The Korea Fund, Inc. (KF) to Issue Annual Dividend of $0.94 on January 12th

The Korea Fund, Inc. (NYSE:KF) announced an annual dividend on Friday, January 1st. Investors of record on Tuesday, December 23rd will be paid a dividend of 0.9442 per share on Monday, January 12th. This represents a dividend yield of 124.0%. The ex-dividend date is Tuesday, December 23rd.

The Korea Fund Stock Performance

Shares of NYSE:KF opened at $35.55 on Friday. The stock’s fifty day simple moving average is $34.80 and its two-hundred day simple moving average is $30.33. The Korea Fund has a 1-year low of $18.15 and a 1-year high of $37.69.

Institutional Investors Weigh In On The Korea Fund

A number of institutional investors have recently added to or reduced their stakes in the company. City of London Investment Management Co. Ltd. lifted its position in shares of The Korea Fund by 22.2% during the 2nd quarter. City of London Investment Management Co. Ltd. now owns 1,322,098 shares of the company’s stock worth $35,604,000 after buying an additional 239,908 shares in the last quarter. Matisse Capital lifted its holdings in The Korea Fund by 278.9% during the second quarter. Matisse Capital now owns 82,265 shares of the company’s stock worth $2,215,000 after acquiring an additional 60,555 shares during the period. Strs Ohio purchased a new position in The Korea Fund in the first quarter worth $395,000. Cornerstone Wealth Management LLC boosted its position in The Korea Fund by 155.1% in the third quarter. Cornerstone Wealth Management LLC now owns 25,485 shares of the company’s stock worth $779,000 after purchasing an additional 15,495 shares during the last quarter. Finally, Shaker Financial Services LLC bought a new position in The Korea Fund in the 3rd quarter valued at $242,000. 69.99% of the stock is owned by institutional investors.

About The Korea Fund

The Korea Fund, Inc (NYSE: KF) is a closed-end management investment company that provides U.S. investors with focused exposure to the South Korean equity market. Established in 1953, it is one of the oldest U.S. funds dedicated to investing in Korean securities. The Fund is domiciled in Delaware and trades on the New York Stock Exchange, offering investors access to a broad range of companies operating in one of Asia’s leading economies.

The Fund’s primary business activity is the acquisition of common stocks and American depositary receipts issued by companies that are either domiciled in South Korea or derive a significant portion of their revenues from Korean operations.