India Fund (IFN) Declares $0.39 Dividend
India Fund said on May 9, 2023 that its board of directors declared a regular quarterly dividend of $0.39 per share ($1.56 annualized). Previously, the company paid $0.43 per share.
Shares must be purchased before the ex-div date of May 18, 2023 to qualify for the dividend. Shareholders of record as of May 19, 2023 will receive the payment on June 30, 2023.
At the current share price of $15.98 / share, the stock's dividend yield is 9.76%.
Looking back five years and taking a sample every week, the average dividend yield has been 12.04%, the lowest has been 8.27%, and the highest has been 21.01%. The standard deviation of yields is 3.00 (n=196).
The current dividend yield is 0.76 standard deviations below the historical average.
The company's 3-Year dividend growth rate is -0.11%.
Learn to Harvest Dividends
Buy Stock. Capture Dividend. Sell Stock. Repeat. This is the essence of dividend harvesting and you can do it easily with Fintel's Dividend Capture Calendar.
What is the Fund Sentiment?
There are 60 funds or institutions reporting positions in India Fund. This is an increase of 10 owner(s) or 20.00% in the last quarter. Average portfolio weight of all funds dedicated to IFN is 0.01%, an increase of 1.07%. Total shares owned by institutions decreased in the last three months by 16.86% to 4,250K shares. 
The put/call ratio of IFN is 0.00, indicating a bullish outlook.
What are Other Shareholders Doing?
Lazard Asset Management holds 2,059K shares. No change in the last quarter.
Bank Of America holds 329K shares. In it's prior filing, the firm reported owning 315K shares, representing an increase of 4.25%. The firm decreased its portfolio allocation in IFN by 99.91% over the last quarter.
Strs Ohio holds 240K shares. No change in the last quarter.
Wells Fargo holds 146K shares. In it's prior filing, the firm reported owning 139K shares, representing an increase of 4.40%. The firm decreased its portfolio allocation in IFN by 11.28% over the last quarter.
Janney Montgomery Scott holds 121K shares. In it's prior filing, the firm reported owning 109K shares, representing an increase of 9.96%. The firm increased its portfolio allocation in IFN by 118,849.17% over the last quarter.
India Fund Background Information
(This description is provided by the company.)
The India Fund, Inc. (the Fund) is a non-diversified closed-end management investment company. The Fund's investment objective is long-term capital appreciation, which it seeks to achieve by investing primarily in the equity securities of Indian companies.
This story originally appeared on Fintel.