Yep, you have to remember this is a micro-cap specialist! When...

Yep, you have to remember this is a micro-cap specialist! When they have good years, they have super good years. A few years back they reported a profit of over $20 million, enough for a few years of dividends. Last year, due to the market crash in June, they reported a very small loss (would have been a profit, but June smashed them).

ALF were similar, they had dividend reserves to pay the recent dividend. It is common for good LICs to have reserves for dividends, and then make more when the market returns. You can see their dividend record, they have nearly returned 80 cents to shareholders over past decade!

Given their recent rise in NTA, during a falling market, the dividend should be a good one again, and the market will like this, and I hope a rise back above $1. IMO