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TWN CEF — The Taiwan Fund, Inc.
The Taiwan Fund, Inc. (TWN)
Updated November 6, 2026.
Verdict as of November 6, 2026 close
TWN's distribution is rated generally safe by the Dividend Vision Distribution Safety Score™ (61/100, medium confidence). It pays annual and its distribution rate is 8.26%. The latest total cash payment per current share, $6.20 with an ex-date of December 29, 2025, was 16.2% lower than the previous $7.40. It is not yet confirmed whether this is a cut to the regular payout or a one-off difference.
Sources: Nomura, Section 19a-1 notices, scoring methodology.
TWN is a CEF. Its distribution rate is 8.26%, its trailing-12-month yield is 8.26%. Dividend Vision Distribution Safety Score™ is 61/100 (Generally safe). Total return is 3891.6% over the past 39.9 years.
The Taiwan Fund, Inc. is a closed-end equity fund launched and managed by Nomura Asset Management that invests in publicly traded Taiwanese companies across diversified sectors, using fundamental analysis to select stocks and benchmarking against the TAIEX Total Return Index. The fund carries a current distribution rate in the mid-single digits and has been operating since 1986. It may appeal to investors seeking equity exposure to Taiwan's economy with regular income distributions.
TWN dividend yield and income
Price as of 2026-11-06.
The distribution rate (8.26%) has no calculation basis on file. Trailing-12-month yield (8.26%) is the last year of cash distributions by ex-date divided by the current price. The dividend amount is $6.20. The ex-dividend date is 12/29/2025. The payment date is 01/06/2026.
| Ex-date | Amount | Change from previous payment |
|---|---|---|
| 2025-12-29 | $6.2 | -16.2% Total cash (unclassified) |
| 2024-12-27 | $7.398 | 1592.9% Total cash (unclassified) |
| 2023-12-27 | $0.437 | 512.0% Total cash (unclassified) |
| 2023-03-22 | $0.0714 | -97.6% Total cash (unclassified) |
| 2021-12-27 | $2.923 | -11.7% Total cash (unclassified) |
| 2020-12-28 | $3.312 | 94.9% Total cash (unclassified) |
| 2019-12-27 | $1.699 | -0.5% Total cash (unclassified) |
| 2018-12-20 | $1.708 | 158.8% Total cash (unclassified) |
| 2017-12-28 | $0.66 | -74.9% Total cash (unclassified) |
| 2014-12-26 | $2.633 | 369.3% Total cash (unclassified) |
| 2011-12-28 | $0.561 | 592.6% Total cash (unclassified) |
| 2010-12-28 | $0.081 | 14.1% Total cash (unclassified) |
| 2009-12-29 | $0.071 | -58.2% Total cash (unclassified) |
| 2008-12-26 | $0.17 | -95.3% Total cash (unclassified) |
| 2007-12-20 | $3.618 | 6857.7% Total cash (unclassified) |
| 2005-12-27 | $0.052 | 70.8% Total cash (unclassified) |
| 2004-12-27 | $0.03044 | -84.8% Total cash (unclassified) |
| 2000-12-27 | $0.2 | 1900.0% Total cash (unclassified) |
| 1999-12-21 | $0.01 | -99.0% Total cash (unclassified) |
| 1998-12-21 | $1.01 | 10000.0% Total cash (unclassified) |
| 1998-04-28 | $0.01 | -99.8% Total cash (unclassified) |
| 1997-12-26 | $4.6 | 65614.3% Total cash (unclassified) |
| 1996-12-24 | $0.007 | -65.0% Total cash (unclassified) |
| 1996-01-02 | $0.02 | -20.0% Total cash (unclassified) |
| 1995-12-27 | $0.025 | 25.0% Total cash (unclassified) |
| 1995-01-31 | $0.02 | -86.7% Total cash (unclassified) |
| 1994-05-09 | $0.15 | 15.4% Total cash (unclassified) |
| 1993-11-29 | $0.13 | 8.3% Total cash (unclassified) |
| 1992-12-22 | $0.12 | -92.9% Total cash (unclassified) |
| 1990-06-07 | $1.69 | N/A |
| 1990-03-02 | $0.08 | N/A |
| 1990-01-29 | $14.75 | 73.5% Total cash (unclassified) |
| 1989-01-26 | $8.5 | 357.0% Total cash (unclassified) |
| 1988-03-09 | $1.86 | -23.8% Total cash (unclassified) |
| 1988-01-27 | $2.44 | — |
| 1988 total | $4.3 | — |
| 1989 total | $8.5 | 97.7% |
| 1990 total | $16.52 | 94.4% |
| 1992 total | $0.12 | -99.3% |
| 1993 total | $0.13 | 8.3% |
| 1994 total | $0.15 | 15.4% |
| 1995 total | $0.045 | -70.0% |
| 1996 total | $0.027 | -40.0% |
| 1997 total | $4.6 | 16937.0% |
| 1998 total | $1.02 | -77.8% |
| 1999 total | $0.01 | -99.0% |
| 2000 total | $0.2 | 1900.0% |
| 2004 total | $0.03044 | -84.8% |
| 2005 total | $0.052 | 70.8% |
| 2007 total | $3.618 | 6857.7% |
| 2008 total | $0.17 | -95.3% |
| 2009 total | $0.071 | -58.2% |
| 2010 total | $0.081 | 14.1% |
| 2011 total | $0.561 | 592.6% |
| 2014 total | $2.633 | 369.3% |
| 2017 total | $0.66 | -74.9% |
| 2018 total | $1.708 | 158.8% |
| 2019 total | $1.699 | -0.5% |
| 2020 total | $3.312 | 94.9% |
| 2021 total | $2.923 | -11.7% |
| 2023 total | $0.5084 | -82.6% |
| 2024 total | $7.398 | 1355.2% |
| 2025 total | $6.2 | -16.2% |
TWN dividend growth
Trailing-12-month distributions versus the preceding 12 months changed -16.2%. The 1Y row below uses this same adjacent TTM cash-window comparison. The deepest trailing-12-month payout decline in the past five years is -85.01%.
| Window | Change |
|---|---|
| 1Y | -16.2% |
| 5Y | 87.2% |
TWN holdings and sector exposure
The top 10 holdings are 55.7% of the fund.
| Ticker | Name | Weight |
|---|---|---|
| — | Taiwan Semiconductor Manufacturing Co Ltd | 22.14% |
| — | Global Unichip Corp | 4.87% |
| — | Asia Vital Components Co Ltd | 4.09% |
| — | eMemory Technology Inc | 4.06% |
| — | Alchip Technologies Ltd | 3.87% |
| — | Delta Electronics Inc | 3.87% |
| — | Gigabyte Technology Co Ltd | 3.40% |
| — | ASPEED Technology Inc | 3.34% |
| — | Nuvoton Technology Corp | 3.07% |
| — | Quanta Computer Inc | 2.98% |
To see how this fund's sectors add up across your own holdings, use True Exposure.
TWN performance
Total return is 3891.6% over the past 39.9 years. Over the past year its total return — price change plus distributions reinvested — is 46.4%. Its deepest 1-year drawdown was 30.8%.
| Window | Total return | CAGR |
|---|---|---|
| 1M | -30.3% | — |
| 3M | -16.9% | — |
| 6M | -23.3% | — |
| YTD | 38.6% | — |
| 1Y | 46.4% | — |
| 2Y CAGR | — | 47.30% |
| 3Y CAGR | — | 49.00% |
| 5Y CAGR | — | 23.80% |
| 10Y CAGR | — | 25.00% |
| Since inception 1986-12-23 · 39.9 years | 3891.6% | 9.70% |
TWN key facts
- Distribution Safety Score™
- 61 · Generally safe
- Safety-Adjusted Yield
- 5.04%
- Issuer
- Nomura
- Asset type
- CEF
- Asset class
- Equity
- Inception date
- 12/23/1986
- Distribution rate
- 8.26%
- Distribution frequency
- Annual
- Trailing yield
- 8.26%
- 5-year average yield
- 2.07
- Last close
- $75.10 (as of 2026-11-06)
- NAV
- $114.69
- Premium / discount
- Premium not shown · NAV date unknown
- Market cap
- $412,022,592
- Average volume
- 30,527
- Dividend
- $6.20
- Ex-dividend date
- 12/29/2025
- Payment date
- 01/06/2026
- Beta
- 1.597
Expense ratio and AUM unavailable in this published snapshot. Missing values do not mean zero or complete coverage.
How Dividend Vision calculates yield and returns
Distribution rate (8.26%) has no calculation basis on file. Issuer rates can use a different denominator and date, including ex-date NAV. Trailing-12-month yield (8.26%) is the sum of split-adjusted cash distributions with ex-dates in the last 12 months, divided by the published price. It lags a recent raise or cut. Total return uses split-adjusted close with distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date) from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is the security's total return, not your personal gain/loss.
Yield and safety methodology · Distribution rate methodology · Distribution Safety Score methodology
Sources and review
Primary sources: Nomura; prices and distributions from Dividend Vision, derived from vendor EOD data.
Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.
TWN risks and drawbacks
Payments are annual, so cash flow is lumpy versus a monthly fund. The deepest 1-year drawdown on record here is 30.8%.
Who may consider TWN — and who may not
It is a weaker fit for investors who need monthly cash flow (TWN pays annual). This is educational context, not a recommendation to buy or sell.
More on TWN
Frequently asked questions
Does TWN pay monthly?
No. TWN currently pays annual, not monthly.
What is TWN's dividend yield?
TWN's distribution rate is 8.26%, paid annual — no calculation basis on file.
How has TWN's dividend grown?
Trailing-12-month distributions versus the preceding 12 months changed -16.2%. That is the same adjacent TTM cash-window comparison used in the dividend-history table.
When does TWN pay a dividend?
TWN pays annual. The dividend amount is $6.20. The ex-dividend date is 12/29/2025. The payment date is 01/06/2026.
How has TWN performed?
Total return is 3891.6% over the past 39.9 years. Over the past year its total return — price change plus distributions reinvested — is 46.4%. Its deepest 1-year drawdown was 30.8%.
Is TWN a good investment?
TWN's Dividend Vision Distribution Safety Score is 61 (Generally safe). That is a risk signal, not investment advice. Its distribution rate is 8.26% (no calculation basis on file). Compare peers below rather than treating any single figure as a buy or sell.
More securities from Nomura.
Tickers
TWN's distribution is rated generally safe by the Dividend Vision Distribution Safety Score™ (61/100, medium confidence). It pays annual and its distribution rate is 8.26%. The latest total cash payment per current share, $6.20 with an ex-date of December 29, 2025, was 16.2% lower than the previous $7.40. It is not yet confirmed whether this is a cut to the regular payout or a one-off difference.
Sources: Nomura, Section 19a-1 notices, scoring methodology.
Holdings as-of date unavailable.
| Ticker | Name | Weight |
|---|
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