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Delaware Enhanced Global Dividend and Income Fund (DEX) announced the completion of its asset acquisition by abrdn Global Dynamic Dividend Fund (AGD) on March 10, 2023. This reorganization was approved by shareholders on December 12, 2022. As of the closing, the NAV per share for DEX was $8.7778, and the conversion ratio was 0.835659. Shareholders will receive cash for fractional shares and a Form 1099-DIV in early 2024 for reporting distributions. This tax-free transaction will result in DEX being delisted from the New York Stock Exchange and subsequently dissolved.
Delaware Enhanced Global Dividend and Income Fund (NYSE: DEX) announced a final distribution of $0.0509 per share due to its reorganization into the Global Dynamic Dividend Fund (AGD). This distribution will be payable on March 3, 2023, to shareholders of record as of February 24, 2023. The paid amount comprises the Fund's undistributed tax-exempt interest income and capital gains through March 10, 2023. The reorganization plan, approved by shareholders on December 12, 2022, involves transferring assets to AGD and will lead to the Fund's dissolution and delisting post-acquisition.
Delaware Enhanced Global Dividend and Income Fund (DEX) announced the results of its tender offer to buy back up to 3,186,291 common shares, which expired on February 10, 2023. Approximately 4,080,333 shares, or 38.42% of outstanding shares, were tendered, exceeding the offered amount. As a result, shares will be purchased on a prorated basis. Tendered shares are expected to be paid at 98% of the fund's net asset value (NAV) as of February 13, 2023. The fund aims for a 7% annual distribution rate, maintaining a focus on generating income through investments in dividend-paying securities.
Delaware Enhanced Global Dividend and Income Fund (DEX) announced final distributions related to its reorganization into Global Dynamic Dividend Fund (AGD). Shareholders of record on February 24, 2023, will receive a $0.0509 per share dividend, payable on March 3, 2023. The distributions comprise the Fund's undistributed tax-exempt interest income and capital gains earned up to March 10, 2023. This restructuring, approved on December 12, 2022, aims to consolidate assets and streamline operations. Following the acquisition's completion on or around March 10, 2023, DEX will be delisted from the NYSE.
Delaware Enhanced Global Dividend and Income Fund (DEX) held a Special Shareholder Meeting on December 12, 2022, where a majority approved the reorganization into abrdn Global Dynamic Dividend Fund (AGD). Of the 10,620,970 common shares, 51.97% voted, with 4,817,604 votes in favor. Additionally, DEX announced a self-tender offer for up to 30% of its shares, starting January 12, 2023, and expiring February 10, 2023, at 98% of the Fund's net asset value. This move aims to address trading at a discount to net asset value, enhancing shareholder value.
The Delaware Enhanced Global Dividend and Income Fund (DEX) has declared a monthly distribution of $0.0480 per share, payable on December 30, 2022, to shareholders of record as of December 22, 2022. The ex-dividend date is December 21, 2022. The fund primarily aims for current income and capital appreciation, investing at least 80% of assets in dividend-paying securities globally. It employs a managed distribution policy targeting an annual distribution rate of 7.0% based on the fund's average net asset value. However, there's no guarantee the fund will achieve its investment goals.
Special Opportunities Fund, Inc. (NYSE: SPE) announced a standstill agreement with Delaware Enhanced Global Dividend and Income Fund (NYSE: DEX) regarding DEX's proposed reorganization into abrdn Global Dynamic Dividend Fund (NYSE: AGD). The agreement includes a contingent tender offer for DEX to purchase up to 30% of its shares at 98% of the net asset value, pending shareholder approval. Chairman Phillip Goldstein believes this offer is beneficial for DEX shareholders and encourages their support for the reorganization.
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