PHILADELPHIA–(BUSINESS WIRE)–As we speak, Delaware Investments Dividend and Earnings Fund (the “Fund”), a New York Inventory Alternate–listed closed-end fund buying and selling beneath the image “DDF,” declared a month-to-month distribution of $0.0637 per share. The month-to-month distribution is payable April 30, 2021 to shareholders of file on the shut of enterprise on April 23, 2021. The ex-dividend date will probably be April 22, 2021.
The Fund is a diversified closed-end fund. The first funding goal is to hunt excessive present earnings; capital appreciation is a secondary goal. The Fund seeks to attain its aims by investing, beneath regular circumstances, at the least 65% of its complete property in income-generating fairness securities, together with dividend-paying widespread shares, convertible securities, most popular shares, and different equity-related securities, which can embody as much as 25% in actual property funding trusts (REITs) and actual property business working corporations. As much as 35% of the Fund’s complete property could also be invested in nonconvertible debt securities consisting primarily of high-yield, high-risk company bonds. As well as, the Fund makes use of leveraging methods in an try and acquire a better return for the Fund. There is no such thing as a assurance that the Fund will obtain its funding aims.
The Fund has carried out a managed distribution coverage. Below the coverage, the Fund is managed with a purpose of producing as a lot of the distribution as doable from internet funding earnings and short-term capital good points. The stability of the distribution will then come from long-term capital good points to the extent permitted, and if needed, a return of capital. A return of capital could happen for instance, when some or all the cash that you simply invested within the Fund is paid again to you. A return of capital distribution doesn’t essentially mirror the Fund’s funding efficiency and shouldn’t be confused with ‘yield’ or ‘earnings’. Regardless that the Fund could notice present yr capital good points, such good points could also be offset, in complete or partly, by the Fund’s capital loss carryovers from prior years.
Below the Fund’s managed distribution coverage, the Fund makes month-to-month distributions to widespread shareholders at a focused annual distribution price of seven.5% of the Fund’s common internet asset worth (“NAV”) per share. The Fund will calculate the typical NAV per share from the earlier three full months instantly previous to the distribution based mostly on the variety of enterprise days in these three months on which the NAV is calculated. The distribution will probably be calculated as 7.5% of the prior three month’s common NAV per share, divided by 12. The Fund will typically distribute quantities essential to fulfill the Fund’s managed distribution coverage and the necessities prescribed by excise tax guidelines and Subchapter M of the Inside Income Code. This distribution methodology is meant to supply shareholders with a constant, however not assured, earnings stream and a focused annual distribution price and is meant to slender any low cost between the market worth and the NAV of the Fund’s widespread shares, however there isn’t any assurance that the coverage will probably be profitable in doing so. The methodology for figuring out month-to-month distributions beneath the Fund’s managed distribution coverage will probably be reviewed at the least yearly by the Fund’s Board of Trustees, and the Fund will proceed to judge its distribution in mild of ongoing market situations.
You shouldn’t draw any conclusions concerning the Fund’s funding efficiency from the quantity of this distribution or from the phrases of the Fund’s managed distribution coverage. The quantities and sources of the Fund’s distributions to be reported will probably be estimates and won’t be offered for tax reporting functions. The precise quantities and sources of the quantities for tax reporting functions will depend on the Fund’s funding expertise through the the rest of its fiscal yr and could also be topic to modifications based mostly on tax rules. The Fund will ship you a Type 1099-DIV for the calendar yr that may let you know the right way to report these distributions for federal earnings tax functions.
About Macquarie Funding Administration
Macquarie Funding Administration, a member of Macquarie Group, is a world asset supervisor with places of work in the US, Europe, Asia, and Australia. As energetic managers, we prioritize autonomy and accountability on the group degree in pursuit of alternatives that matter for purchasers. Macquarie Funding Administration is supported by the assets of Macquarie Group (ASX: MQG; ADR: MQBKY), a world supplier of asset administration, funding, banking, monetary and advisory companies.
Advisory companies are offered by Macquarie Funding Administration Enterprise Belief, a registered funding advisor. Macquarie Group refers to Macquarie Group Restricted and its subsidiaries and associates worldwide. For extra details about Delaware Funds® by Macquarie, go to delawarefunds.com or name 800 523-1918.
Aside from Macquarie Financial institution Restricted (MBL), not one of the entities referred to on this doc are approved deposit-taking establishments for the needs of the Banking Act 1959 (Commonwealth of Australia). The obligations of those entities don’t characterize deposits or different liabilities of MBL, a subsidiary of Macquarie Group Restricted and an affiliate of Macquarie Funding Administration. MBL doesn’t assure or in any other case present assurance in respect of the obligations of those entities, except famous in any other case.
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