Delaware Investments Dividend and Income Fund, Inc. (NYSE:DDF) (the
“Fund”), a closed-end management investment company, today announced the
preliminary results of its tender offer for up to 471,952 shares of its
common stock, representing up to five percent of its issued and
outstanding shares of common stock. The offer expired at 11:59 p.m., New
York City time, on Friday, June 27, 2014. Based on current information,
approximately 1,426,835.0970 shares of common stock, or approximately
15.1163% percent of the Fund’s common stock outstanding, were tendered
through the expiration date. This total does not include shares tendered
pursuant to notices of guaranteed delivery. Because the number of shares
exceeded 471,952 shares, the relative number of shares that will be
purchased from each shareholder will be prorated based on the number of
shares properly tendered. The final number of shares validly tendered
and accepted pursuant to the tender offer will be announced at a later
date. The Fund expects to make cash payments for tendered and accepted
shares at a price equal to the Fund’s net asset value (“NAV”) as of the
close of regular trading on the New York Stock Exchange on June 30,
2014. Payment for shares tendered and accepted is expected to be sent to
tendering shareholders within approximately ten business days after the
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. 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.
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.
The offer to purchase and other documents filed by the Fund with the
Securities and Exchange Commission, including the Fund’s annual report
for the fiscal year ended November 30, 2013, are available without cost
at the Commission’s web site (www.sec.gov)
or by calling the Fund at 800 523-1918.
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.