AllianceBernstein Income Fund Inc. (NYSE:ACG)’ commences trading ex-dividend


Dallas, Texas 09/05/2013 (Financialstrend) – AllianceBernstein Income Fund Inc. (NYSE:ACG) commenced trading ex-dividend on 4 September. A cash-dividend payment of $0.03455/share is slated to be paid out on 20 September 2013. Shareholders who have bought the company stock before the ex-dividend date will be eligible for this cash dividend payment. This represents a 13.63% drop from the same period in 2012. At the stock price of $6.92 the dividend-yield is 5.99%.

Wednesday’s trading

AllianceBernstein Income Fund Inc. (NYSE:ACG) stock dipped 0.08% in Wednesday’s trading session. The opening price of the shares was $6.87 which touched an intraday high of $6.88 and closed at $6.84. More than 0.776 million shares exchanged hands on Wednesday while the average volume of shares traded over 30 days was 1.02 million. The company has a market cap of $1.66 billion.

The company

ACG is a close-ended, diversified management-investment company. It is specifically designed to provide consistent current-income with capital-preservation. The Fund generally invests a minimum of 80% of the company’s net assets in various income-producing securities while a minimum of 65% is invested in securities that are guaranteed or issued by the U.S government, its instrumentalities or agencies. In addition, the company also repurchases agreements that pertain to the U.S government securities.

Its investment strategy

Apart from this, the company might also invest a minimum of 35 percent of its various assets in fixed-income securities. These include ones that have been issued by nongovernmental issuers in the U.S and those that have been issued by some foreign governments. The fund may also invest up to 35 percent of its net-assets in below investment-grade securities.

AllianceBernstein LLP is AllianceBernstein Income Fund Inc. (NYSE:ACG)’s fund manager. The company also invests in sovereign debt-obligations of different countries that are considered to be part of the emerging market segment. Some of the funds may also be invested in foreign-securities.

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