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| Contact Us | NAV & Stock Price | Monthly Portfolio Summary Ellsworth Fund Ltd. Announces Dividend, Earnings and Financial Update
FOR IMMEDIATE RELEASE
Morristown, NJ
April 10, 2006
Cusip 289074106 |
For Information:
Joshua P. Lake
(973) 631-1177 |
Ellsworth Fund Ltd. (AMEX - ECF)
(successor to Ellsworth Convertible Growth and Income Fund, Inc.) today reported financial
highlights and certain portfolio information for the six months ended March 31, 2006.
The Fund declared its seventy-ninth quarterly dividend
today:
|
|
Payable date |
|
Record date |
$0.07 per share
from ordinary income |
 |
May 30, 2006 |
|
May 16, 2006 |
| |
Three Months Ended
March 31 |
Six Months Ended
March 31 |
| Earnings Report |
2006 |
2005 |
2006 |
2005 |
| Net Income |
$1,203,000 |
$700,000 |
$2,145,000 |
$1,597,000 |
| Per Share |
$0.10 |
$0.06 |
$0.17 |
$0.13 |
| Shares Outstanding |
12,429,083 |
12,362,269 |
12,429,083 |
12,362,269 |
| Total Net Assets |
$118,207,000 |
$108,478,000 |
$118,207,000 |
$108,478,000 |
| Net Asset Value Per Share |
$9.51 |
$8.77 |
$9.51 |
$8.77 |
| Fund
Statistics as of March 31, 2006 |
|
Top Ten Holdings by underlying common stock as of March 31, 2006 |
|
|
|
|
|
|
|
% of |
| Market price |
|
|
$8.14 |
|
|
|
Net Assets |
| Net asset value
(NAV) |
|
$9.51 |
|
The Walt Disney Company |
3.4 |
| Premium/(Discount) |
|
(14.41)% |
|
Teva Pharmaceutical Industries
Ltd. |
|
2.8 |
| Total Net Assets |
|
$118,207,000 |
|
Nuveen Investments, Inc. |
|
2.7 |
| 12-Month income distribution |
$0.3075 |
|
Freeport-McMoRan Copper and Gold, Inc. |
2.2 |
| Yield on market price |
|
3.78% |
|
Celanese
Corp. |
2.1 |
| Ratio of expenses |
|
1.29%* |
|
Genworth Financial, Inc. |
|
2.1 |
| Ratio of
net income |
|
|
3.74%* |
|
The St. Paul Travelers
Companies, Inc. |
2.1 |
| Portfolio Turnover |
|
36.55% |
|
The TJX Companies, Inc. |
2.1 |
| Shares
outstanding |
|
|
12,429,083 |
|
Euronet Worldwide, Inc. |
2.0 |
| * Annualized |
|
|
|
Manor Care, Inc. |
1.8 |
|
|
|
|
|
|
|
| Major Industry Exposure |
|
|
% of |
|
Portfolio Ratings from Moody's |
|
|
| as of March 31, 2006 |
|
|
Net Assets |
|
as of March 31, 2006 |
|
|
| Financial and Insurance |
|
|
15.1 |
|
(From S&P when Moody's
is unavailable) |
|
% of
Portfolio |
| Technology |
|
14.3 |
|
Aa |
|
10 |
| Pharmaceuticals |
|
|
10.9 |
|
A |
|
13 |
| Energy |
|
|
7.6 |
|
Baa |
|
18 |
| Banking/Savings and Loan |
|
6.5 |
|
Ba |
|
7 |
| Entertainment |
|
|
5.1 |
|
B |
|
23 |
| Telecommunications |
|
|
5.0 |
|
<B |
|
1 |
| Aerospace and Defense |
|
|
4.7 |
|
NR |
|
28 |
| Health Care |
|
|
4.5 |
|
|
|
|
| Retail |
|
|
4.1 |
|
|
|
|
|
|
|
|
|
|
|
|
| Asset Allocation |
|
|
% of |
|
|
|
|
| as of March 31, 2006 |
|
|
Net
Assets |
|
|
|
|
| Convertible Bonds & Notes |
|
|
55.4 |
|
|
|
|
| Convertible Preferred Stock |
|
|
21.1 |
|
|
|
|
| Mandatory Convertibles |
|
|
15.3 |
|
|
|
|
| Common Stock |
|
|
3.4 |
|
|
|
|
| Short-term Securities |
|
|
1.2 |
|
|
|
|
| Other Assets |
|
|
3.6 |
|
|
|
|
Data is unaudited and as of March 31, 2006. This selected
information should be read in conjunction with the financial statements and notes included
in the Company's Annual Report to Stockholders for the twelve months ended September 30,
2005.
Detailed portfolio information is available on our website (http://www.ellsworthfund.com). Visit us there or
contact us by e-mail at info@ellsworthfund.com
or call us at (973) 631-1177.
Ellsworth is a diversified closed-end management investment company. Ellsworth's
investment objective is to seek a high level of total return on its assets through a
combination of current income and capital appreciation. It seeks to achieve this objective
by investing primarily in convertible securities.
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