Delaware Investments® Dividend and Income Fund, Inc. Announces Bylaw Amendments
17 January 2019 - 10:11AM
Business Wire
Delaware Investments Dividend and Income Fund, Inc. (the
“Fund”), a New York Stock Exchange–listed closed-end fund trading
under the symbol “DDF,” announced today that its Board has approved
changes to the Fund’s Bylaws designed to allow for the more orderly
conduct of shareholder meetings. The Fund’s Bylaws have been
amended to provide as follows:
- For nominations or a proposal to be
properly brought before an annual meeting by a proponent: (i) the
proponent must have given a timely shareholder notice in writing to
the Secretary of the Fund at the principal executive offices of the
Fund; and (ii) the proponent or its representative must attend the
annual meeting in person and present the nominations or the
proposal to be considered. To be timely, a shareholder notice must
be made in writing and received by the Secretary of the Fund by
close of business not more than 150 days and not less than 120 days
before the first anniversary of the date that the Fund’s proxy
statement was released to Shareholders in connection with the
previous year’s annual meeting.
- Special meetings of shareholders may be
called by the Board, and also upon the written request of the
holders of at least a majority of the shares entitled to vote at
such meeting. A written request from shareholders entitled to call
a special meeting must state the purpose of the meeting and the
matters proposed to be acted on at the meeting. To be properly
brought before a special meeting of shareholders, business must be
specified in the notice of meeting.
- A proponent representative must be either
(i) a duly authorized officer, manager or partner of the proponent,
as evidenced by an incumbency certificate delivered to the acting
Secretary at the meeting, or (ii) authorized by a writing executed
by the proponent to act as proxy for the proponent at the meeting,
and delivered to the acting Secretary at the meeting.
The Fund’s Bylaws contain other requirements for the conduct of
shareholder meetings and are available in their entirety upon
request to the Fund’s Secretary, c/o Delaware Management Company,
2005 Market Street, Philadelphia, PA 19103.
As a result of the amendments to the Fund’s Bylaws, the
deadlines for shareholder proposals for the Fund’s 2019 Annual
Meeting of Shareholders have changed from the deadlines included in
the proxy statement related to the Fund’s 2018 Annual Meeting of
Shareholders under the section entitled “Shareholder Proposals.” In
accordance with the Fund’s Bylaws, as amended, the relevant
deadlines for the Fund’s 2019 Annual Meeting of Shareholders are as
follows:
For the Fund’s annual meeting of shareholders
in 2019, shareholder proposals and Board nominations must be
received no earlier than February 3, 2019 and no later than March
5, 2019. Such proposals and nominations should be sent to the Fund,
directed to the attention of its Secretary, at the address of its
principal executive office c/o Delaware Management Company, 2005
Market Street, Philadelphia, PA 19103. The inclusion and/or
presentation of any such proposal or nominee is subject to the
applicable requirements of the proxy rules under the Securities
Exchange Act of 1934, other applicable law and the Fund’s governing
instruments. The persons designated as proxies will vote in their
discretion on any matter if the Fund does not receive notice of
such matter prior to May 17, 2019.
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, which may
include up to 25% in real estate investment trusts (REITs) and real
estate industry operating companies. 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. In addition,
the Fund utilizes leveraging techniques in an attempt to obtain a
higher return for the Fund. There is no assurance that the Fund
will achieve its investment objectives.
About Macquarie Investment Management
Macquarie Investment Management, a member of Macquarie Group,
includes the former Delaware Investments and is a global asset
manager with offices throughout the United States, Europe, Asia,
and Australia. As active managers, we prioritize autonomy and
accountability at the team level in pursuit of opportunities that
matter for clients. Macquarie Investment Management is supported by
the resources of Macquarie Group (ASX: MQG; ADR: MQBKY), a global
provider of asset management, investment, banking, financial and
advisory services.
Advisory services are provided by Macquarie Investment
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 Funds® by Macquarie, visit delawarefunds.com or call 800
523-1918.
Other than Macquarie Bank Limited (MBL), none of the entities
referred to in this document are authorized deposit-taking
institutions for the purposes of the Banking Act 1959 (Commonwealth
of Australia). The obligations of these entities do not represent
deposits or other liabilities of MBL, a subsidiary of Macquarie
Group Limited and an affiliate of Macquarie Investment Management.
MBL does not guarantee or otherwise provide assurance in respect of
the obligations of these entities, unless noted otherwise.
© 2019 Macquarie Management Holdings, Inc.
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Media contactsDaniela Palmieri215 255-8878
Jessica Fitzgerald215 255-1336
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