Ellsworth Growth and Income Fund Ltd. Reaffirms Its 5% Minimum Distribution Policy and Declares Distribution, Payable on June 23, 2020
May 14, 2020 at 08:55 am EDT
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The Board of Trustees of Ellsworth Growth and Income Fund Ltd. declared a $0.13 per share cash distribution payable on June 23, 2020 to common shareholders of record on June 16, 2020. The Fund intends to pay the greater of either an annual distribution of 5% of funds trailing 12-month average month-end market price or an amount that meets the minimum distribution requirement of the Internal Revenue Code for regulated investment companies. Each quarter, the Board of Trustees reviews the amount of any potential distribution from the income, realized capital gain, or capital available.
Ellsworth Growth and Income Fund Ltd. is a diversified closed-end, diversified management investment company. The Fundâs primary investment objective is to provide income and the potential for capital appreciation, which objectives the Fund considers to be relatively equal over the long term due to the nature of the securities in which it invests. The Fund invests primarily in convertible and equity securities. The Fund's portfolio includes sectors, such as healthcare, financial services, computer software and services, energy and utilities, real estate investment trusts, semiconductors, telecommunications, business services, diversified industrial, food and beverage, communications equipment, consumer products, transportation, consumer services, cable and satellite, computer hardware, automotive, wireless communications, agriculture and entertainment. Gabelli Funds, LLC is the investment advisor of the Fund.