New Germany Fund (GF) Declares $0.01 Dividend
New Germany Fund said on May 5, 2023 that its board of directors declared a regular semi-annual dividend of $0.01 per share ($0.03 annualized). Previously, the company paid $4.92 per share.
Shares must be purchased before the ex-div date of May 12, 2023 to qualify for the dividend. Shareholders of record as of May 15, 2023 will receive the payment on May 31, 2023.
At the current share price of $9.00 / share, the stock's dividend yield is 0.30%.
Looking back five years and taking a sample every week, the average dividend yield has been 17.55%, the lowest has been 2.63%, and the highest has been 80.52%. The standard deviation of yields is 18.38 (n=196).
The current dividend yield is 0.94 standard deviations below the historical average.
The company's 3-Year dividend growth rate is 0.47%, demonstrating that it has increased its dividend over time.
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What is the Fund Sentiment?
There are 38 funds or institutions reporting positions in New Germany Fund. This is a decrease of 1 owner(s) or 2.56% in the last quarter. Average portfolio weight of all funds dedicated to GF is 0.13%, an increase of 16.40%. Total shares owned by institutions increased in the last three months by 0.08% to 9,524K shares.
What are Other Shareholders Doing?
Allspring Global Investments Holdings holds 2,474K shares. In it's prior filing, the firm reported owning 2,378K shares, representing an increase of 3.87%. The firm increased its portfolio allocation in GF by 16.30% over the last quarter.
Lazard Asset Management holds 2,258K shares. No change in the last quarter.
1607 Capital Partners holds 1,487K shares. In it's prior filing, the firm reported owning 1,400K shares, representing an increase of 5.83%. The firm increased its portfolio allocation in GF by 6.80% over the last quarter.
City Of London Investment Management holds 1,440K shares. In it's prior filing, the firm reported owning 1,426K shares, representing an increase of 0.99%. The firm increased its portfolio allocation in GF by 6.10% over the last quarter.
Uncommon Cents Investing holds 315K shares. In it's prior filing, the firm reported owning 317K shares, representing a decrease of 0.57%. The firm increased its portfolio allocation in GF by 113,568.34% over the last quarter.
New Germany Fund Background Information
(This description is provided by the company.)
The New Germany Fund, Inc. (the Fund) is a diversified, closed-end management investment company. The Fund seeks long-term capital appreciation primarily through investment in middle-market German equities. The Fund focuses its investments in Germany.
This story originally appeared on Fintel.