Why do the ICON Funds pay distributions to shareholders?
A. As a regulated investment company under the Internal Revenue Code, ICON Funds must make distributions of net investment income and net realized capital gains to shareholders of record. Dividends and distributions to shareholders are recorded by the Funds on the ex-dividend/distribution date. The ex-dividend date is the day on which declared distributions (dividends or capital gains) are deducted from a Fund’s assets before it calculates its daily net asset value. On the ex-dividend date, a Fund’s NAV per share drops by the amount of the per-share distribution plus market activity that day. The Funds distribute net realized capital gains, if any, to shareholders at least annually, if not offset by capital loss carryovers.
