Delaware Investments® Global Dividend and Income Fund, Inc. Announces Final Results of Tender Offer
July 08 2011 - 11:41AM
Business Wire
Delaware Investments Global Dividend and Income Fund, Inc.
(NYSE: DGF) (the "Fund"), a closed-end management investment
company, today announced the final results of its tender offer for
up to 246,552.0000 shares of its common stock representing up to 5
percent of its issued and outstanding shares of common stock. The
offer expired at 11:59 p.m., New York City time, on Friday, July 1,
2011.
Based on a count by Mellon Investor Services, LLC, the
depositary for the tender offer, approximately 141,142.0000 shares
of common stock, or approximately 2.8623 percent of the Fund's
common stock outstanding, were tendered, and 141,142.0000 shares
have been accepted for cash payment at a price equal to $7.71, the
Fund's net asset value per share as of the close of regular trading
on the New York Stock Exchange on July 1, 2011. Following the
purchase of the tendered shares, the Fund will have approximately
4,789,888.6070 shares of common stock outstanding.
The Fund is a diversified, closed-end fund. The Fund’s 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
50% of its total assets in income-generating equity securities,
including dividend-paying common stocks, convertible securities,
preferred stocks, and other equity-related securities of U.S. and
foreign issuers. Up to 50% of the Fund’s total assets may be
invested in nonconvertible debt securities consisting primarily of
government and high yield, high risk corporate bonds of U.S. and
foreign issuers.
Under normal market conditions, the Fund will invest: (1) at
least 50% of its total assets in securities of U.S. issuers; and
(2) at least 40% of its assets (including leveraged assets) in
securities of non-U.S. issuers, unless market conditions are not
deemed favorable by the Manager, in which case the Fund would
invest at least 30% of its assets (including leveraged assets) in
securities of non-U.S. issuers. The Fund may not, however, invest
more than 50% of its total assets in the securities of any
developed or emerging markets foreign country.
The Fund utilizes leveraging techniques in an attempt to obtain
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. 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.
For federal income tax purposes, the effect of such capital loss
carryovers may be to convert (to the extent of such current year
gains) what would otherwise be returns of capital into
distributions taxable as ordinary income. This tax effect can occur
during times of extended market volatility. The actual
determination of the source of the Fund’s distributions can be made
only at year-end. Shareholders should receive written notification
regarding the actual components and tax treatments of all Fund
distributions for the calendar year 2011 in early 2012.
About Delaware Investments
Delaware Investments, a member of Macquarie Group, is a
U.S.-based diversified asset management firm with more than $150
billion in assets under management (as of March 31, 2011). Through
a team of talented investment professionals, the firm manages
assets across all major asset classes for a wide range of
institutional and individual investors. Delaware Investments is
supported by the resources of Macquarie Group (ASX: MQG; ADR:
MQBKY), a global provider of asset management, investment, banking,
financial and advisory services with approximately US $321 billion
in assets under management as of March 31, 2011.
Delaware Investments is the marketing name for Delaware
Management Holdings, Inc. and its subsidiaries. Advisory services
provided by Delaware 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 Investments, visit
www.delawareinvestments.com or call 800 523-1918.
Investments in the Fund are not and will not be deposits with or
liabilities of Macquarie Bank Limited ABN 46 008 583 542 and its
holding companies, including their subsidiaries or related
companies (the "Macquarie Group"), and are subject to investment
risk, including possible delays in repayment and loss of income and
capital invested. No Macquarie Group company guarantees or will
guarantee the performance of the Fund, the repayment of capital
from the Fund, or any particular rate of return.
© 2011 Delaware Management Holdings, Inc.
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