PHILADELPHIA–(BUSINESS WIRE)–Today, Delaware Investments Dividend and Income Fund, Inc. (the “Fund”),
a New York Stock Exchange–listed closed-end fund trading under the
symbol “DDF,” declares a monthly distribution of $0.0918 per share. The
monthly distribution is payable June 28, 2019 to shareholders of record
at the close of business on June 21, 2019. The ex-dividend date will be
June 20, 2019.
The Fund is a diversified closed-end fund. The primary investment
objective is to seek high current income; capital appreciation is a
secondary objective. The Fund seeks to achieve its objectives by
investing, under normal circumstances, at least 65% of its total assets
in income-generating equity securities, including dividend-paying common
stocks, convertible securities, preferred stocks, and other
equity-related securities, which may include up to 25% in real estate
investment trusts (REITs) and real estate industry operating companies.
Up to 35% of the Fund’s total assets may be invested in nonconvertible
debt securities consisting primarily of high-yield, high-risk corporate
bonds. In addition, the Fund utilizes leveraging techniques in an
attempt to obtain a higher return for the Fund. There is no assurance
that the Fund will achieve its investment objectives.
The Fund has implemented a managed distribution policy. Under the
policy, the Fund is managed with a goal of generating as much of the
distribution as possible from net investment income and short-term
capital gains. The balance of the distribution will then come from
long-term capital gains to the extent permitted, and if necessary, a
return of capital. A return of capital may occur for example, when some
or all of the money that you invested in the Fund is paid back to you. A
return of capital distribution does not necessarily reflect the Fund’s
investment performance and should not be confused with ‘yield’ or
‘income’. Even though the Fund may realize current year capital gains,
such gains may be offset, in whole or in part, by the Fund’s capital
loss carryovers from prior years.
Currently under the Fund’s managed distribution policy, the Fund makes
monthly distributions to common shareholders at a targeted annual
distribution rate of 10% of the Fund’s average net asset value (“NAV”)
per share. The Fund will calculate the average NAV per share from the
previous three full months immediately prior to the distribution based
on the number of business days in those three months on which the NAV is
calculated. The distribution will be calculated as 10% of the prior
three month’s average NAV per share, divided by 12. The Fund will
generally distribute amounts necessary to satisfy the Fund’s managed
distribution policy and the requirements prescribed by excise tax rules
and Subchapter M of the Internal Revenue Code. This distribution
methodology is intended to provide shareholders with a consistent, but
not guaranteed, income stream and a targeted annual distribution rate
and is intended to narrow any discount between the market price and the
NAV of the Fund’s common shares, but there is no assurance that the
policy will be successful in doing so. The methodology for determining
monthly distributions under the Fund’s managed distribution policy will
be reviewed at least annually by the Fund’s Board of Trustees, and the
Fund will continue to evaluate its distribution in light of ongoing
market conditions.
You should not draw any conclusions about the Fund’s investment
performance from the amount of this distribution or from the terms of
the Fund’s managed distribution policy. The amounts and sources of the
Fund’s distributions to be reported will be estimates and will not be
provided for tax reporting purposes. The actual amounts and sources of
the amounts for tax reporting purposes will depend upon the Fund’s
investment experience during the remainder of its fiscal year and may be
subject to changes based on tax regulations. The Fund will send you a
Form 1099-DIV for the calendar year that will tell you how to report
these distributions for federal income tax purposes.
About Macquarie Investment Management
Macquarie Investment Management, a member of Macquarie Group, includes
the former Delaware Investments and is a global asset manager with
offices throughout the United States, Europe, Asia, and Australia. As
active managers, we prioritize autonomy and accountability at the team
level in pursuit of opportunities that matter for clients. Macquarie
Investment Management is supported by the resources of Macquarie Group
(ASX: MQG; ADR: MQBKY), a global provider of asset management,
investment, banking, financial and advisory services.
Advisory services are provided by Macquarie Investment Management
Business Trust, a registered investment advisor. Macquarie Group refers
to Macquarie Group Limited and its subsidiaries and affiliates
worldwide. For more information about Delaware Funds® by
Macquarie, visit delawarefunds.com or call 800 523-1918.
Other than Macquarie Bank Limited (MBL), none of the entities referred
to in this document are authorized deposit-taking institutions for the
purposes of the Banking Act 1959 (Commonwealth of Australia). The
obligations of these entities do not represent deposits or other
liabilities of MBL, a subsidiary of Macquarie Group Limited and an
affiliate of Macquarie Investment Management. MBL does not guarantee or
otherwise provide assurance in respect of the obligations of these
entities, unless noted otherwise.
© 2019 Macquarie Management Holdings, Inc.
Contacts
Investors
Computershare
866 437-0252
delawarefunds.com/closed-end
Media contacts
Daniela Palmieri
215 255-8878
Jessica Fitzgerald
215 255-1336
