The New Ireland Fund, Inc. Announces Suspension of Managed Distribution Policy
New Ireland Fund, Inc (The) (IRL)
US:NYSE Investor Relations:
newirelandfund.com
Company Research
Source: GlobeNewswire
BOSTON, Dec. 12, 2019 (GLOBE NEWSWIRE) -- The New Ireland Fund, Inc. (NYSE: IRL) (the “Fund”), a closed-end fund, today announced that its Board of Directors (the “Board”) determined that it is in the best interest of the Fund and its stockholders to suspend the Fund’s managed distribution policy (the “Policy”). The suspension of the Policy does not impact the Fund’s investment objective of long-term capital appreciation through investment primarily in equity securities of Irish companies. The Fund will distribute to shareholders, at least annually, substantially all of its net income from dividends and interest payments and expects to distribute substantially all of its net realized capital gains annually. During the regular review of the Policy by the Board, among other things, the Board considered the Policy’s potential to increase liquidity for common stockholders, and the potential such distributions would have, if any, on narrowing the discount to net asset value (“NAV”) a
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