Today, Delaware Investments Dividend and Income Fund, Inc. (NYSE:DDF)
(the "Fund") announced that Christopher M. Testa has been appointed as a
portfolio manager for the Fund. Mr. Testa joins Babak Zenouzi, Damon J.
Andres, D. Tysen Nutt Jr., Anthony A. Lombardi, Robert A. Vogel Jr.,
Nikhil G. Lalvani, Kristen E. Bartholdson, Wayne A. Anglace, Roger A.
Early, Thomas H. Chow, Paul A. Matlack, Craig C. Dembek, and John P.
McCarthy in making day-to-day investment decisions for the Fund.
Christopher M. Testa, CFA, senior vice president, senior portfolio
manager, joined Delaware Investments in January 2014 as a senior
portfolio manager in the firmís corporate credit portfolio management
group. He helps manage both investment grade and high yield corporate
credit. Prior to joining the firm, Testa worked as a portfolio manager
who focused on high yield credit at S. Goldman Asset Management from
2009 to 2012 and Princeton Advisory Group from 2012 to 2013. From 2001
to 2009, he served as head of U.S. credit at Drake Management, and prior
to that he was head of credit research and a high yield portfolio
manager at Goldman Sachs Asset Management. Testa has more than 20 years
of experience analyzing and investing in high yield and distressed
credit. He earned his bachelorís degree in economics, with a minor in
government, from Hamilton College, and an MBA in finance with a
concentration in investments from The Wharton School of the University
The Fund is a diversified, closed-end fund. The Fundís 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. Up to 35% of the Fundís total
assets may be invested in nonconvertible debt securities consisting
primarily of high yield, high risk corporate bonds.
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.
About Delaware Investments
Delaware Investments, a member of Macquarie Group, is a global asset
management firm that offers a wide variety of equity and fixed income
solutions for individual and institutional 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. Visit delawareinvestments.com for more
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 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
© 2014 Delaware Management Holdings, Inc.
Marlene Petter or Amy
Paula Chirhart, 212-231-1310
Source: Delaware Investments Dividend and Income Fund, Inc.