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Us | NAV & Stock Price | Monthly Portfolio Summary Ellsworth Fund Ltd. Increases Quarterly Dividend Over Previous Quarter
and Announces Earnings and Financial Update
FOR IMMEDIATE RELEASE
Morristown, NJ
July 17, 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 nine months
ended June 30, 2007.
The Fund declared its eighty-fourth quarterly dividend
today. The ten cents ($0.10) per share dividend is payable from net investment
income, and represents an increase of 25%, or two cents ($0.02) per share, over the
previous dividend.
|
|
Payable date |
|
Record date |
$0.10 per share
from ordinary income |
 |
August 30, 2007 |
|
August 16, 2007 |
| |
Three Months Ended
June 30 |
Nine Months Ended
June 30 |
| Earnings Report |
2007 |
2006 |
2007 |
2006 |
| Net Income |
$1,118,000 |
$927,000 |
$3,347,000 |
$3,072,000 |
| Per Share |
$0.09 |
$0.07 |
$0.26 |
$0.25 |
| Shares Outstanding |
12,659,098 |
12,429,083 |
12,659,098 |
12,429,083 |
| Total Net Assets |
$129,587,000 |
$115,438,000 |
$129,587,000 |
$115,438,000 |
| Net Asset Value Per Share |
$10.24 |
$9.29 |
$10.24 |
$9.29 |
| Fund
Statistics as of June 30, 2007 |
|
Top Ten Holdings by underlying common stock as of June 30, 2007 |
|
|
|
|
|
|
|
% of |
| Market price |
|
|
$9.14 |
|
|
|
Net Assets |
| Net asset value (NAV) |
|
$10.24 |
|
LSB
Industries, Inc. |
3.2 |
| Premium/(Discount) |
|
(10.74)% |
|
Celanese Corp. |
|
3.1 |
| Total Net Assets |
|
$129,587,000 |
|
Prudential Financial, Inc. |
|
2.4 |
| 12-Month income distribution |
$0.36 |
|
LSI
Corp. |
2.3 |
| Yield on market price |
|
3.94% |
|
The Walt
Disney Company |
2.3 |
| Ratio of expenses |
|
1.09%* |
|
Bristow Group Inc. |
|
2.2 |
| Ratio of net income |
|
|
3.62%* |
|
Alleghany Corp. |
|
2.0 |
| Portfolio turnover |
|
59.71% |
|
Freeport-McMoRan
Copper & Gold Inc. |
2.0 |
| Shares outstanding |
|
|
12,659,098 |
|
MetLife,
Inc. |
2.0 |
| * Annualized |
|
|
|
New
York Community Bancorp, Inc. |
2.0 |
|
|
|
|
|
|
|
| Major
Industry Exposure |
|
|
% of |
|
Portfolio Ratings from Moody's |
|
|
| as of June
30, 2007 |
|
|
Net Assets |
|
as of June 30, 2007 |
|
|
| Insurance |
|
|
9.5 |
|
(From S&P when Moody's
is unavailable) |
|
% of
Portfolio |
| Energy |
|
9.3 |
|
Aa |
|
11 |
| Pharmaceuticals |
|
|
7.5 |
|
A |
|
16 |
| Semiconductors |
|
|
6.6 |
|
Baa |
|
17 |
| Banking/Savings and Loan |
|
6.5 |
|
Ba |
|
7 |
| Multi-Industry |
|
|
6.5 |
|
B |
|
19 |
| Computer
Hardware |
|
|
5.3 |
|
<B |
|
0 |
| Computer
Software |
|
|
4.9 |
|
NR |
|
28 |
| Chemicals |
|
|
4.6 |
|
Common Stocks |
|
2 |
| Health
Care |
|
|
4.2 |
|
|
|
|
|
|
|
|
|
|
|
|
| Asset
Allocation |
|
|
% of |
|
|
|
|
| as of June
30, 2007 |
|
|
Net Assets |
|
|
|
|
| Convertible
Bonds and Notes |
|
|
64.1 |
|
|
|
|
| Corporate
Bonds and Notes |
|
|
1.2 |
|
|
|
|
| Convertible
Preferred Stock |
|
|
11.3 |
|
|
|
|
| Mandatory
Conv. Securities |
|
|
18.9 |
|
|
|
|
| Common
Stock |
|
|
1.6 |
|
|
|
|
| Short-term
Securities |
|
|
4.4 |
|
|
|
|
| Other
Assets |
|
|
(1.5) |
|
|
|
|
Data is unaudited and as of June 30, 2007. This selected
information should be read in conjunction with the financial statements and notes included
in the Company's Semi-Annual Report to Shareholders for the six months ended March 31,
2007.
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. |