FRANCE GROWTH FUND DECLARES DIVIDEND
FRANCE GROWTH FUND DECLARES DIVIDEND NEW YORK, Dec. 3 /PRNewswire/ -- The France Growth Fund, Inc.
(NYSE: FRF) announced today that its board of directors has declared a dividend of $0.1373 per share from net investment income to holders of record as of Dec. 13, 1991, and payable on Jan. 10, 1992. A dividend of $0.103 per share was paid to stockholders on June 7, 1991, representing net foreign exchange gains earned during the year.
Under the fund's dividend reinvestment plan, the dividend payable to stockholders whose shares are registered in their own names will automatically be reinvested in additional shares of the fund, unless stockholders have elected to receive their dividend in cash by notifying Provident National Bank, dividend agent for the fund, in writing at least 30 days prior to the dividend-payment date, that they wish to withdraw from the plan. As of Nov. 29, 1991, the fund had net assets of $117.2 million, with approximately 85.7 percent invested in French equities (including common stock, warrants, convertible bonds, and other equity-linked securities) and 7.5 percent in French bonds. Other assets in excess of liabilities accounted for the remaining 6.8 percent. As of Nov. 29, 1991, the fund's ten largest common stock investments were in: Alcatel Alsthom, BSN, Saint-Gobain, Pechiney, Elf Aquitaine, L'Oreal, Bon Marche, LVMH, Societe Generale, and Credit Foncier de France. The France Growth Fund, Inc., is a diversified, closed-end management investment company whose objective is long-term capital appreciation through investment primarily in French equity securities. The France Growth Fund's Investment Adviser in Indosuez International Investment Services, a member of the Gartmore Indosuez Asset Management Group. The current net asset value per share is $10.18 and the closing market price today is $8,375. -0- 12/3/91 /CONTACT: Frederick J. Schmidt, treasurer of the France Growth Fund, 212-408-5671/ (FRF) CO: France Growth Fund, Inc. ST: New York IN: FIN SU: DIV
SM-KD -- NY097 -- 8942 12/03/91 17:34 EST
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|Date:||Dec 3, 1991|
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