|By PR Newswire||
|December 7, 2012 02:27 PM EST||
PHILADELPHIA, Dec. 7, 2012 /PRNewswire/ -- The India Fund, Inc. (the "Fund") (NYSE: IFN), announced today that the Fund's Board of Directors has declared a capital gain and net investment income distribution in the amount of $2.371234 per share. The capital gain portion of the distribution is comprised of long-term capital gains of $2.220834 per share. The net investment income portion of the distribution is $0.150400 per share.
The distribution will be payable on January 31, 2013 to stockholders of record on December 21, 2012. 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 20% of the aggregate dollar amount of the total distribution. Any cash paid in lieu of fractional shares will not count toward this limit. 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. Stockholders electing cash, who do not receive 100% of the 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 Shareowner Services, LLC the Fund's Election Agent, not later than 5:00 p.m. (New York time) on January 24, 2013. All fractional shares will be paid in cash.
The per share value of shares of the Fund's common stock to be issued in the distribution will be determined on January 25, 2013. The per share value will be the average trading price of the Fund's common shares on the New York Stock Exchange as of the close of trading during a three-business day period ending on January 25, 2013. Although the distribution is payable in 2013, it will be treated as having been paid by the Fund and received by stockholders as of December 31, 2012.
The Board of Directors considered available options, including an all-cash distribution, the payment of an excise tax and postponement of the distribution payment, and a cash election distribution with higher caps or no cap on the cash component, and approved the capped cash election distribution at the proposed 20% level for the following reasons:
- The size of the distribution relative to the size of the Fund.
- The adverse long-term impact on the Fund's gross total expense ratio and investable capital if the distribution was paid entirely in cash.
- The potential market impact of selling the Fund's portfolio securities at a time when market conditions may be less favorable to stockholders' long-term interests and the transaction costs associated with such disposals.
- The tax implications if further gains were generated as a result of the sale of portfolio securities to raise cash to meet an all-cash or high-cash distribution.
A written notice of the planned distribution will be sent to stockholders. The written notice will include instructions on how stockholders can request to receive cash in lieu of stock.
Stockholders who have questions regarding the distribution may contact AST Fund Solutions, LLC at 1-866-406-2283.
The Fund is a closed-end management investment company that seeks long-term capital appreciation by investing primarily in equity securities of Indian companies. The Fund conducts semi-annual repurchase offers and is traded on the New York Stock Exchange under the trading symbol "IFN."
Closed-end funds are traded on the secondary market through one of the stock exchanges. The Fund's investment return and principal value will fluctuate so that an investor's shares may be worth more or less than the original cost. Shares of closed-end funds may trade above (a premium) or below (a discount) the net asset value (NAV) of the fund's portfolio. There is no assurance that the Fund will achieve its investment objective. Past performance does not guarantee future results.
If you wish to receive this information electronically, please contact:
SOURCE The India Fund, Inc.
The Internet of Things will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform and how we integrate our thinking to solve complicated problems. In his session at 19th Cloud Expo, Craig Sproule, CEO of Metavine, will demonstrate how to move beyond today's coding paradigm ...
Jun. 29, 2016 07:00 PM EDT Reads: 461
The cloud market growth today is largely in public clouds. While there is a lot of spend in IT departments in virtualization, these aren’t yet translating into a true “cloud” experience within the enterprise. What is stopping the growth of the “private cloud” market? In his general session at 18th Cloud Expo, Nara Rajagopalan, CEO of Accelerite, explored the challenges in deploying, managing, and getting adoption for a private cloud within an enterprise. What are the key differences between wh...
Jun. 29, 2016 05:30 PM EDT Reads: 1,037
SYS-CON Events has announced today that Roger Strukhoff has been named conference chair of Cloud Expo and @ThingsExpo 2016 Silicon Valley. The 19th Cloud Expo and 6th @ThingsExpo will take place on November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. "The Internet of Things brings trillions of dollars of opportunity to developers and enterprise IT, no matter how you measure it," stated Roger Strukhoff. "More importantly, it leverages the power of devices and the Interne...
Jun. 29, 2016 04:15 PM EDT Reads: 447
"We work in the area of Big Data analytics and Big Data analytics is a very crowded space - you have Hadoop, ETL, warehousing, visualization and there's a lot of effort trying to get these tools to talk to each other," explained Mukund Deshpande, head of the Analytics practice at Accelerite, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Jun. 29, 2016 04:15 PM EDT Reads: 424
The idea of comparing data in motion (at the sensor level) to data at rest (in a Big Data server warehouse) with predictive analytics in the cloud is very appealing to the industrial IoT sector. The problem Big Data vendors have, however, is access to that data in motion at the sensor location. In his session at @ThingsExpo, Scott Allen, CMO of FreeWave, discussed how as IoT is increasingly adopted by industrial markets, there is going to be an increased demand for sensor data from the outermos...
Jun. 29, 2016 04:00 PM EDT Reads: 381
UAS, drones or unmanned aircraft, no matter what you call them — this was their week. Our news stream was flooded with updates on the newly announced rules and regulations for commercial UAS from the FAA. So, naturally we have dedicated this week’s top news round up to highlight some of our favorite UAS stories.
Jun. 29, 2016 03:02 PM EDT Reads: 288
Internet of @ThingsExpo has announced today that Chris Matthieu has been named tech chair of Internet of @ThingsExpo 2016 Silicon Valley. The 6thInternet of @ThingsExpo will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Jun. 29, 2016 03:00 PM EDT Reads: 377
CenturyLink has announced that application server solutions from GENBAND are now available as part of CenturyLink’s Networx contracts. The General Services Administration (GSA)’s Networx program includes the largest telecommunications contract vehicles ever awarded by the federal government. CenturyLink recently secured an extension through spring 2020 of its offerings available to federal government agencies via GSA’s Networx Universal and Enterprise contracts. GENBAND’s EXPERiUS™ Application...
Jun. 29, 2016 02:00 PM EDT Reads: 401
Basho Technologies has announced the latest release of Basho Riak TS, version 1.3. Riak TS is an enterprise-grade NoSQL database optimized for Internet of Things (IoT). The open source version enables developers to download the software for free and use it in production as well as make contributions to the code and develop applications around Riak TS. Enhancements to Riak TS make it quick, easy and cost-effective to spin up an instance to test new ideas and build IoT applications. In addition to...
Jun. 29, 2016 02:00 PM EDT Reads: 666
In addition to all the benefits, IoT is also bringing new kind of customer experience challenges - cars that unlock themselves, thermostats turning houses into saunas and baby video monitors broadcasting over the internet. This list can only increase because while IoT services should be intuitive and simple to use, the delivery ecosystem is a myriad of potential problems as IoT explodes complexity. So finding a performance issue is like finding the proverbial needle in the haystack.
Jun. 29, 2016 01:15 PM EDT Reads: 366
When people aren’t talking about VMs and containers, they’re talking about serverless architecture. Serverless is about no maintenance. It means you are not worried about low-level infrastructural and operational details. An event-driven serverless platform is a great use case for IoT. In his session at @ThingsExpo, Animesh Singh, an STSM and Lead for IBM Cloud Platform and Infrastructure, will detail how to build a distributed serverless, polyglot, microservices framework using open source tec...
Jun. 29, 2016 12:30 PM EDT Reads: 565
Apixio Inc. has raised $19.3 million in Series D venture capital funding led by SSM Partners with participation from First Analysis, Bain Capital Ventures and Apixio’s largest angel investor. Apixio will dedicate the proceeds toward advancing and scaling products powered by its cognitive computing platform, further enabling insights for optimal patient care. The Series D funding comes as Apixio experiences strong momentum and increasing demand for its HCC Profiler solution, which mines unstruc...
Jun. 29, 2016 11:00 AM EDT Reads: 534
The IoT is changing the way enterprises conduct business. In his session at @ThingsExpo, Eric Hoffman, Vice President at EastBanc Technologies, discussed how businesses can gain an edge over competitors by empowering consumers to take control through IoT. He cited examples such as a Washington, D.C.-based sports club that leveraged IoT and the cloud to develop a comprehensive booking system. He also highlighted how IoT can revitalize and restore outdated business models, making them profitable ...
Jun. 29, 2016 11:00 AM EDT Reads: 499
Presidio has received the 2015 EMC Partner Services Quality Award from EMC Corporation for achieving outstanding service excellence and customer satisfaction as measured by the EMC Partner Services Quality (PSQ) program. Presidio was also honored as the 2015 EMC Americas Marketing Excellence Partner of the Year and 2015 Mid-Market East Partner of the Year. The EMC PSQ program is a project-specific survey program designed for partners with Service Partner designations to solicit customer feedbac...
Jun. 29, 2016 11:00 AM EDT Reads: 601
IoT offers a value of almost $4 trillion to the manufacturing industry through platforms that can improve margins, optimize operations & drive high performance work teams. By using IoT technologies as a foundation, manufacturing customers are integrating worker safety with manufacturing systems, driving deep collaboration and utilizing analytics to exponentially increased per-unit margins. However, as Benoit Lheureux, the VP for Research at Gartner points out, “IoT project implementers often ...
Jun. 29, 2016 10:45 AM EDT Reads: 568
"delaPlex is a software development company. We do team-based outsourcing development," explained Mark Rivers, COO and Co-founder of delaPlex Software, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Jun. 29, 2016 10:30 AM EDT Reads: 520
In his general session at 18th Cloud Expo, Lee Atchison, Principal Cloud Architect and Advocate at New Relic, discussed cloud as a ‘better data center’ and how it adds new capacity (faster) and improves application availability (redundancy). The cloud is a ‘Dynamic Tool for Dynamic Apps’ and resource allocation is an integral part of your application architecture, so use only the resources you need and allocate /de-allocate resources on the fly.
Jun. 29, 2016 10:00 AM EDT Reads: 1,307
Connected devices and the industrial internet are growing exponentially every year with Cisco expecting 50 billion devices to be in operation by 2020. In this period of growth, location-based insights are becoming invaluable to many businesses as they adopt new connected technologies. Knowing when and where these devices connect from is critical for a number of scenarios in supply chain management, disaster management, emergency response, M2M, location marketing and more. In his session at @Th...
Jun. 29, 2016 09:45 AM EDT Reads: 1,275
Machine Learning helps make complex systems more efficient. By applying advanced Machine Learning techniques such as Cognitive Fingerprinting, wind project operators can utilize these tools to learn from collected data, detect regular patterns, and optimize their own operations. In his session at 18th Cloud Expo, Stuart Gillen, Director of Business Development at SparkCognition, discussed how research has demonstrated the value of Machine Learning in delivering next generation analytics to imp...
Jun. 29, 2016 09:45 AM EDT Reads: 961
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life sett...
Jun. 29, 2016 09:15 AM EDT Reads: 1,468