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Acorn Income Fund - Dividend Announcement

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ACORN INCOME FUND LIMITED
(a dosed-ended investment company incorporated in Guernsey with registration number 34778}
LEI 213800UAZN7G46AHQM67

28 May 2021

Acorn Income Fund Limited Dividend Announcement

The Directors are pleased to declare a second interim dividend for the year ending 31 December 2021 of 5.75p per Ordinary Share which is in line with the corresponding dividend for the year ended 31 December 2020 and also that of the first interim dividend for 2021.

As previously announced, the Company has suffered an adverse impact from dividend cuts in its investee companies and in the Dividend Declaration made in respect of the first interim dividend published on 25 February 2021 the Directors noted that the Company's revenue reserves would be employed to maintain the first and second interim dividends at the same level as the equivalent periods last year. As at 31 March 2021, the Company had £1.289M of revenue reserves equivalent to 8.15 pence per share. The Directors also noted that following the payment of the second interim dividend they anticipated that for future dividends to be fully covered, a lower dividend payment would be necessitated.

Against this backdrop, the Directors have conducted a strategic review which was outlined in the Company's Annual Financial Report published on 21 April 2021. On May 17th the Director's announced the result of this review. A shareholder circular setting out proposals for a change of Investment Objective and Policy, together with details of the proposed new Investment Manager and revised dividend policy will be sent to shareholders in July 2021.

Ex-Dividend Date 10 June 2021

Record Date 11 June 2021

Payment Date 30 June 2021

Dividend per Share 5.75 pence per Ordinary Share (Sterling)

For information please contact:

Northern Trust International Fund Administration Services (Guernsey) Limited
Company Secretary +44 (0) 1481745498

Premier Miton Investors
Claire Long + 44 (0) 1483 400463

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