| Home
| Contact Us | NAV & Stock Price | Monthly Portfolio Summary Ellsworth Fund Ltd. Announces Dividend, Earnings and Financial Update
FOR IMMEDIATE RELEASE
Morristown, NJ
October 16, 2006
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 twelve
months ended September 30, 2006.
The Fund declared its eighty-first quarterly distribution
today:
|
|
Payable date |
|
Record date |
$0.395 per share |
|
November 22, 2006 |
|
October 27, 2006 |
The distribution consists of: $0.130
from ordinary income
$0.265 from long-term capital
gains
Shareholders who are not members of the Fund's Automatic
Dividend Investment Plan will be given the option to receive the dividend either in cash
or in shares of beneficial interest of the Fund. Because of this option, the
dividend is taxable to all shareholders whether or not they choose to receive cash.
Shareholders Meeting Date: The trustees
also set January 12, 2007 as the date of the annual shareholders meeting with a record
date of November 15, 2006.
| |
Three Months Ended
September 30 |
Twelve Months Ended
September 30 |
| Earnings Report |
2006 |
2005 |
2006 |
2005 |
| Net Income |
$1,057,000 |
$935,000 |
$4,129,000 |
$3,710,000 |
| Per Share |
$0.09 |
$0.08 |
$0.33 |
$0.30 |
| Shares Outstanding |
12,429,083 |
12,362,269 |
12,429,083 |
12,362,269 |
| Total Net Assets |
$119,264,000 |
$114,824,000 |
$119,264,000 |
$114,824,000 |
| Net Asset Value Per Share |
$9.60 |
$9.29 |
$9.60 |
$9.29 |
| Fund
Statistics as of September 30, 2006 |
|
Top Ten Holdings by underlying common stock as of September 30, 2006 |
|
|
|
|
|
|
|
% of |
| Market price |
|
|
$8.20 |
|
|
|
Net Assets |
| Net asset value
(NAV) |
|
$9.60 |
|
The Walt Disney Company |
3.6 |
| Premium/(Discount) |
|
(14.58)% |
|
Nuveen Investments, Inc. |
|
2.9 |
| Total Net Assets |
|
$119,264,000 |
|
Chesapeake Energy Corp. |
|
2.2 |
| 12-Month income distribution |
$0.3075 |
|
Advanced Micro Devices, Inc. |
2.1 |
| Yield on market price |
|
3.75% |
|
Genworth
Financial, Inc. |
2.1 |
| Ratio of expenses |
|
1.20% |
|
The St. Paul Travelers
Companies, Inc. |
2.1 |
| Ratio of
net income |
|
|
3.56% |
|
MetLife, Inc. |
|
2.0 |
| Portfolio Turnover |
|
60.16% |
|
Celanese Corp. |
1.9 |
| Shares
outstanding |
|
|
12,429,083 |
|
Schering-Plough Corp. |
1.9 |
|
|
|
|
Intel Corp. |
1.8 |
| Major Industry Exposure |
|
% of |
|
|
|
|
| as of September 30, 2006 |
|
|
Net Assets |
|
Portfolio Ratings from Moody's |
|
|
| Technology |
|
|
18.6 |
|
as of September 30, 2006 |
|
|
| Financial and Insurance |
|
|
16.2 |
|
(From S&P when Moody's
is unavailable) |
|
% of
Portfolio |
| Pharmaceuticals |
|
10.5 |
|
Aa |
|
13 |
| Energy |
|
|
9.3 |
|
A |
|
14 |
| Banking/Savings and Loan |
|
|
5.6 |
|
Baa |
|
18 |
| Aerospace and Defense |
|
5.5 |
|
Ba |
|
8 |
| Entertainment |
|
|
5.2 |
|
B |
|
19 |
| Health Care |
|
|
3.9 |
|
Caa |
|
1 |
| Telecommunications |
|
|
3.4 |
|
NR |
|
27 |
| Chemicals |
|
|
3.2 |
|
|
|
|
|
|
|
|
|
|
|
|
| Asset Allocation |
|
|
% of |
|
|
|
|
| as of September 30, 2006 |
|
|
Net
Assets |
|
|
|
|
| Convertible Bonds and Notes |
|
|
55.1 |
|
|
|
|
| Convertible Preferred Stock |
|
|
17.8 |
|
|
|
|
| Mandatory Convertible Securities |
|
|
17.8 |
|
|
|
|
| Common Stock |
|
|
3.6 |
|
|
|
|
| Short-term Securities |
|
|
3.6 |
|
|
|
|
| Other Assets |
|
|
2.1 |
|
|
|
|
Data is unaudited and as of September 30, 2006. This
selected information should be read in conjunction with the financial statements and notes
included in the Company's Semi-Annual Report to Stockholders for the six months ended
March 31, 2005.
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.
Financial
Update (PDF 32Kb) | Press Releases | Dividend History | Home |