The New Germany Fund, Inc. (NYSE:GF) to Issue Dividend Increase – $0.15 Per Share

The New Germany Fund, Inc. (NYSE:GF) declared a dividend on Monday, May 11th. Stockholders of record on Tuesday, May 26th will be paid a dividend of 0.154 per share by the investment management company on Monday, June 29th. This represents a dividend yield of 257.0%. The ex-dividend date of this dividend is Tuesday, May 26th. This is a 18.6% increase from The New Germany Fund’s previous dividend of $0.13.

The New Germany Fund Trading Down 1.0%

Shares of NYSE:GF opened at $11.98 on Tuesday. The New Germany Fund has a 12-month low of $9.98 and a 12-month high of $12.82. The business’s fifty day simple moving average is $11.18 and its 200-day simple moving average is $11.37.

Institutional Trading of The New Germany Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bulldog Investors LLP lifted its position in The New Germany Fund by 6.1% during the 1st quarter. Bulldog Investors LLP now owns 532,074 shares of the investment management company’s stock worth $5,438,000 after acquiring an additional 30,817 shares during the period. Saba Capital Management L.P. lifted its position in The New Germany Fund by 13.1% during the 4th quarter. Saba Capital Management L.P. now owns 2,210,555 shares of the investment management company’s stock worth $25,245,000 after acquiring an additional 256,443 shares during the period. Lazard Asset Management LLC lifted its position in The New Germany Fund by 3.0% during the 2nd quarter. Lazard Asset Management LLC now owns 2,367,413 shares of the investment management company’s stock worth $28,266,000 after acquiring an additional 69,916 shares during the period. Allspring Global Investments Holdings LLC lifted its position in The New Germany Fund by 0.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,141,916 shares of the investment management company’s stock worth $24,461,000 after acquiring an additional 7,587 shares during the period. Finally, Royal Bank of Canada lifted its position in The New Germany Fund by 1.1% during the 1st quarter. Royal Bank of Canada now owns 93,573 shares of the investment management company’s stock worth $918,000 after acquiring an additional 1,018 shares during the period.

About The New Germany Fund

The New Germany Fund, Inc (NYSE: GF) is a closed-end management investment company that offers U.S. investors targeted exposure to German equities. The fund seeks long-term total return through a combination of capital appreciation and income by investing primarily in a diversified portfolio of securities tied to the German economy.

The fund’s holdings typically include common stocks of German companies alongside American and European depositary receipts for issuers headquartered in or deriving a substantial portion of their revenues from Germany.