abrdn Emerging Markets ex-China Fund owns shares of companies across emerging markets outside China. The opportunity is in business growth and market gains as well as dividends, with country and currency moves shaping the result.
Business
Specialist equity CEF
Listing
AEF · NYSE American
Reporting period
2026-06-30
Dividend schedule
Quarterly
How the business works
Portfolio dividends contribute income, but stock gains and losses can matter much more to this equity fund's cash policy. NAV gives the clearest view of how the underlying portfolio value moved while cash was paid.
Extras are shown separately and are not assumed to repeat.
Reported earnings
Each measure shown separately, per share
Net investment income$0.05
Jan 1, 2026 to Jun 30, 2026
$0.00$0.05
Distribution yield10.62%Sourced distributions divided by dated market priceReported annual income yield0.43%Reported net investment income $0.0300 per share for 2025-01-01 to 2025-12-31, divided by approved 2025-12-31 market price $7.0000. Excludes capital gains; historical, not a current yield or forecast.Reported annual investment income$0.03Per share for 2025 FY. Excludes investment gains.Annual dividend$1.04Current regular payment annualized per share
Dividend payment history
Date or month
Per share
Sep 30, 2026
$0.26
Reported earnings and sources
Reported earnings for the latest four periods. Compare the same earnings measure across periods; different measures are not added together.
Cash distributions are the total paid per share during each reporting period, including any gains or return of capital. Period lengths may differ, so compare the dates before comparing amounts. Short periods are not annualized.
NAV change excludes distributions. Reported NAV total return includes reinvestment and is copied from the fund statement, not estimated by adding cash distributions to the NAV change.
How to read AEF income
Dividends received after fund expenses help explain recurring income. Realized gains and return of capital are separate sources of distributions.
Watch dividend changes in the holdings and NAV over time. A high distribution rate does not guarantee stable capital.
Income and distributions
Income and cash distributions per share for the same dated periods. Shorter periods are kept separate and are not annualized. Dividends received after fund expenses help explain recurring income. Realized gains and return of capital are separate sources of distributions.
Financial snapshot: 2026-06-30. Research reviewed 2026-09-20. Compare results for the reporting periods shown. Historical results are not a forecast.
The assets it owns
$432.793 million net assetsInvestment mix at June 30, 2026
Net assets after liabilities. The chart shows investment assets before net liabilities, not percentages of net assets.
Information technology52.5281%
Financials16.1985%
Industrials9.2697%
Materials5.618%
Other equity sectors15.4494%
Short-term investment0.9363%
Derived from the company’s GICS table. Reported investments equal 106.8% of net assets, offset by net liabilities of 6.8%. Each investment category is divided by 106.8 to show a 100% investment-asset mix. Other equity sectors combines the seven remaining reported sectors; rounding applies.
Net realized and unrealized investment and currency gains$3.4200
Total distributions$0.4400
$0.00$3.50
For the first half of 2026, AEF reported $0.05 of net investment income per share and $0.44 of distributions. That income-only comparison does not capture realized stock gains or losses, so it is not an earnings-coverage verdict on the payment.
Portfolio dividends and interest, realized investment results and any option activity contribute to distribution resources after expenses. A declared distribution can include gains or return of capital as well as investment income; its amount is not an earnings figure.
The earnings available to shareholders depend on the cash generated by these activities after operating and financing costs. Portfolio gains, financing proceeds and recurring income should be evaluated separately.
The June 30, 2026 financial highlights report $27 million in revolving credit borrowings and $432.793 million in net assets.
Financing can increase earning assets, but its cost reduces income available to common shareholders. When borrowing costs rise or portfolio income falls, the distribution can become harder to sustain.
abrdn Emerging Markets ex-China Fund, Inc. reported $0.0500 per share for 2026-01-01 through 2026-06-30, measured as Fund net investment income per common share; actual reporting period, not annualized.
Actual per-share reporting period, without annualisation. Net investment income, realized gains, unrealized changes and cash distributions are different measures. This comparison is not the Fly High forward Dividend Coverage Ratio.
Losses or weaker cash generation in sector and regional equity investments can reduce the resources available for future distributions.
Watch for changes in the underlying exposure and the next reported results before treating the current payment as evidence of continuing earnings support.
A maintained payment can exceed investment results. Review NAV and reported income together rather than treating distribution yield as total return.
Watch for changes in the underlying exposure and the next reported results before treating the current payment as evidence of continuing earnings support.
Read the next equity results, distribution sources and NAV together. Watch country exposure and currencies as well as the cash amount.
Net asset value (NAV)
NAV per share$10.14Sep 29, 2026Market price$9.56Sep 29, 2026PREMIUM / DISCOUNT TO NAV5.72% discountCalculated from the displayed same-date values.
NAV is the fund's assets minus liabilities, divided by shares outstanding. All values are USD per share.
CEFConnect current common-share NAV and closing market price, both dated 2026-09-29. The published premium or discount agrees with the calculation within source rounding. Older audited NAV history remains unchanged.
Read the next equity results, distribution sources and NAV together. Watch country exposure and currencies as well as the cash amount.
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U.S. federal · Tax year 2025
Dividend tax treatment
Final 2025 company tax information reports $0.65 in cash distributions plus $0.07934 of foreign tax paid on shareholders’ behalf. The $0.72934 gross tax-reporting total comprises $0.12441 ordinary dividends, including $0.08880 qualified dividends, and $0.60493 return of capital.
Ordinary, nonqualified
4.88%
Qualified dividends
12.18%
Capital-gain distributions
0%
Return of capital
82.94%
Tax year: 2025. Total distributions: $0.73 per share.
Tax details and source
Total ordinary dividends (includes qualified)
17.06%
Section 199A portion (within ordinary dividends)
0%
Exempt-interest distributions
0%
Reporting form
Form 1099-DIV
Source date
2026-01-22
Qualified dividends are included in total ordinary dividends. Section 199A is a separate designation within ordinary dividends, not extra income or qualified dividend income.
Your account type, holding period and circumstances affect treatment. Use your broker’s tax statement for filing. Return of capital generally reduces cost basis; amounts beyond basis can be taxable. IRS dividend guidance.
