Delaware Investments Dividend and Income Fund, Inc., Delaware Investments Global Dividend and Income Fund, Inc., and Delaware En
30 October 2008 - 8:23AM
PR Newswire (US)
PHILADELPHIA, Oct. 29 /PRNewswire-FirstCall/ -- Recently, Delaware
Investments Dividend and Income Fund, Inc. (NYSE:DDF), Delaware
Investments Global Dividend and Income Fund, Inc. (NYSE:DGF), and
Delaware Enhanced Global Dividend and Income Fund (NYSE:DEX)
("DDF," "DGF," and "DEX" are the "Funds"), each a closed-end
investment company managed by Delaware Management Company, a series
of Delaware Management Business Trust, entered into Credit
Agreements with The Bank of New York Mellon (each, a "Credit
Agreement"). The Credit Agreements are revolving credit facilities
that permit the Funds' portfolio managers to increase and decrease
the amounts borrowed pursuant to the Credit Agreements, and to
invest such borrowed amounts pursuant to each Fund's investment
objectives and strategies. Due to the unprecedented volatility in
the securities markets, DDF and DGF reduced their outstanding
borrowings so that each Fund could meet the asset coverage
requirements set forth in the Credit Agreements and the Investment
Company Act of 1940, as amended. Accordingly, DDF reduced its
borrowings from approximately $44 million to $28.2 million as of
October 27, 2008, and DGF reduced its borrowings from $23 million
to approximately $15 million as of October 27, 2008. As of the same
date, there was no change to the outstanding borrowings for DEX,
which remained at $40 million. Depending on market conditions, the
amounts borrowed by the Funds pursuant to the Credit Agreements may
be reduced (further in the case of DDF and DGF) or possibly
increased in the future. The Funds provide information on the
amounts borrowed pursuant to the Credit Agreements in their
periodic shareholder reports and quarterly filings on Form N-Q.
Delaware Investments Dividend and Income Fund, Inc. Delaware
Investments Dividend and Income Fund, Inc. is a diversified,
closed-end fund that trades under the symbol "DDF" on the New York
Stock Exchange. The Fund's primary investment objective is to seek
to provide high current income. Capital appreciation is a secondary
objective of the Fund. There is no assurance that the Fund will
achieve its investment objective. Delaware Investments Global
Dividend and Income Fund, Inc. Delaware Investments Global Dividend
and Income Fund, Inc. is a diversified, closed-end fund that trades
under the symbol "DGF" on the New York Stock Exchange. The Fund's
primary investment objective is to seek to provide high current
income. Capital appreciation is a secondary objective of the Fund.
There is no assurance that the Fund will achieve its investment
objective. Delaware Investments Enhanced Global Dividend and Income
Fund Delaware Enhanced Global Dividend and Income Fund is a
diversified, closed-end fund that trades under the symbol "DEX" on
the New York Stock Exchange. The Fund's primary objective is to
seek current income, with a secondary objective of capital
appreciation. There is no assurance that the Fund will achieve its
investment objective. About Delaware Investments: Delaware
Investments, an affiliate of Lincoln Financial Group, is a
Philadelphia-based diversified asset management firm with more than
$125 billion in assets under management as of September 30, 2008.
Through a broad range of managed accounts and portfolios, mutual
funds, retirement accounts, sub-advised funds, and other investment
products, Delaware Investments provides investment services to
individual investors and to institutional investors such as private
and public pension funds, foundations, and endowment funds.
Delaware Investments is the marketing name for Delaware Management
Holdings, Inc. and its subsidiaries. For more information on
Delaware Investments, visit the company at
http://www.delawareinvestments.com/. Lincoln Financial Group is the
marketing name for Lincoln National Corporation (NYSE:LNC) and its
affiliates. For more information on Lincoln Financial Group, visit
http://www.lincolnfinancial.com/. DATASOURCE: Delaware Investments
CONTACT: Ayele Ajavon, +1-215-255-1632, , or Christopher Allen,
+1-215-255-1520, , both Corporate Communications of Delaware
Investments Web site: http://www.delawareinvestments.com/
http://www.lincolnfinancial.com/
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