PHILADELPHIA CREAM–(BUSINESS WIRE)–Today, Delaware Enhanced Global Dividend and Income Fund (the “Fund”), a closed-end fund listed on the New York Stock Exchange and trading under the symbol “DEX”, declared a monthly distribution of 0, $0519 per share. The monthly distribution is payable on September 30, 2022 to shareholders of record at the close of business on September 23, 2022. The ex-dividend date will be September 22, 2022.
The Fund is a diversified closed-end fund. The primary investment objective of the Fund is to seek current income, with a secondary objective of capital appreciation. Under normal market conditions, the Fund globally invests at least 80% of its assets in a combination of dividend-paying or income-generating securities across multiple asset classes, including but not limited to : equity securities of large, well-established companies; securities issued by real estate companies (including real estate investment trusts and real estate operating companies); debt securities (such as government bonds; high-quality, high-risk, high-yield corporate bonds; and convertible bonds); and emerging market securities. The Fund also employs enhanced income strategies by engaging in dividend capture transactions; option overwrite; and the realization of gains on the sale of securities, dividend growth and forward exchange contracts. There can be no assurance that the Fund will achieve its investment objectives.
Under normal market conditions, the Fund will invest: (1) no more than 60% of its net assets in securities of US issuers; (2) at least 40% of its net assets in securities of non-US issuers, unless market conditions are deemed unfavorable by the Manager, in which case the Fund would invest at least 30% of its net assets in securities of non-US issuers. – US issuers; and (3) up to 25% of its net assets in securities issued by real estate companies (including REITs and real estate operating companies). In addition, the Fund uses leverage techniques with the aim of obtaining a higher return for the Fund.
The Fund has implemented a managed distribution policy. Under the policy, the Fund is managed with the objective of generating as many distributions 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 applicable, return of capital. A return of capital may occur, for example, when some or all of the money you have invested in the Fund is returned to you. A return of capital distribution does not necessarily reflect the performance of the Fund’s investments and should not be confused with “yield” or “income”. Although the Fund may realize capital gains for the current year, these gains may be offset, in whole or in part, by the Fund’s capital loss carryforwards from previous years.
Under the Fund’s managed distribution policy, the Fund pays monthly distributions to common shareholders at a target annual distribution rate of 7.0% of the Fund’s average net asset value (“NAV”) per share. The Fund will calculate the average net asset value per share for the three full months immediately preceding the distribution based on the number of business days in those three months on which the net asset value is calculated. The distribution will be calculated as 7.0% of the previous three months’ average net asset value per share, divided by 12. The Fund will generally distribute amounts necessary to satisfy the Fund’s managed distribution policy and the requirements prescribed by the rules on excise tax and sub-chapter M of the Internal Revenue Code. This distribution methodology is intended to provide shareholders with a constant, but not guaranteed, stream of income and a target annual distribution rate and is intended to reduce any discount between the market price and the net asset value of the common shares of the Fund, but nothing guarantees that the policy will succeed in doing so. The method of determining monthly distributions under the Fund’s Managed Distribution Policy will be reviewed at least annually by the Board of Trustees of the Fund, and the Fund will continue to assess its distribution in light of market conditions. In progress.
You should not draw any inference about the Fund’s investment performance from the amount of such distribution or the terms of the Fund’s managed distribution policy. The amounts and sources of reportable Fund distributions will be estimates and will not be provided for tax reporting purposes. Actual amounts and sources of amounts for tax reporting purposes will depend on the Fund’s investment experience over the remainder of its financial year and may be subject to change as a result of tax regulations. The Fund will send you a Form 1099-DIV for the calendar year which will tell you how to report these distributions for federal income tax purposes.
About Macquarie Asset Management
Macquarie Asset Management is a global asset manager that aims to deliver positive impact to everyone. Recognized by institutions, pension funds, governments and individuals for managing over $534 billion in assets worldwide,1 we provide access to specialist investment expertise across a range of capabilities, including infrastructure, green investments and renewable energy, real estate, agriculture and natural assets, asset finance, private credit, equities, fixed income and multi-asset solutions.
Advisory services are provided by Delaware Management Company, a series of Macquarie Investment Management Business Trust, a registered investment adviser. Macquarie Asset Management is part of Macquarie Group, a diversified financial group providing clients with asset management, financing, banking, advisory and risk and capital solutions for debt, equities and commodities. Founded in 1969, Macquarie Group employs approximately 18,000 people in 33 markets and is listed on the Australian Securities Exchange. For more information on Macquarie’s Delaware Funds®visit delawarefunds.com or call 800 523-1918.
With the exception of Macquarie Bank Limited ABN 46 008 583 542 (“Macquarie Bank”), any Macquarie group entity listed herein is not an authorized depository institution for the purposes of the Banking Act 1959 (Commonwealth of Australia). The obligations of these other Macquarie group entities do not represent deposits or other liabilities of Macquarie Bank. Macquarie Bank does not guarantee or provide any other assurance with respect to the obligations of such other Macquarie group entities. In addition, if this document relates to an investment, (a) the investor is subject to investment risk, including delays in repayment and loss of income and invested capital and (b) none of Macquarie Bank or any other entity within the Macquarie group does not guarantee any rate of return or return on the investment, nor guarantee the return of capital on the investment.
1 As of March 31, 2022
© 2022 Macquarie Management Holdings, Inc.