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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
January 12, 2007
Cusip 289074106 |
For Information:
Joshua P. Lake
(973) 631-1177 |
Ellsworth Fund Ltd. (AMEX - ECF)
today reported financial highlights and certain portfolio information for the three months
ended December 31, 2006.
The Fund declared its eighty-second quarterly dividend
today:
|
|
Payable date |
|
Record date |
$0.08 per share
from ordinary income |
 |
February 27, 2007 |
|
February 13, 2007 |
| |
Three Months Ended
December 31 |
| Earnings Report |
2006 |
2005 |
| Net Income |
$1,066,000 |
$942,000 |
| Per Share |
$0.08 |
$0.08 |
| Shares Outstanding |
12,659,098 |
12,429,083 |
| Total Net Assets |
$121,530,000 |
$113,113,000 |
| Net Asset Value Per Share |
$9.60 |
$9.10 |
Annual Shareholders Meeting
Results The following actions
were taken at the Annual Shareholders meeting on Friday January 12th: (1) three trustees
were elected and (2) the selection of Tait, Weller & Baker LLP as independent auditors
for the 2007 fiscal year was ratified.
| Fund
Statistics as of December 31, 2006 |
|
Top Ten Holdings by underlying common stock as of December 31, 2006 |
|
|
|
|
|
|
|
% of |
| Market price |
|
|
$8.45 |
|
|
|
Net Assets |
| Net asset value
(NAV) |
|
$9.60 |
|
The Walt Disney Company |
3.8 |
| Premium/(Discount) |
|
(11.98)% |
|
Nuveen Investments, Inc. |
|
2.8 |
| Total Net Assets |
|
$121,530,000 |
|
Celanese Corp. |
|
2.4 |
| 12-Month income distribution |
$0.3400 |
|
The St. Paul Travelers Companies, Inc. |
2.4 |
| Yield on market price |
|
4.02% |
|
Alleghany
Corp. |
2.0 |
| Ratio of expenses |
|
1.15%* |
|
Genworth Financial, Inc. |
|
2.0 |
| Ratio of
net income |
|
|
3.63%* |
|
LSB Industries, Inc. |
2.0 |
| Portfolio Turnover |
|
12.28% |
|
MetLife, Inc. |
2.0 |
| Shares
outstanding |
|
|
12,659,098 |
|
Intel Corp. |
1.8 |
| * Annualized |
|
|
|
Texas Industries, Inc. |
1.8 |
|
|
|
|
|
|
|
| Major Industry Exposure |
|
|
% of |
|
Portfolio Ratings from Moody's |
|
|
| as of December 31, 2006 |
|
|
Net Assets |
|
as of December 31, 2006 |
|
|
| Insurance |
|
|
12.7 |
|
(From S&P when Moody's
is unavailable) |
|
% of
Portfolio |
| Semiconductors |
|
9.5 |
|
Aa |
|
11 |
| Pharmaceuticals |
|
|
9.1 |
|
A |
|
15 |
| Energy |
|
|
7.3 |
|
Baa |
|
19 |
| Multi-Industry |
|
6.7 |
|
Ba |
|
9 |
| Entertainment |
|
|
6.3 |
|
B |
|
16 |
| Banking/Savings and Loan |
|
|
5.9 |
|
C |
|
1 |
| Aerospace and Defense |
|
|
5.6 |
|
NR |
|
29 |
| Telecommunications |
|
|
4.6 |
|
|
|
|
| Computer Hardware |
|
|
3.8 |
|
|
|
|
|
|
|
|
|
|
|
|
| Asset Allocation |
|
|
% of |
|
|
|
|
| as of December 31, 2006 |
|
|
Net
Assets |
|
|
|
|
| Convertible Bonds & Notes |
|
|
59.4 |
|
|
|
|
| Mandatory Conv. Securities |
|
|
17.4 |
|
|
|
|
| Convertible Preferred Stock |
|
|
17.1 |
|
|
|
|
| Common Stock |
|
|
3.0 |
|
|
|
|
| Short-term Securities |
|
|
2.1 |
|
|
|
|
| Other Assets |
|
|
1.0 |
|
|
|
|
Data is unaudited and as of December 31, 2006. This
selected information should be read in conjunction with the financial statements and notes
included in the Fund's Annual Report to Stockholders for the twelve months ended September
30, 2006.
Detailed portfolio information is available on our website (http://www.ellsworthfund.com). 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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