Latin America Equity Fund, Inc. Announcement Of A Cash Election Distribution

PHILADELPHIA, Sept. 1 /PRNewswire-FirstCall/ -- Aberdeen Latin America Equity Fund, Inc. (the "Fund") (NYSE AMEX: LAQ), announced today that the Fund's Board of Directors has declared a capital gain and net investment income distribution in the estimated amount of $9.282 per share.  The capital gain portion of the distribution is comprised of long-term capital gains estimated at $8.504 per share and short-term capital gains estimated at $0.671 per share.  The net investment income portion of the distribution is estimated at $0.107 per share.  The precise amount of the distribution will be determined on the record date of the distribution, at which time the Fund will make a further announcement.

The distribution will be payable on October 29, 2010 to stockholders of record on September 14, 2010 with an ex-dividend date of September 10, 2010.  The distribution will be paid in shares of the Fund's common stock.  Stockholders may, however, request that their distribution be paid in cash in lieu of common stock.  The Fund will limit the aggregate amount of cash to be paid out in the distribution to all stockholders to 10% of the aggregate dollar amount of the total distribution.  If cash distribution requests exceed this limit, the Fund will pro-rate the cash distribution among all stockholders who have made such requests, based on the amounts requested.  Requesting stockholders who do not receive 100% of their distribution in cash, will receive the balance in shares of common stock of the Fund.  Stockholder requests to receive cash in lieu of stock must be received by Computershare Trust Company, N.A., the Fund's transfer agent, not later than 4 p.m. ( New York time) on October 20, 2010. All fractional shares will be paid in cash.

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